DBS Bank India has launched “DBS Golden Circle,” a priority banking program for senior citizens.
The program, designed for resident Indian citizens aged 60 and above, offers exclusive benefits and services, including attractive interest rates on savings accounts and fixed deposits, enhanced security features, and personalised financial services to address income insecurity, which is a significant concern for the elderly, as highlighted in the India Ageing Report 2023 by the United Nations Population Fund.
Senior citizens enrolled in the DBS Golden Circle can earn up to 7% interest per annum on savings account balances above Rs 4 Lakhs and up to Rs 5 Lakhs. Moreover, they can benefit from an enhanced interest rate of 0.50% per annum on fixed deposits with tenures ranging from 376 days to 540 days.
“DBS Golden Circle is designed to make banking easier and more convenient for senior citizens, with a strong focus on trust, safety, and convenience.,” said Prashant Joshi, Managing Director and Head of Consumer Banking Group, DBS Bank India.
To enhance security, the DBS Golden Circle program offers cyber insurance coverage up to Rs 1,00,000.
Additionally, fixed deposits with a tenure of over one year do not incur penalties for premature withdrawals. Flexible interest payout options for fixed deposits are also available, including monthly, quarterly, or cumulative payouts.Other benefits include special overdraft rates against fixed deposits and loans on deposits, zero transaction fees for NEFT, RTGS, duplicate statements, and unlimited free domestic ATM transactions, lifetime free debit cards, and discounts on locker rentals.
These features provide a cost-effective and secure option for storing valuable items.Moreover, the program offers a selection of products from leading life insurance companies and ecosystem partners. These include curated health and wellness benefits, discounts on healthcare services, pharmacy discounts, hospicash benefits, and comprehensive annual health check-ups.
