Grand - Savings Account
for Senior Citizens

• Above 1 Lakh and up to 1 Crores the interest rate applicable is 6%* p.a
• Up to 1 Lakh, the interest rate applicable is 4% p.a
• Above 1 Crores, the interest rate applicable is 5.5% p.a

 Applicable for Resident Accounts only.

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Average Monthly Balance is calculated by dividing the sume of all ‘End of Day’ balances in a month by the number of days in that month.

Please refer the following illustration for the calculation of AMB.

Sample Bank Statement:

AMB Calculation:

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The idle funds from your savings account (at a pre-specified threshold limit) are transferred automatically to a term Deposit. The funds move back in to the savings account in case of funds requirements.

The advantages of this facility are:

•         Higher rate of interest earned.
•         You need NOT track idle funds regularly & give instructions to the bank to create Term Deposits out of Savings Account balances.
•         Greater Flexibility & Liquidity as the funds flow back into the Savings Account if the balance in the Savings Account falls below a particular level.

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• Resident Indian (Sole or Joint Savings Account)
• Hindu Undivided Families
• Foreign Nationals Residing in India1

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