Choose the Right Type of Account

• Opt for senior citizen savings accounts with enhanced benefits.
• Compare interest rates, minimum balance requirements, and service charges.
• Ensure the account supports fixed deposits, pension credits, and easy withdrawals.
• Look for banks offering doorstep or priority services for seniors.
• Select an account that matches regular income and transaction needs.

Verify Documentation and Eligibility

• Keep valid age proof like Aadhaar card, PAN card, or passport ready.
• Ensure address and identity proofs are current and correctly matched.
• Submit recent passport-size photographs as per bank requirements.
• Confirm minimum age eligibility (60 years) with the bank.
• Fill the account opening form carefully with accurate details.

Understand Account Features and Charges

• Check for hidden charges on ATM usage, cheque books, or account maintenance.
• Clarify interest payment frequency on savings and deposit accounts.
• Inquire about overdraft policies and premature withdrawal penalties.
• Review terms for debit card, mobile banking, and SMS alerts.
• Ask for written brochures outlining all account features and fees.

Enable Nomination and Joint Holding

• Appoint a nominee at the time of account opening to avoid legal issues.
• Consider opening the account jointly with a trusted family member.
• Choose an appropriate mode of operation like “Either or Survivor.”
• Ensure the nominee’s details are correctly entered and acknowledged.
• Review nomination periodically and update if needed.

Stay Aware of Security and Fraud Risks

• Do not share PINs, passwords, or account details with strangers.
• Enable SMS/email alerts for all account activities.
• Use secure devices and trusted networks for online banking.
• Consult the bank before responding to suspicious calls or emails.
• Regularly review bank statements and immediately report discrepancies.