landing img
Plan

Doorstep Banking For Senior Citizens: Know The Services And Charges Of These 5 Banks

The Reserve Bank of India (RBI) guidelines require banks to provide doorstep banking services to senior citizens.

Avatar
Outlook Money
December 4, 2023
Low-Risk Appetite

Low-Risk Appetite

The Reserve Bank of India (RBI), through a circular on November 9, 2017, made it mandatory for all banks to provide doorstep banking services to senior citizens. Although the idea was initially floated in 2005, it became a reality in 2017, and all banking institutions, including commercial scheduled, small finance, and payment banks, must extend the service. However, some people may not know the eligibility or procedure for the doorstep service request.

In 2020, RBI made it compulsory for banks to provide the service pan-India and inform the public regarding their bank branches offering the service on their websites. Banks are also required to publish the service charges on their portals. Senior citizens over 70 years, differently-abled, and infirm individuals can avail of the doorstep banking services.

Here, we look at five banks offering doorstep banking services to senior citizens.

State Bank of India (SBI)

As per its website, SBI provides pick-up and delivery services for cash, cheques, requisition slips, Form 15H, life certificates, know-your-customer (KYC) documents, etc., and fixed deposit advice. Cash transactions are limited to Rs 20,000 per daily transaction for deposit and withdrawal. To avail of these services, the customer should have a registered mobile number with the bank, and the registered address must be within a five-kilometer radius of the home branch.

For financial transactions, such as cash pick-up or withdrawal, SBI charges Rs 100 plus GST per visit and Rs 60 plus GST for non-financial transactions. The customer has to register for the facility with the home branch before availing of the services. They can do so using the bank’s website, mobile app, or toll-free number 1800 1111 03.

Central Bank of India

The bank offers pick-up and delivery services for cash, KYC documents, life certificates, Form 15H, tax challan, cheque book, demand draft, etc., to old and differently-abled customers. They can receive non-personalised cheque books, demand drafts, term deposit advice, TDS certificates, and bank account statements in the comfort of their homes.

However, the bank provides doorstep banking services only within a 3-km radius of the home branch and charges Rs 75 plus GST for every visit. The customer can register for the service through the bank’s website, app, or on the customer care numbers 1800 22 1911 and 1800 202 1911.

HDFC Bank

One can request doorstep banking service by calling the bank’s phone banking numbers 1800 202 6161 and 1860 267 6161. HDFC offers pick-up and delivery services for cash (minimum Rs 5,000 and maximum Rs 25,000) on self-drawn cheques, demand draft requests, etc. It charges Rs 200 plus taxes for every call/visit for transactions like cash pick-up and delivery and Rs 100 plus taxes for cheques and demand draft services.

ICICI Bank

The bank offers financial and non-financial services to seniors through doorstep banking, including cash pick-up and delivery, cheques, demand drafts, life certificates, KYC documents, etc., from the customer’s registered address. ICICI offers free doorstep banking to seniors aged 60 and older, as per the bank’s website. Also, there is no requirement for pre-service registration. The individual can call the customer care number 1800 1080 to make the request.

India Post Payment Bank (IPPB)

IPPB’s doorstep banking services include cash deposit and withdrawal, bill payments, money transfer, delivery of account statements, updation of nomination details, generating digital life certificates, and third-party services, like life and general insurance, mutual funds, etc., and payment for public provident fund (PPF), recurring deposits (RD), Sukanya Samriddhi, etc.
As per its website, there are no charges for the services. One can call its customer care number, 155299, for more information and to avail of its services.

Related Articles

Advertisement

Advertisement

Previous Retirement Issues

  • magzine
  • magzine
  • magzine
  • magzine

Group Publications

  • magzine
  • magzine
  • magzine
  • magzine