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Senior Citizen Savings Scheme: Savings scheme for senior citizens, will get the highest interest, know how to apply

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new Delhi. Senior Citizens Savings Scheme 2020: The Central Government has run many schemes (Central Government Yojana), taking responsibility of the people of all sections. One of them is for the Senior Citizens Savings Scheme. Here is the Senior Citizens Savings Scheme. Which is made for Indian residents over 60 years of age.

The deposit is matured (post office savings scheme) after 5 years from the date of account opening, but this period can be extended for an additional 3 years once. At the same time, this year, the Finance Minister has given relaxation in the limit of investment in Senior Citizen Savings Scheme (Post Office SCSS interest rate) for those who retired between February and April 2020.

By the way, anyone can invest 60 years (SCSS Eligibility) or more in this scheme (Post office, SCSS Eligibility). But according to the second rule, if a person aged 55 to 60 years has retired under the qualification of work due to Senior Citizens Savings Scheme 2020, then he can also invest in it (Post office SCSS Benefits). The only condition is that such a person has to apply to this scheme within 1 month.

Let us know how much amount we can deposit at least and maximum.

Under the Senior Citizens Savings Scheme 2020, depositors pay a minimum of Rs 1000. A lump sum deposit of Rs. Rs 1000 Amount exceeding Rs. 1000 Must accumulate multiples of. The maximum limit for depositing amount in SCSS (SCSS Eligibility) is 15 lakhs.

Know how many years maturity occurs

The amount deposited in the Senior Citizens Savings Scheme 2020 matures after 5 years from the date of account opening. However, the account holder (SCSS Eligibility) has the option to extend the account time limit to 3 years after maturity. This option is currently available only once and must be requested within 1 year of maturity of the SCSS account.

Attention should be paid to these conditions

– This scheme is available to any resident of 60 years of age or above.
Also, persons who have attained the age of 55 years but are less than 60 years of age are also eligible to apply for the Senior Citizen Savings Scheme, provided they retire under the applicable Retirement or VRS Rules. Are. In such cases, the account should be opened within 1 month of the receipt of the Retirement benefits.
– This scheme is also available for those retired defense personnel who are not of above age but fulfill other terms and conditions
– Non-Indian Citizen (NRI) and Person of Indian Origin (PIO) are not allowed to open Senior Citizen Savings Scheme account
– Also, members of Hindu Undivided Family (HUF) cannot open an account under these rules.

Apply online

– Available online as well as in Indian post offices.
– If you want to open your SCSS account in Indian post, you can download the SCSS application form from the official Indian post website https://www.indiapost.gov.in/VAS/DOP_PDFFiles/form/ApplicationFormForOpeningSCSS.pdf.

Know how to fill the form

Currently, SCSS account cannot be opened online, so after downloading the SCSS application form, you have to print it. It has to be filled and submitted to the post office / bank along with supporting documents. This information has to be given …

– Applicant’s name and PAN card
– Name of father / mother / husband / wife of primary applicant
– In case of joint SCSS account with spouse, you have to mention the name, age and address of your spouse.
– Amount and serial number of check / demand draft (if applicable)
– Name, age and address of the nominee

Account can be opened only in these banks

There are some banks providing SCSS account, which are as follows – Allahabad Bank, Andhra Bank, State Bank of India, Bank of Maharashtra, Bank of Baroda, Bank of India. Corporation Bank, Canara Bank, Central Bank of India, Dena Bank, Syndicate Bank, UCO Bank, Union Bank of India, Vijay Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, United Bank of India.

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