Senior Citizen Saving Scheme 2020 – Eligibility, Investment Amount, Benefits all details

Senior Citizen Saving Scheme is a government based saving scheme offered to the Indian residents aged 60 years. The amount deposit in the scheme matures after the 5 years of the savings from the date of the opening of the account and only extended in 3 years. Senior Citizen Saving Scheme is available through the Public, Private banks and through the Post Offices of India. There is also Some terms and condition as this scheme is govt based. Be in touch with us to get all the latest updates and information for free on a single click on a single place without any hassle. Be regular on this page to get all the info regarding the SCSS.Senior Citizen Saving Scheme 2019

Know the Senior Citizen Saving Scheme 2020 – Eligibility, Investment Amount, Benefits all details

The Following People are Eligible for this Senior Citizen Savings Scheme :

  • Senior Citizens of India Aged 60 yrs or above
  • Retire people who are in the Voluntary Retirement Scheme in the age between 55 to 60
  • The Investment has to be done within the month after receiving the retirement amount
  • The people who are retired with a minimum age of 50 yrs
  • This Scheme is not for NRI and HUF

The Investment Amount for the SCSS:

  • A person can invest the maximum amount of 15 Lakhs
  • A person can Invest amount individually or with joint
  • Investment can be done in multiples of 1000
  • A person can Invest 15 lakhs or the amount received in the retirement benefits
  • The account can be opened by 1 lakh

Benefits of this Senior Citizen Saving Scheme 2020:

  • Safe
  • Reliable
  • Flexible
  • Tax Benefits
  • Nomination
  • Simple and easy process
  • Good return

Get Your Senior Citizen Saving Scheme Interest Rate 2020 – [Get the SCSS Calculator]

Year Interest Rate
2018-19 (Q1) 8.3 %
2018-19 (Q2) 8.3 %
2018-19 (Q3) 8.7%
2017-18 (Q1) 8.4 %
2017-18 (Q2) 8.3 %
2017-18 (Q3) 8.3 %
2017-18 (Q4) 8.3 %
2016-17 8.5 %
2015-16 9.3 %
2014-15 9.2 %
2013-14 2016-17
2012-13 9.3 %
up to 2012 9 %

Senior Citizen Saving Scheme in Banks SCSS Schemes

Bank Name
UCO Bank
State Bank of India
Syndicate bank
Allahabad Bank
Bank of India
Corporation Bank
Central Bank Of India
Canara Bank
IDBI Bank
Dena Bank
Indian Overseas Bank
Indian Bank
Bank OF Baroda
Andhra bank
Bank of Maharashtra
Punjab Bank
Union Bank
ICICI Bank
Vijaya Bank

How to Apply for the HDFC Senior Citizen Pension Plan

  • You can open the SCSS Account in the post Office
  • This Scheme Form is to be filled to open the SCSS Account
  • Need Of Identity Card for the Account
  • Address Proof Is needed
  • Age Certificate is needed
  • 2 passport size photographs and all the documents are must be attested.

CLICK HERE to Download SCSS Form and be regular on your page to get all updates and information

Leave a Reply

Your email address will not be published. Required fields are marked *