What factors should one keep in mind while choosing a bank for senior citizens?
Sonia Paul, Gurgaon
Selecting a bank for senior citizens is different from someone starting out their careers. There are certain facilities that banks offer to senior citizens. Interest rates offered on fixed deposits to senior citizens are higher. Also, some banks have a special desk to assist senior citizens. Proximity of the bank branch/ATM to your house is one of the major factors that you should consider. Extended banking hours is another consideration that you should take note of. While there are hardly any banks that offer 24 hour banking operations, look for a bank that has longer working hours, which has an approach which is convenient for senior citizens to pass through. Also, look for core banking facility in the bank as it will help you deposit/ withdraw money from any place.
