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BANKING SERVICES FOR SENIOR CITIZENS
By
Emoha Elder Care

Never have been a time when finances have been less important in one’s life. However the importance of it drastically rises with age as financial means are required for proper care and support for the elderly in their old age. The importance of it increases fourfold for elderly suffering with chronic diseases that require high care and for elderly that live by themselves.


Everyday banking services for senior citizens like making account enquiries, transferring money, paying bills, applying for loans, directing deposits to ATM services, with age can seem like a task for some. Hence here at Emoha Elder Care we offer banking services for senior citizens that are available at their doorstep.
 

Since most people in this category are not aware of these facilities, we have listed out the banking services in India available to them. Banking services for senior citizens include home delivery of banking services for senior citizens, dedicated counters, cheque book facility, and auto conversion of KYC- compliant account status into senior citizen accounts.


Banking services in India already include providing a wide range of banking services for senior citizens such as cash pick up, pick up of instruments, delivery of demand drafts, cash and cheque book delivery right at the doorstep of elderly above the age of 70 years.
 

•    As per RBI rules, counters dedicated to banking services for the elderly and specially- abled in every bank to provide services on priority to them.
 

•    Auto conversion of fully KYC-compliant account status into senior citizen accounts can be done by a bank on the basis of the proof of date of birth in the bank’s records. 
 

•    A minimum of 25 cheque leaves a year free of cost on opening a savings account are banking services for saving the hassle of getting a cheque book. Banks are to issue cheque books to customers through a requisition slip, whenever a request is received. 
 

•    Under the Jeevan Praman scheme, as per the guidelines issued by the Government, along with the Digital Life Certificate facility, physical life certificate form can also be submitted at any branch, even non home branch by pensioners of the bank. 
 

•    As for additional services, banks are to extend special facilities to sick, old and incapacitated customers. Identification and account operation can be done through thumb or toe impression or by a mark by two independent witnesses. An authorized person can also help by withdrawing the amount on behalf of these people.
 

•    Grievance Redressal by the banking services in India are available internally for redressing complaints about services rendered. 
 

Managing your finances from home for an elderly is now made easier with doorstep banking services which otherwise can become very overwhelming with age. With Emoha’s Assure plan, find assistance for your banking needs and help make your old age worryfree. Read more about the Assure plan here: www.emoha.com/plans/assure

 

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