Features different from other schemes

Separate form for opening account available. Check whether account open within three months from the date of receipt of all retirement benefit. For voluntarily retired person, account must be opened within one month from the date of receipt of retirement benefits. Photograph and Permanent Account Number is must. Age 60 years and for voluntarily retired person 55 years Can be opened with spouse.

Minimum deposit Rs.1000/- and multiple thereof Maximum deposit Rs.1500000/Rate of interest 9 % payable quarterly basis. Senior citizen savings Account matured after Completion of Six years. If prematurely closed following amount will be deducted from principal amount. After One year and Before Two year = 1.5 % After Two years = 1 % Account can be extended for further three years after maturity.