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About the Saving account which caters senior citizen category with a debit card that has cashback benefits.

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Shekhar_kapoor

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Hi Members
My Mother is in the senior citizen category and I am looking for a savings account with a good rate of interest and a debit card that offers cashback benefits so that I can use it in cc bill payments as well. Can anyone recommend a bank with a saving account variant along with debit card variants that meet these requirements? I'm specifically interested in banks that best cater to senior citizens, so any recommendations specific to that demographic would be greatly appreciated. Thanks in advance for any help!
 
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U can try Ujjivan SFB, Au SFB and check out youtube channel "sahaj Info" for fixed instrument related suggestions they are good and updates u on fixed interest instrument regularly
 
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Shekhar_kapoor said:
Hi Members
My Mother is in the senior citizen category and I am looking for a savings account with a good rate of interest and a debit card that offers cashback benefits so that I can use it in cc bill payments as well. Can anyone recommend a bank with a saving account variant along with debit card variants that meet these requirements? I'm specifically interested in banks that best cater to senior citizens, so any recommendations specific to that demographic would be greatly appreciated. Thanks in advance for any help!
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You can try AXIS itself(if it fits your requirement), they have some great program and lot of account variants as well including Burgundy.

Silver Linings Program - Senior Citizen Privileges - Axis Bank

Enjoy the complimentary membership of Silver Linings Program on opening Senior Savings Accounts. This program gives you access to the host of benefits; visit to know more.
www.axisbank.com www.axisbank.com

1672852119746.png
 
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RajBlr said:
You can try AXIS itself(if it fits your requirement), they have some great program and lot of account variants as well including Burgundy.

Silver Linings Program - Senior Citizen Privileges - Axis Bank

Enjoy the complimentary membership of Silver Linings Program on opening Senior Savings Accounts. This program gives you access to the host of benefits; visit to know more.
www.axisbank.com www.axisbank.com

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he also asked for good interest rate which axis never provides. also axis is a cunning bank and better to keep senior citizens away from axis
 
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windows10 said:
he also asked for good interest rate which axis never provides. also axis is a cunning bank and better to keep senior citizens away from axis
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I was just thinking from the Capital protection perspective as well, not just get lured by the Interest rates offered by small finance banks.

I do see AXIS revised rates are on par with PSU banks including SBI.



1672855137106.png



THe channel you shared has a recent comparision of PSU banks interest



1672855261917.png
 
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RajBlr said:
I was just thinking from the Capital protection perspective as well, not just get lured by the Interest rates offered by small finance banks.
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This is very important for senior citizens. For capital protection, please don't choose small finance banks.

They have very few branches. If any problem occurs, then it would be the very problematic situation for senior citizen people to travel miles just to get things sorted.

I've also heard from their customers that they freeze account unnecessarily and money gets stuck for months.
 
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windows10 said:
he also asked for good interest rate which axis never provides. also axis is a cunning bank and better to keep senior citizens away from axis
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On the AX-is cunning bank, I can't comment, as everyone's perspective is always different from how well they received their services.

Just to share my 2 cents on it...

My friend is against Citibank comparing HDFC, as he had bad experience with them for whatever services he availed, he didn't like it.

One of my friend hates HDFC credit card(specifically), he doesn't use besides their Debit cards, despite I keep educating him on HDFC benefits on Ccards.

The list goes on, point is perspective and the experience any one gets remains forever.
 
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axis deducts unknown charges on a regular basis. also their fd rates even less than sbi which is a psu bank thus lesser risk. so its always better for a senior citizen to opt for sfbs for higher rate of interest along with respecting 5lakh threshold and also complete the 15 lakh quota of scss before making any kind of fd in any bank
 
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windows10 said:
axis deducts unknown charges on a regular basis. also their fd rates even less than sbi which is a psu bank thus lesser risk. so its always better for a senior citizen to opt for sfbs for higher rate of interest along with respecting 5lakh threshold and also complete the 15 lakh quota of scss before making any kind of fd in any bank
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That I agree Axis deducts several unknown charges. But still there are other banks which offers good interest rates like IDFC First.

Senior citizens (especially) should not open accounts in Small Finance Banks.
 
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