Senior Citizens Fixed Deposit Interest Rates in North East Small Finance Bank

North East Small Finance Bank has been a trusted financial partner for many over the years. The bank recognizes the importance of the financial stability of senior citizens and, as a result, has curated FD schemes specifically tailored for them. These FD schemes offer higher interest rates to senior citizens compared to the regular public. Dive in to see how the bank ensures better financial returns for senior citizens.

• 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 North East 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 a senior citizen FD with North East Small Finance Bank.
• The "Senior Care FD" offers an additional 0.75% interest rate.
• The "Senior Care FD" scheme is valid for a specified duration, which may be subject to changes.

Identity Proof

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

Address Proof

• Bank Statement
• Cancelled Cheque
• Utility Bills