New Delhi: After retirement, most people want to invest in the right place to save their entire life savings. Different banks offer special senior citizen bank accounts for such senior people with special facilities. Senior citizen bank account offers higher interest rate than normal savings accounts with convenient personal services for senior citizens. From ICICI Bank to HFDC, Axis Bank, all offer such savings accounts for their senior citizen customers that have more benefits.
Some savings accounts given by top banks for senior citizens
ICICI Bank Seniors Club Savings Account : This ICICI Bank account is for customers above 60 years of age. It comes with a facility in which customers can wait for all their banking transactions without standing in line. Apart from this, senior citizens with this account get up to Rs 30,000 hospitalization allowance. The ICICI Seniors Club Savings Account also offers a higher interest rate than an ordinary savings account on account balances of more than Rs 75,000.
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HDFC Bank Senior Citizens Account: This bank account comes with benefits like free insurance, lifetime free debit card, emergency hospitalization benefits of Rs 50,000 per year and free international debit card. The card also has a cash withdrawal limit of Rs 50,000 per day and a purchase limit of Rs 2.75 lakh per day, as well as reward point programs.
Kotak Mahindra Bank Grand Savings Account : With this account customers can earn up to 4 percent interest rate per year on their savings. Additionally, this account can also be opened at the age of 55. Account holders also get a platinum debit card with this account, which provides security purchases up to Rs 1 lakh on durable goods. With this savings account, customers get a travel card with a 25 percent discount on the fees issued.
Axis Bank Senior Privilege Savings Account: Axis Bank account can be opened not only after the age of 60 years, but also at the age of 57, there is an option to open this account. This account gives its customers a debit card for a nominal fee. Under this account, Axis Bank pays interest of 3-4% per annum. Customers can also earn 0.5% preferential rate on FD and RD.
