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IND PENSION-PRIME PLUS

IND PENSION-PRIME PLUS

Target Customers All pensioners drawing Central, State Govt./ EPF pension (including Central forces, Armed forces, Navy, Paramilitary forces etc.) irrespective of age.
Joint Account Only with Spouse under Former/ Survivor Clause.
Initial Deposit NIL
Average monthly minimum balance NIL

(However, GPA coverage of Rs. 10.00 lakh shall be provided to all the customers maintaining MAB of Rs. 10000 and above)

Nomination Mandatory
Cheque Book 20 Cheques Free in a Calendar Year.
Sms Alert Charges Free
NEFT/ RTGS/ IMPS (Digital Channel) Free
Insta OD Facility Inbuilt OD facility to pensioners–

The in-built overdraft (OD) facility allows pensioners to avail an overdraft limit based on their monthly pension credit. The maximum limit of Rs 1,00,000/- or one-month pension credit, whichever is less. This ensures easy access to funds while maintaining financial flexibility.

The rate of interest (ROI) will be at par with ROI of the IB pension loan scheme on an ongoing basis.

At present ROI in the product will be: Repo Rate + Prime Spread + Spread which is as under:

Repo Rate Prime Spread Spread Effective ROI
5.50 % 2.70% 1.95% 10.15 %

(OD facility will be extended up to maximum age of 75 years for regular pensioners. No Insta-OD facility  for Family Pensioners to be extended)

Pension Loan Pension Loan up to 18 times of monthly pension credit for regular pensioners & for family pensioners max up to 12 times

(All terms and conditions of pension loan issued by Retail Asset Department from time to time applicable)

Personal Accidental Insurance
  • GPA Coverage of Rs. 10 lakh shall be provided to all pensioners maintaining MAB of Rs. 10000 and above. (Additional GPA coverage of Rs. 2.00 lakhs through RuPay platinum Debit Card)
  • GPA Coverage of Rs. 30 lakh shall be provided to all pensioners maintaining RTD of Rs. 20.00 lakh to Rs. 50.00 lakh.(Additional GPA coverage of Rs. 10.00 lakhs through RuPay Select Debit Card)
  • GPA Coverage of Rs. 50 lakh shall be provided to all pensioner maintaining RTD of more than Rs. 50.00 lakh. (Additional GPA coverage of Rs. 10.00 lakhs through RuPay Select Debit Card)
  • GPA insurance coverage is available up to the age of 75 Years
Health Care Consultation Facility Free Health Care Consultation facility for Pensioners & spouse will be provided through a Digital Health Care Platform ( Account Holder + 4 Family Members)
Jeevan Pramaan (Digital Life Certificate)/ VLC Pensioners can submit life certificate through the video life certificate facility via face authentication or  through jeevan pramaan portal.
ATM Debit Card RuPay Platinum Debit Card RuPay Select Debit Card
Free of cost Customized Rupay Platinum Debit Card for 1 years.

Special Offers under Rupay Platinum Debit Card*:

·      Domestic Airport lounge One (1) access per calendar year worth Rs.1000/.

·      International lounge One (1) time per calendar year per card worth of Rs.2000/-

·      Personal Accident Insurance cover (Accidental Death or Permanent Total Disability) of upto Rs. 2,00,000. Cardholder needs to perform minimum one successful RuPay Card induced financial transaction at any POS/E-com, Intra or Inter-bank i.e. on-us or off us within 30 days prior to date of accident including accident date of RuPay Cardholder.

 

Free of cost Customized Rupay Select Debit Card for customers maintaining MAB of Rs. 50000 and above (or) RTD of Rs. 30.00 lakh and above.

Special Offers under Rupay Select Debit Card*:

  • PA insurance coverage of Rs.10.00 Lakh
  • DOM Lounge access 1/quarter worth of Rs.1000/-
  • INT Lounge 2/year worth of Rs.4000/-
  • Health check-up 1/quarter worth of Rs.1000/-
  • OTT (1 complementary 12 months Amazon Prime or Hotstar membership or Sony Liv membership every year)  worth of Rs.1499/-
  • SPA/Saloon services 1/quarter worth of Rs.2000/-
  • Golf – 1 complementary Golf lesson or Round every quarter worth of Rs.2000/-

Apart from benefits of Rupay Select Debit card as above following benefits will also be included in customized card for pensioners:

·        Apollo Pharmacy Voucher worth INR 500 per quarter (Total Rs.2000 per year)

·        Netmeds Voucher worth INR 500 per quarter (Total Rs.2000 per year)

·        Lenskart Voucher worth INR 1000 per year

·        3 Month Swiggy One Membership once per year worth INR 55

(*subject to Terms and Conditions of NPCI/Rupay which may change from time to time).
Maximum withdrawal at other bank ATMs. 5 transactions free per month (Metro ATMs /Non Metro ATMs)
Lockers A fixed discount of Rs. 850/- or 50% concession on locker rent, whichever is lower to be extended.
Credit card Available subject to fulfilment of Banks eligibility criteria.
Mode of Withdrawal Cheque / Non -Cheque
Other Terms & Conditions
  • The account should be fully KYC compliant. Valid PAN/Form-60 should be obtained wherever applicable.
  • Branches can only open the account for Cust Type 010202 (Personal –Public –Pensioners).
  • Free Signature verification/Photo attestation/All certifications for pensioners.
  • Special assistance at branches with a dedicated senior citizen desk.
  • Door Step banking available for Senior Citizens above 70 years of age at applicable charges.

( Last modified on Jul 02, 2025 at 08:07:23 PM )

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