No premature withdrawal penalty on FD, health benefits, cyber insurance to prevent frauds: Know the special products offered by this bank Senior citizens also receive Cyber Insurance coverage and complimentary health benefits
IDFC FIRST Bank has launched special products for senior citizens. These are - Senior Citizen Savings Account and Senior Citizen Fixed Deposits along with a host of other benefits. IDFC FIRST Bank has also introduced a dedicated section called 'Senior Citizen Specials' in its mobile banking app.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} Delhi Elections Live
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IDFC FIRST Bank revises interest rate, terms and features on its credit cards from this date: Check details
Senior Citizen Specials is specifically designed for senior customers, offering them;
Customised investment solutions as applicable to senior citizens' needs based on their age.Additional 0.5% interest rate on fixed depositNo penalty on pre-mature closure of the FD investmentsCyber Insurance Coverage of Rs 2 lakhs to protect our senior citizens from rising cyber threats as per the bank's website,Complimentary one-year MediBuddy health membership with unlimited complimentary doctor video consultations for up to 4 family members as stated on the IDFC First Bank's websiteUp to 15% discount in the network pharmacies, a full body health checkup covering 50+ parameters, and a Rs 500 wallet balance with MediBuddy. The mobile banking app also provides access to a simplified mutual fund investment experience, backed by innovation and research. The mutual fund scheme offered are conservative, and can be modified by the senior citizen based on their own risk-reward appetite.Benefits of senior citizen savings account
IDFC FIRST Bank's Senior Citizen Savings Account eliminates over 30 standard banking charges such as IMPS charges, ATM transaction charges, SMS alert charges, Debit Card Issuance changes. This makes day-to-day banking transactions more cost-effective. Along with this, the bank has waived off penalties on premature FD withdrawals, ensuring liquidity is available to senior citizens when needed.
Cyber insurance
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IDFC FIRST Bank is offering Cyber Insurance coverage exclusively for senior citizens. This insurance safeguards account holders from financial losses due to unauthorized digital transactions, including frauds such as phishing, spoofing, vishing, and other cyber threats.
Senior citizen FD interest rate
IDFC FIRST fixed deposit interest rate for senior citizens
TenureFD rates for Senior Citizens w.e.f November 26, 2024 - Less than INR 3 Crores7 – 14 days3.50%15 – 29 days3.50%30 – 45 days3.50%46 – 90 days5.00%91 – 180 days5.00%181 days – & less than 1 year6.25%1 year7.00%1 year 1 day – 370 days7.75%371 days – 399 days8.00%400 days – 500 days8.40%501 days – 2 years7.75%2 years 1 day – 3 years7.30%3 years 1 day – 5 years7.25%5 years- 1 day – 10 years7.00% #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
This story originally appeared on: India Times - Author:Faqs of Insurances
