Other matters as mentioned below are unchanged for Deposits:
Senior Citizen (i.e. having age of 60 years or more) will benefit of 0.50% higher interest rate on Deposits. However Deposits placed by Senior Citizen under section 80 C of Income Tax Act, NRE-NRO, Kal Flexi, Diamond Kal Flexi, Non-callable Deposits, Kal Double Deposit , Kal Short Term Deposit will not be eligible for such additional interest rate benefit.
Super Senior Citizens (who have completed 75 years) will get additional benefit of 0.25% i.e. total benefit of 0.75% higher interest rate on Deposits. However Deposits placed by Super Senior citizen under section 80 C of Income Tax Act, NRE-NRO, Kal Flexi, Diamond Kal Flexi, Non-callable Deposits, Kal Double Deposit , Kal Short Term Deposit will not be eligible for such additional interest rate benefit.
Senior Citizens and Super Senior Citizens will not get benefit of additional interest rate on Deposits having maturity of less than 1 year. This means that if Senior Citizen/ Super Senior Citizen want to avail benefit of additional interest rate on Deposits then they have to place deposit for 1 year & above.
Staff members will continue to get 1% additional interest on Term Deposits. If staff is Senior Citizen, he/she will continue to get additional interest benefit of 0.50% and super senior citizen will continue to get further interest benefit of 0.25%, subject to concerned staff having submitted declaration that money deposited belongs him / her only
