IOB EIGHTY PLUS - Term Deposit The product is designed for the Super Senior Citizens ie Senior Citizens with age 80 years and above. Name of the Product IOB Eighty Plus - TD Nature of the Product Term Deposits Eligible Customers All Super Senior Citizens with age 80 years and above as on date of opening of account. Any valid KYC documents containing age/DOB as per existing KYC policy of RBI can be accepted as proof of age. Birth Certificate or any other valid proof containing age/ date of birth can also be accepted as proof of age. Rate of Interest Additional interest of 0.25% p.a over and above the applicable interest rate for Senior Citizens. Total 0.75% more. Deposit amount Minimum - As per the respective schemes (RDP/SFD-(M/Q)/RD) Maximum - Below Rs. 1 Crore. Period of Deposit 6 Months to 120 Months. Mode of Operation Self / E or S with spouse only / F or S with spouse only (Super senior citizen as primary account holder). Nomination Permitted as per rules. Loan Facility Up to 90% for Self or jointly with spouse only. Applicable interest will be 1% over and above the deposit rate for demand loans and 1.50% for Cash Credit accounts. No Third party loans permitted.
IOB EIGHTY PLUS - Term Deposit
The product is designed for the Super Senior Citizens ie Senior Citizens with age 80 years and above.
Nature of the Product
Term Deposits
Eligible Customers
All Super Senior Citizens with age 80 years and above as on date of opening of account. Any valid KYC documents containing age/DOB as per existing KYC policy of RBI can be accepted as proof of age. Birth Certificate or any other valid proof containing age/ date of birth can also be accepted as proof of age.
Rate of Interest
Additional interest of 0.25% p.a over and above the applicable interest rate for Senior Citizens. Total 0.75% more.
Deposit amount
Minimum - As per the respective schemes (RDP/SFD-(M/Q)/RD)
Maximum - Below Rs. 1 Crore.
Period of Deposit
6 Months to 120 Months.
Mode of Operation
Self / E or S with spouse only / F or S with spouse only (Super senior citizen as primary account holder).
Nomination
Permitted as per rules.
Loan Facility
Up to 90% for Self or jointly with spouse only.
Applicable interest will be 1% over and above the deposit rate for demand loans and 1.50% for Cash Credit accounts. No Third party loans permitted.