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SBI, the country's largest lender,categorises its accounts into four types depending on their location, namely metro, urban, semi-urban and rural.

From savings to fixed deposit and recurring deposit, the post office today offers several types of investment options to the retail customer. For the current quarter, the government provides interest at the rate of 4-8.7 per cent on investment or deposit held in these small savings schemes, according to India Post.

The retirement fund body, EPFO, also allows a 100 per cent withdrawal - or full withdrawal - in case the subscriber is unemployed for two months.

NPS allows premature withdrawal from an account under certain conditions, according to pension regulator PFRDA's website - pfrda.org.in. NPS enables the subscriber to set his or her own choice for fund allocation to different asset classes, such as government securities, equity market instruments, corporate debt and alternative investment funds.

The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act

Life Insurance Corporation of India (LIC), the country's largest life insurance company, apart from insurance products also offers pension plans for senior citizens. LIC's Pradhan Mantri Vaya Vandana Yojana among other annuity or pension plans like LIC Jeevan Shanti and LIC Jeevan Akshay 6 is one of their pension plans offering for senior citizens. LIC's Pradhan Mantri Vaya Vandana Yojana can be purchased for a minimum lump sum payment of Rs 1,44,578 and maximum lump sum payment of Rs 15 lakhs to avail pensions for a policy term of 10 years.

SBI holiday savings account is generated in the name of the account holder as the account from which it is funded, according to the lender.

The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act

Life Insurance Corporation of India (LIC), the country's largest life insurance company, also offers endowment plans among its various insurance products. LIC's one such endowment product is LIC New Jeevan Anand plan. An endowment plan works in a slightly different manner compared with a term life insurance plan. An endowment insurance policy offers both investment and insurance benefits, whereas a term insurance policy only matures in the event of death of the insured and hence offers only insurance benefit, according to experts.

Leading banks such as State Bank of India, Punjab National Bank, HDFC Bank and ICICI Bank have fixed their monthly average balance

Small finance banks focus on financial inclusion by provision of savings vehicles and supply of credit to small business units

LIC Jeevan Shanti plan is a single premium plan wherein the policy holder has an option to choose an immediate or deferred annuity, according to LIC's website - licindia.in. The annuity rates are guaranteed at the inception of the policy for both immediate and deferred annuity and annuities are payable throughout the life time of annuitants.

Post office NPS account: Customers get an additional tax benefit up to Rs. 50,000 for investment in NPS

The post office recurring deposit account offers an interest rate of 7.3 per cent per annum, which is compounded quarterly.

Customers get a number of facilities such as debit and ATM cards and internet banking with BSBD account.