Repco Bank has announced that it will continue to offer the special fixed deposit scheme that it extends to the senior citizens. The bank is a Government of India enterprise. Bank took the decision considering the huge demand from the customers.
Under this scheme, the bank offers an interest rate of 11.00% to the senior citizens. A customer needs to invest a minimum of Rs. 1 lac under the scheme for tenure of 24 months.
Apart from the lucrative interest rate, another attractive feature of the scheme is that the monthly interest is paid at the doorstep of the customer.