BOP Senior Citizen Accounts
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This is a saving bank product available for all senior citizens i.e. persons of 55 years and above who are eligible to open a saving account as per Bank’s criteria. The account can be opened singly or jointly (husband & wife) provided either of them is of 55 years or above.
The Main Features are:
A customer can open only one BOP Senior Citizens Saving Account singly or jointly regardless of the branch. In case it is found out that more than one account exists under this category, the Bank reserves the right to recover and forfeit the profits paid or not to give any profit.
The profit slab is as follows:
Rs. 0 upto 200,000/-
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5 % p.a.
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Rs.200,001 upto 400,000/-
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7 % p.a.
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Above Rs.400,001
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8 % p.a.
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- * This product is governed under PLS rule i.e. the rates mentioned are expected and the Bank reserves the right to revise the rates and terms & conditions of profit and the scheme under Profit & Loss sharing system.
- The profit will be calculated on monthly basis based on the minimum monthly balance maintained by the customer during that particular month.
- The profit will be credited on monthly basis in the respective account.
- Profit once disbursed will not be recovered in case of decrease in rate at the time of announcement of Half Yearly profit rates. However in case of rise in profit rate the difference amount will be paid.
- Unlimited transactions (debit/credit) allowed
Value added incntives/features ?
- Free complimentary issuance of ATM Card
- Free complimentary issuance of first Cheque Book of 25 leaves
- 25 % reduction in rental charges of small or medium locker subject to availability
- Priority banking especially in utility bills payment, counter service etc.