Andhra Pradesh - Hyderabad   

New deposit scheme for senior citizens

Special Correspondent

HYDERABAD: The Andhra Pradesh State Cooperative Bank Limited (APSCBL) has launched a novel `Aishwarya Deposit Scheme' - under which the bank offers interest at the rate of 8.75 per cent per annum for 400 days deposit for senior citizens.

A bank press release said that the minimum amount of deposit had been fixed at Rs.10,000 and the scheme was open only to individual depositors.

Senior citizens would earn an effective interest of 9.09 per cent while it would be 8.28 per cent for others.

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