Pensioners Savings Account

Features

1. A Pensioner’s Savings Account shall be opened only upon the receipt of an official request letter from the NPPF to open such an account.
2. Pensioner’s Savings Accounts shall be operated only by the account holder.
3. No deposits to the Pensioner’s Savings Account, other than the transfers made by the NPPF, shall be accepted.
4. Only personal withdrawals from the account, through withdrawal forms, shall be allowed. The withdrawal form should invariably be accompanied by the account passbook and the pension ID card for each withdrawal.
5. ATM cards and cheque facility is not to be allowed against Pensioner’s Savings Account unless otherwise stated.
6. An annual account maintenance fee only Nu.150.

Eligibility

1. An individual should be a pensioner

Requirements

1. A copy of valid Identification Document
2. TWO recent passport sized photographs
3. A dully completed separate CIF Opening Form (for first time on boarding)
4. For Pension Savings Account, a letter from the Pension Board mentioning all the details of the account holder and his/her children (if the account is required for a minor) is mandatory; the account will also be additionally governed by the rules framed by the board.