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FAQs |
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If you have any queries that are not answered here, please call us or
write to us.
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Is the Super Saver Account actually a normal Savings Account?
The Super Saver Account is a premium Savings Account, i.e. combining features
of a Fixed Deposit and a Savings Account. It gives you the yield of a Fixed
Deposit and liquidity of a Savings
Account. The other features of a Super Saver Account are:
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How does it operate?
Like the liquidity of a Savings Account, the Super Saver Account allows you to withdraw up to 75% of your deposit. There is no need to break your Fixed Deposit for short term needs. You need withdraw money only for the specific period of need. You can withdraw cash through an ATM or by cheque or teller transactions.
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Can a Trust open a Super Saver Account?
No, only Resident Individuals and Hindu Undivided Families are eligible to open a Super Saver Account.
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Can a minor open a Super Saver Account?
No.
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For a joint Super Saver Account, can both the account holders get an ATM card / Debit?
Yes, in a joint Super Saver Account, with either or survivor mandate, both account holders can get an ATM / Debit card.
(A maximum of 2 cards are given against the Super Saver Account)
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Can I add on a Fixed Deposit to the Super Saver Account?
Yes, you can add on a Fixed Deposit to the Super Saver Account, but it has to be in multiples of Rs.5,000/-. In such a case, the overdraft rate is recalculated and you are informed of the change. Separate add-on forms exist for adding the Fixed Deposit to the Super Saver Account.
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Will T.D.S. (Tax Deducted at Source) be charged on the gross interest earned or the net interest earned (i.e. after deducting Overdraft charges)?
T.D.S. is charged if the gross interest earned on your fixed deposits held
with the bank exceeds Rs.10,000/- in a financial year.
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Can I have both a Super Saver facility and a Sweep-In facility on the same Fixed Deposit?
No, you can only have one of the two facilities on a single Fixed Deposit.
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Can a customer have both a Super Saver facility and a Sweep-In facility on the same Savings Account?
Yes, you can have both these facilities on the same Savings Account. If you choose to do so, you will need to maintain the minimum average quarterly balance of Rs. 5000/- in your Savings Account. Also, when there are insufficient funds in your Savings Account, your overdraft limit will be exhausted before units of the Sweep-In Fixed Deposits are encashed prematurely.
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Can the account be opened in a joint account with a non-senior citizen?
Yes, provided the first account holder is a senior citizen.
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What documentation is required to open a senior citizen FD?
A senior citizen needs to provide proof of age, which can be achieved by submitting either of the following documents:
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Secondary School Leaving Certificate (10th Class) |
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LIC Policy |
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Voters Identity Card |
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Pension Payment Order |
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Birth Certificate issued by the competent authority |
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Passport |
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Defence ID Card / Govt ID Card (Provided they have the cardholder"s photo, signature and date of birth) |
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PSU Issued ID Cards |
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Senior Citizen Cards issued by Indian Airlines / Indian Railways |
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PAN Card |
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I am an existing customer, do I need to apply for a separate Customer ID to avail this facility?
There is no need for a separate Customer ID. For new Fixed Deposit
being booked, you only have to provide proof of age .In case proof of age is not submitted, the interest earned will be the same as for regular Fixed Deposit.
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Will I have to provide proof of age for all the subsequent Fixed Deposits?
All subsequent Fixed Deposits applications need to be accompanied by proof of age. The only exception to this rule is where a customer already has a live Senior Citizen Fixed Deposit existing at the time of placing the next Fixed Deposits. The Fixed Deposits number needs to be mentioned on the Form. In such cases, it will be assumed that proof of age already exists with the Bank.
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Just fill the Online Application Form and our representative will get in touch with you shortly.
Other Ways to apply :
*Conditions Apply
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