SCBL launches innovative saving schemes for senior citizens, women
Srinagar: The J and K State Cooperative Bank has launched innovative saving schemes for senior citizens and women, an official spokesman of the bank said.
Chairman of the Bank, MS Dar said the schemes have been launched with a well thought out intent to help senior citizens and women earn higher returns on their investments with monthly rests while keeping their investments in liquid state.
Dar said that the bank regularly tailors its products to meet the demands at grass root level. He said that the essence of cooperativisim is financial upliftment and well being of the vulnerable strata of the society.
Dar expressed hope that the customers would benefit from the new schemes.
Managing Director, M Lateif said that the senior citizen saving scheme is an innovative product.
“Under the scheme, customers will earn higher rate of interest on their savings account with free accidental insurance cover. Besides, most of the charges have been waived off,” he said.
Latief said that the customers will have the option to receive interest on monthly basis while as at same time they can withdraw the money at their will.
He said that the women saving scheme has been devised on similar pattern, with free life insurance being an additional feature. He said that keeping in view the limited resources of the women, minimum balance requirement has been fixed at minimum possible level.
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