Senior citizens looking for reliable investment tools during their golden days can look for investing in Senior Citizens Savings Scheme (SCSS). Backed by the Government of India, this savings scheme offers lucrative interest rates, and one can invest up to Rs 30 lakhs in this SCSS.
You can open your SCSS account through any bank or post office. However, here we will discuss how to open SCSS account in SBI.
Related News |
Related News |
Meanwhile, senior citizens can extend the account for a further period of three years after the maturity period of five years.
Related News |
The lender has also highlighted that, “The deposit made at the time of opening of the account shall be paid on or after the expiry of five years or after the expiry of eight years where the account was extended from the date of the opening of the account.”
Also, “Premature Payment Permitted at any time after opening the account but with penalty.”
Related News |
An individual who has attained the age of 55 years or more but less than 60 years and who has retired on superannuation or otherwise on the date of opening an account. The retired personnel of Defence Services attaining the age of fifty years are eligible for opening SCSS account in SBI.
However, NRI's & Hindu Undivided Family are not eligible to open an account under these rules.
2024-09-16T12:45:01Z dg43tfdfdgfd