DBS Bank India unveils 'DBS Golden Circle', an exclusive priority banking program for senior

New program launched to provide exclusive benefits and services for resident Indian citizens aged 60 and above, simplifying and enhancing banking experiences.

 DBS Bank India has announced the launch of ‘DBS Golden Circle’, a comprehensive priority banking program meticulously designed to cater to the unique needs of senior citizens. This program offers a suite of exclusive benefits and services, making banking simpler and more rewarding for resident Indian citizens aged 60 years and above.

DBS Bank India launched 'DBS Golden Circle', a priority banking program for seniors. The launch marks the bank's 30th anniversary in India. DBS uses its branches and digital services to serve customers.

The India Ageing Report 2023 by the United Nations Population Fund highlights income insecurity as a significant vulnerability in old age. Navigating savings effectively during this stage of life is made more complex by increasing living costs and the challenge of accessing funds without compromising investments.

'DBS Golden Circle' addresses these concerns, and one of its key features is the interest rate offered on savings accounts and deposits. Senior citizens can earn an interest rate of up to 7% per annum on savings account balances above INR 4 Lakhs and up to INR 5 Lakhs. Additionally, they can benefit from an enhanced interest rate of 0.50% per annum on fixed deposits with a tenure ranging from 376 days to 540 days. These competitive interest rates enable senior citizens to effectively grow their savings and achieve greater financial stability.

Prashant Joshi, managing director and head of consumer banking group, DBS Bank India, said, "DBS Golden Circle is designed to make banking easier and more convenient for senior citizens, with a strong focus on trust, safety, and convenience. We empower our customers to enjoy their golden years by delivering a banking experience that is secure, reliable, and tailored to their unique needs. This aligns seamlessly with our brand promise of 'Live More, Bank Less’, as we combine the best of both worlds—tech-driven, tailored service complemented by a personal touch—to help senior citizens navigate banking confidently.”

Security is a key concern for senior citizens, and the ‘DBS Golden Circle’ program addresses this with cyber insurance coverage up to INR 1,00,000. The program recognises the importance of flexibility and accessibility in financial planning. Senior citizens can choose from flexible interest payout options for Fixed Deposits, including monthly, quarterly, or cumulative payouts. Moreover, fixed deposits with a tenure of over one year do not incur any penalties for premature withdrawals, ensuring that senior citizens have access to their funds in case of any emergencies.

The 'DBS Golden Circle' offers several benefits, including special overdraft rates against fixed deposits and loans on deposits. Members enjoy zero transaction fees for NEFT, RTGS, duplicate statements, and unlimited free domestic ATM transactions, along with lifetime free debit cards.

Additionally, there are discounts on locker rentals, providing a secure and cost-effective option for storing valuable items. The program also features a selection of products from leading life insurance companies and ecosystem partners, which includes curated health and wellness benefits, discounts on healthcare services, pharmacy discounts, hospicash benefits, and comprehensive annual health check-ups.

DBS has been recognised as the 'Safest Bank in Asia' by Global Finance for 15 years. Through its banking and wealth management platform, Treasures, DBS Bank India offers various services. Customers can access wealth solutions tailored to their needs and risk appetite, including insurance options for health, business, travel, and life. DBS Treasures customers also receive preferential remittance rates for money transfers abroad.

DBS Bank India's digiPortfolio combines human expertise and technology to help customers select ready-made portfolios of mutual funds tailored to their age, income, and risk appetite, including top-ranked mutual funds supported by research inputs from CRISIL. In 2023, the bank launched the DBS Vantage card, an invite-only, super premium credit card that offers a range of privileges, including complimentary memberships to luxurious hotels, a bespoke rewards program, and global travel benefits.