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Senior Citizens’ Savings Scheme


  • Minimum deposit ₹1000/- & in the multiples thereof with maximum deposit of ₹30 lacs.

  • An individual who has attained the age of 60 years 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, VRS or Special VRS, can open an account.

  • Retired personnel of Defence Services (excluding Civilian Defence employees) may open an account on attaining the age of fifty years subject to the fulfilment of other specified conditions.

  • A depositor may open an account individually or jointly with spouse.

  • 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.

  • The account can be closed after expiry of 5 years from the date of opening of account.

  • The depositor may extend the account for further period of 3 years.

  • Premature closure is permissible subject to certain conditions.

  • Deposits in SCSS qualify for deduction u/s 80-C of Income Tax Act.

Click for Scheme Rule( 2004 and 2019 )

Click for Scheme Forms.

Click for Interest Rate.

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National Savings Institute, Ministry of Finance (DEA) Govt. of India First Floor,ICCW Building.4,Deen Dayal Upadhayaya Marg,New Delhi-110002.
E-mail ID : nsi[at]nsiindia[dot]gov[dot]in