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GTB offers 'Pranaam' to elders

Syed Amin Jafri in Hyderabad

The Hyderabad-based Global Trust Bank offers 'Pranaam' -- a new deposit scheme designed to benefit the senior citizens.

GTB's 'Pranaam' gives the senior citizens an option not only to earn higher interest but also enjoy additional benefits, such as access to MyTime ATM's, 2424 PhoneBanking, etc.

In a statement in Hyderabad, the bank said that 'Pranaam' deposit scheme offers the senior citizen an opportunity to earn up to 0.6 per cent per annum extra compared to a normal fixed deposit interest offered by the Bank.

Besides, the 'Pranaam' deposit can be opened in single and joint names for tenures ranging from 15 days to 10 years.

"Pranaam has been designed keeping in mind the unique needs of the senior citizens. The features of the scheme include the facility to open the account at home, structured monthly interest payment plan, nomination facility, etc," the bank said.

"Further, with the Pranaam deposit, senior citizens can opt to open a savings account at GTB with no minimum balance stipulation. This will facilitate direct credit of interest from the Pranaam deposit, 24X7 access at all MyTime ATM centres, 2424 PhoneBanking, Internet Banking and three free personal demand drafts per month," GTB said.

Since its inception in 1994,Global Trust Bank has been very technology-savvy, using the latest in information technology to serve the needs of its customers through products such as Internet Banking, Anywhere Banking, MyTime ATM, 2424 PhoneBanking, Mobile Banking etc.

For the year ending March 31, 2001, GTB's deposits stood at Rs 77.34 billion, advances at Rs 40.99 billion and net profit at Rs 803.3 million.

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