A society in which Senior Citizens live a healthy, happy, empowered, dignified and self-reliant life along with strong social and inter-generational bonding.

1. D R . A N J A L A T C H I M U T H U K U M A R A N
V I C E P R I N C I P A L
E R A C O L L E G E O F N U R S I N G
S A R F R A Z G A N J
L U C K N O W - 2 2 6 0 0 3
Senior Citizen Saving Scheme

2. Content to be discussed
 Benefits
 Eligibility
 Whom to contact
 Application form

3. Introduction
 Senior Citizen Saving Scheme is an an ideal scheme
for senior citizens and for those who have retired
either from service, to provide security in old age.

4. Benefits
 Interest shall be payable from the date of deposit to
31st march/ 30th June/ 30th September/ 31st
December on 1st working day of
April/July/October/January as the case may be, in
the first instance and thereafter, interest shall be
payable on 1st working day of
April/July/October/January on quarterly basis.
 Current Rate of Interest Payable ie. 8.6%
 Deposits in SCSS qualify for deduction u/s 80-C of
Income Tax Act.

5. Eligibility
 An individual who has attained the age of 60 year or above on the date of
opening of an account or an individual who has attained the age of 55
years or more but less than 60 years and has retired under
superannuation or otherwise.
 A retired Personnel of Defense Services (Excluding Civilian Defense
Employees), who has attained the age of 50 years can also subscribe to
the scheme subject to fulfillment of other specified conditions.
 A depositor may open an account individually or jointly with spouse.
 The deposit in the account shall be in the multiples of 1000/- and not
exceeding Rs. 15 lakh.
 The account can be closed after expiry of 5 year from the date of opening
of account.
 The depositor may extend the account for further period of 3 years.
 Premature closure is permissible after expiry of one year from the date of
opening account subject to certain conditions.

6. Whom to contact
 Account can be opened in Post office and branches of
authorized banks.

7. Application form
 Click here for Scheme related Forms.
 For more information about the scheme, click here.