Can I open senior citizen saving scheme in HDFC Bank?
This is considered to be the age of 60 years. Therefore, you must be either 60 years of age, or above to qualify for a senior citizen's savings account. In case of a joint Senior Citizens Savings Account, the first applicant must be a senior citizen. Now the next step: how to open a Senior Citizen Savings Account.
Senior citizen investors can claim a maximum deduction of Rs 1.5 lakh per year by investing in these Tax-Saving Fixed Deposits. Bank Fixed Deposits are popular choices among senior citizens because once you invest in an FD, you can cash the interest on a monthly, quarterly or yearly basis.
You can open a Senior Citizens Savings Scheme account at all India Post Offices. You will need to fill the account opening form and submit it along with copies of KYC documents including proof of identity, proof of address and proof of age along with 2 recent passport size photographs.
- Andhra Bank.
- Allahabad Bank.
- Bank of Baroda.
- Bank of India.
- Bank of Maharashtra.
- Canara Bank.
- Central Bank of India.
- Corporation Bank.
Yes. Both the Spouses can open individual and/or joint accounts with each other with the maximum deposits upto Rs. 15 Lakh each, provided both are individually eligible to invest under relevant provisions of the rules governing the scheme.
Senior citizens aged 60 years or more can invest in PMVVY and SCSS schemes. The maximum investment permissible is up to Rs 15 lakh in each scheme.
Fill Senior Citizen Saving Scheme form ||Scss Form kaise fill kare||SBI
Visit any post office or bank which has been authorized to open a senior citizen saving scheme account. Fill the account opening form. Collect all the documents, self-attest them, and submit them along with the filled account opening form. Once your account is opened, you will be given your account's 'passbook'.
The Senior Citizen Savings Scheme account can be opened in any bank or post office across India. Some banks also offer this facility online. In addition, a person can hold more than one SCSS account, provided that the combined maximum amount does not exceed Rs. 15 lakhs.
One can invest a maximum of Rs 15 lakh in Senior Citizens' Savings Scheme (SCSS) in their individual capacity. But one can hold a joint account with one's spouse, where the spouse has to be a first holder, and deposit another Rs 15 lakh. So, effectively, one can deposit a maximum amount of Rs 30 lakh.
Which bank is best for senior citizens in India?
| Bank Name | Interest Rates (% p.a.) | |
|---|---|---|
| HDFC Bank | 6.50 | 6.00 |
| ICICI Bank | 6.50 | 6.00 |
| IDFC First Bank | 7.00 | 7.00 |
| IndusInd Bank | 7.00 | 7.00 |
Residents of India who fall within the age group of 60 years and above, can open a Senior Citizen's Account. For a joint account, a senior citizen will have to be the primary/first applicant.
- Senior citizens of India aged 60 years or above.
- Citizens who have opted for the Voluntary Retirement Scheme (VRS) or Superannuation and in the age bracket of 55-60 years.
- Retired defense personnel above 50 years of age and below 60 years of age.
HDFC Bank charges a fee to the tune of ₹ 150-600 (excluding taxes) for insufficient balance in regular savings accounts held in its metro, urban and semi-urban branches.
One can invest a maximum of Rs 15 lakh in Senior Citizens' Savings Scheme (SCSS) in their individual capacity. But one can hold a joint account with one's spouse, where the spouse has to be a first holder, and deposit another Rs 15 lakh. So, effectively, one can deposit a maximum amount of Rs 30 lakh.
A Senior Citizen Savings Scheme (SCSS) account has a tenure of five years and the deposited amount is paid back to the investor on maturity. While the depositor can open a new SCSS account after the maturity, however, the depositor has the option to extend the maturity by three years.
The government of India offers the Senior Citizens' Savings Scheme (SCSS) that assists senior citizens in saving for retirement and receiving quarterly interest payments. SCSS offers an interest rate of 7.4% for the quarter ending 31 March 2022. You can open an SCSS account with a minimum deposit of Rs. 1,000.
