Senior Citizens Account FAQ's

Sweep in facility

Will there be an option to transfer excess funds available in Senior Citizens Account to Fixed Deposit and earn higher rate of interest?

  • Sweep Out facility

Yes, once the balance in your Senior Citizen's Account exceeds Rs. 75,000, the amount in excess of Rs. 50,000 can automatically be transferred to a Fixed Deposit for tenure of 1 year 1 day ( 366 days). The funds are still available to automatically sweep in if needed.

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