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What factors should be kept in mind while choosing a bank for senior citizens?

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What factors should be kept in mind while choosing a bank for senior citizens?
OLM Desk - 18 September 2017

What factors should be kept in mind while choosing a bank for senior citizens?

Sonia Narula, Chandigarh

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 only few banks that offer 24 hour banking operations, 12 hour banking is slowly becoming a norm. Also, look for core banking facility in the bank as it will help you deposit/ withdraw money from any place.

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