DBS Bank India has introduced 'DBS Golden Circle,' a specialized priority banking program designed to cater specifically to senior citizens. This new initiative, which celebrates the bank’s 30th anniversary in India, offers a range of benefits tailored to the needs of residents aged 60 and above.
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The launch of the DBS Golden Circle addresses significant concerns highlighted in the India Ageing Report 2023 by the United Nations Population Fund, particularly income insecurity and the challenge of managing savings amidst rising living costs. The program features competitive interest rates to help seniors enhance their financial stability. Senior citizens can earn up to 7% per annum on savings account balances exceeding INR 4 Lakhs, and up to 0.50% more on fixed deposits with tenures ranging from 376 to 540 days.
Prashant Joshi, Managing Director and Head of Consumer Banking Group at DBS Bank India, emphasized the program’s focus on trust, safety, and convenience. “DBS Golden Circle is crafted to simplify banking for senior citizens, combining advanced technology with a personal touch to support their financial needs,” Joshi said.
The program also addresses security concerns by providing cyber insurance coverage up to INR 1,00,000. Other features include flexible interest payout options for fixed deposits, zero transaction fees for various banking services, lifetime free debit cards, and discounted locker rentals. DBS Golden Circle also offers special overdraft rates and access to curated health and wellness benefits through partnerships with leading insurance and healthcare providers.
DBS Bank India, recognized as the 'Safest Bank in Asia' by Global Finance for 15 years, leverages its global expertise and local insights to enhance customer experience. The bank’s commitment to digital banking education includes guiding senior citizens on navigating online services securely and avoiding scams.
With its new program, DBS Bank India aims to provide a secure, convenient, and rewarding banking experience for its senior customers, helping them manage their finances effectively and enjoy their golden years.
