Senior Citizen Deposits

KVB's offers term deposits with both cumulative and non-cumulative options for the senior citizens. Moreover, senior citizens are eligible for preferential rate of interest.

• Resident Indians who have completed 60 years of age are eligible to deposit
• Both cumulative and non-cumulative options are available.
• Deposits are eligible for preferential interest rates for maturity period of one year and above and upto and inclusive of five years.
• Loan available on deposit
• Premature closure is allowed, subject to the applicable norms

• Proof of age has to be produced
• Preferential rate of interest is applicable only for maturity period of one year and above and upto and inclusive of five years.
• The maximum ceiling limit for extending preferential rate of interest is Rs. 5.00 cr. in aggregate per depositor.
• Interest is subject to TDS.
• Nomination is compulsory