Senior Citizens Savings Scheme

Senior Citizens Saving Scheme

Any depositor may open an account at any deposit office by making an application in Form A along with the amount of deposit in multiple of one thousand rupees, along with age proof.

A depositor may operate more than one account subject to the condition that deposits in all accounts taken together shall not exceed the maximum limit of Rs.15 lakhs and provided that deposits by depositors shall be restricted to the retirement benefits or Rupees Fifteen lakhs whichever is lower.

A depositor may open the account in individual capacity or jointly with spouse.

Interest Rates