New deposit scheme has been introduced by Repco Bank, an enterprise of Indian Government. The scheme which is specially meant for the senior citizens has some extra benefits to offer to the customers.

The ‘monthly deposit scheme', offered by the bank requires a senior citizen to invest a minimum amount of Rs. 1 lac for a period of 24 months. Banks is offering an interest rate of 11% on the scheme.

A special feature of this scheme is that the monthly interest earned by the deposited amount will be available to the customer at his door step.
The scheme is in effect from December 1.