All persons of 60 years and above are eligible for the following special treatment at PSB. (For proof of age - School leaving certificate, LIC policy, Voter identity card, Passport or Birth Certificate issued by a competent authority be given/submitted.)
Separate line / queue for Senior Citizens in front of every counter, is provided by branches with counter clerk attending to the customers alternatively from both the lines similar to arrangements in vogue at Railway Booking Centers.
Seating arrangements are provided to all the customers including Senior Citizens / Pensioners and Physically Challenged Persons at all the Branches / Offices of the Bank. The senior citizen can open Fixed Deposit Account jointly with other person below the age of 60 years but the first name should be of senior citizen. The scheme is applicable for fresh deposit or renewal of deposit.
Rate of Interest
- It has also been decided to give additional benefit to Senior Citizens over and above card rates only on term deposits of any amount as under:-
"The Senior Citizen shall be given as additional rate of 0.50% on any amount over and above the mentioned rates for deposits with maturity period 180 days and above for fresh and renewed deposits."
- Ex -staff Members are eligible for 1% extra rate of interest, however, please note that if the Ex-Staff Member is also a Senior Citizen, he will also be eligible for additional interest applicable to Senior Citizen shown as above.
Atleast one Senior Citizen is included as member of the Customer Service
Committee at Branch Level.
The above said addtional benefit given to Senior Citizens has been changed from time to time by HO risk Management Department.
Other Special Facilities
In addition to above, the following additional facilities is also given to Senior citizen:
- No Service Charges are levied for not maintaining minimum balance in the Savings Bank Accounts.
- 3 Demand Draft upto Rs. 5000/- each are issued at par per calendar month.
- 3 instruments upto Rs.3000/- each are collected at par per calendar month. Only out of Pocket expenses are recovered for offering this facility.
