Senior Citizens Fixed Deposit Interest Rates in Capital Small Finance Bank

Capital Small Finance Bank, like HDFC which has operated since 1994, recognizes the importance of ensuring the financial stability of senior citizens. The Fixed Deposit (FD) scheme for senior citizens at Capital Small Finance Bank is designed to favor them with higher interest rates than what is offered to the general public. Let’s dive into the unique features and benefits that senior citizens can avail from this scheme.

• Enhanced Interest Rates: Senior citizens typically receive a bonus interest rate on top of the regular FD rates. The specific rate is determined by the bank's current offerings.
• Qualification: Only individuals who are 60 or older are eligible to open a senior citizen FD account.
• Duration: Depositors have the flexibility to choose from a wide range of FD tenures, spanning from as short as 7 days to as long as 10 years.
• Early Withdrawal: While penalties might be levied for early withdrawals, senior citizens often get relatively lenient terms when they opt for premature FD closures.
• Borrowing Options: Similar to other depositors, senior citizens too can avail loans against their FDs.
• Beneficiary Assignment: In the unfortunate event of the account holder's demise, the bank permits a beneficiary to inherit the funds stored in the FD.
• Tax Deduction at Source (TDS) Implications: Interest earnings from FDs are subject to taxation as per Indian regulations. However, eligible senior citizens can bypass TDS deductions by duly submitting Form 15H.
• Automatic Renewal: Several banks, possibly including Capital Small Finance Bank, might offer an auto-renewal feature, ensuring the FD continues beyond its maturity unless otherwise specified by the depositor.
• Deposit Limits: The amount that can be deposited in a senior citizen FD may vary. Generally, there's a minimum deposit requirement, while the maximum limit might be open-ended.
• Unique Offerings: From time to time, the bank may introduce exclusive offers or features specifically curated for its senior citizen clientele.

Note: All interest rates shown above are as on 4th Aug 2023

• Only individuals aged 60 or above are eligible to open the Senior Citizen FD with Capital Small Finance Bank.
• The special 'Senior Care FD' offers a higher interest rate of 0.75% more than the regular FDs.
• The 'Senior Care FD' scheme is specifically designed for residents of India and is not available for NRIs.

Identity Proof

• Aadhaar card
• Voter ID
• Ration card
• Passport
• PAN card
• Driving Licence

Address Proof

• Bank Statement
• Cancelled Cheque
• Utility Bills