It is often a task for senior citizens to fulfil their banking requirements. While there are certain schemes designed to aid them, more financial plans must be facilitated for people over the age of 70.
The Indus Senior Savings Account by IndusInd Bank is an attempt to provide some peace of mind and ease to the elderly population in the country. The special deposit account has been crafted keeping the needs and welfare of senior citizens in mind.
Read on to know more about savings accounts and their eligibility criteria.
What is a savings account?
A savings account is an interest-bearing bank account where you can deposit your money at a modest interest rate. This type of an account is generally a safe option when you need to save money for a short-term goal like paying off your credit bill or for utilities such as electricity.
Furthermore, savings accounts are a liquid investment and unlike a fixed deposit, you can easily withdraw funds from them anytime. You can easily open a savings account online and operate it through the digital banking facilities provided by most leading banks.
Features of the Indus Senior Savings Account
Here are some of the special features offered by the Indus Senior savings account by IndusInd Bank:
Hassle-free banking: One major benefit offered by the Indus Senior account is doorstep facility for more convenience. Now, you don’t have to go to the bank for jobs like picking up and dropping a cheque or even cash.
High rates on fixed deposit: Another benefit of having an Indus Senior account is the high rates offered on your next fixed deposit.
Cheaper locker facility: Senior citizens can also get 20 per cent off on lockers for the duration of one year under the senior citizen savings account.
Free family accounts: An individual with the Indus Senior account can extend free privileges to two other family member’s accounts.
Some more savings accounts offered by IndusInd bank
IndusInd Bank has come up with several different plans and types of savings accounts keeping diverse individuals and their varying needs in mind. These are some of the plans that can be availed by senior citizens:
Indus Select
A savings plan that includes a variety of different features and privileges. The benefits of this account include:
– Savings worth Rs 34,200
– 50 per cent off on lockers
– Free offers such as movie tickets
– Family accounts for free
Indus Maxima
A savings account that caters to your needs and offers customised solutions. The benefits of this account include:
– Savings worth Rs 18,100
– Attractive debit card offers
– 35 per cent off on lockers
– Family accounts for free
Indus Classic
A savings account that offers the best flexibility and access to your funds. The benefits of this account include:
– Attractive offers
– Minimum balance requirement starting at Rs 1,500 per month
– Earn cashback on shopping with Debit card
Indus Exclusive
A premier savings account that offers special privileges and offers. The benefits of this account include:
– Savings worth Rs 41,200
– Priority banking
– Free Locker and Demat
– Access to airport Lounge and other privileges
Indus Privilege
An account that gives you the power to save more. The benefits of this account include:
– Savings worth Rs 15,600
– Low average balance needed
– Attractive debit card offers
Pioneer
The savings account that offers top privileges and benefits along with smooth service. The benefits of this account include:
– Savings worth Rs 87,195
– Priority Banking
– Free Locker and Demat
– Extra privileges like curated events, Lounge access and concierge
Therefore, if you are above the age of 70 and are thinking about opening a savings account, you must consider IndusInd Bank’s Senior Saving account plan.
The various benefits and features make the savings account a safe way to deposit money for the elderly. Also, one can open a savings account online by visiting the official website of IndusInd Bank.