Bangkok--23 Apr--Siam Commercial Bank
In an effort to tap into the retirement age client sector, Siam Commercial Bank is introducing an exclusive “Worry-Free Savings for Senior Citizens” 12-month fixed deposit account. The account features attractive tax-free interest and one-year inpatient (IPD) health insurance coverage.
SCB Senior Executive Vice President and Head of the Retail and Business Banking Groups Mr. Yol Phokasub said the fixed deposit account is an exclusive savings choice for clients aged 55-70 years featuring an annual interest rate of 1.5% payable every 6 months, tax free if interest received is no more than 30,000 baht per tax year. Making the offer even more attractive, clients are entitled to special IPD health insurance coverage without having to undergo a health checkup or answer any questions related to their health.
Realizing the importance of this group of senior clients, Mr. Yol noted that SCB had studied their need for the development of saving products catering to what they wanted most, whether low risk, best return, or healthcare.
“Senior citizens aged 55-70 years are a group of people with savings amounts accumulated from a lifetime of work. They want to save money in a low-risk way and simultaneously need proper healthcare and medical treatment. However, due to their age they may be required to pay hefty premiums for health insurance. So, the fixed deposit account initiated under the “Worry-Free Saving for Senior Citizens” concept is one of the best choices available because it benefits them with both savings and health protection. We are confident the product will draw a good response from this target retirement age group of clients nationwide,” said Mr. Yol.
He added that clients opening accounts will get more benefits than those obtained from conventional fixed deposits in terms of security and savings deposit yield. To prove this, the interest return offered by the Bank without taxation will be higher than that of the general fixed deposit rate. Also, clients will be eligible for compensation for inpatient treatment at private and state hospitals and clinics, with coverage amounts of more than 100,000 baht/time throughout the one-year period. They need not make an advance arrangement if admitted for medical treatment at hospitals and clinics under contract with the Bank, including leading health care facilities such as Bamrungrad Hospital, Bangkok Hospital, and Samitivej Hospital.
Interested clients can open 12-month fixed deposit accounts with a minimum amount of 1 million baht and a maximum of 3 million baht at any SCB branch nationwide from now until June 30, 2014. For additional information, please dial 02-777-7777 around the clock.