Bank of India launches Pensioner's credit card
Bank of India today announced the launch of Pensioners’ Credit Card and Pension Delivery at Doorsteps schemes here in collaboration with the postal department.
The scheme would allow the pensioners to get their pensions at their doorstep without going through the ordeal of coming to the branch, Bank of India Chairman and Managing Director M Balachandran told reporters.
The bank has tied up with the Post Office to deliver the pension at the doorsteps of the pensioner, he said adding the schemes has been launched on a pilot basis in Maharashtra.
The credit card allows for a maximum credit limit of Rs 50,000 and the rate of interest charged is 12 per cent per annum.
The bank has about 1.8 lakh pensioners as its customers in Maharashtra.
