Financial Daily
from THE HINDU group of publications
Monday, May 21, 2001
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Financial Daily from THE HINDU group of publications Monday, May 21, 2001 |
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SBT scheme for senior citizens
Our Bureau
THIRUVANANTHAPURAM, May 20
STATE Bank of Travancore (SBT) will offer higher rate of interest to senior citizens with effect from May 21.
The rate will be 0.5 per cent higher than the normal rate on domestic term deposits of Rs 5,000 and above for maturity periods of one year and above, according to a release from SBT.
Individuals aged 60 years and above can avail themselves of this benefit by producing SSLC book /LIC policy/ voter ID card/ pension payment order/ passport or birth certificate as proof of age.
The higher interest rate will be applicable to deposits held jointly with others with the senior citizen as the first depositor. The other facilities include provision for automatic transfer of deposit to nominees in the event of death, according to the
release.
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