Senior Citizens Savings Scheme

GPTKB entity

Predicate	Object
gptkbp:instanceOf	gptkb:government_savings_scheme
gptkbp:accountCanBeOpenedBy	cash cheque demand draft
gptkbp:age	60
gptkbp:availableOn	post offices authorized banks
gptkbp:country	gptkb:India
gptkbp:interestPayoutFrequency	quarterly
gptkbp:jointAccountAllowed	yes (with spouse only)
gptkbp:launched	gptkb:Government_of_India
gptkbp:mainInterest	8.2% (as of 2024)
gptkbp:maximumLoanAmount	30 lakh INR
gptkbp:minimumAgeForRetiredDefensePersonnel	55
gptkbp:minimumInvestment	1000 INR
gptkbp:nominationFacility	yes
gptkbp:prematureWithdrawalAllowed	yes
gptkbp:prematureWithdrawalPenalty	1.5% if withdrawn before 2 years, 1% if after 2 years
gptkbp:targetAudience	senior citizens
gptkbp:targetUser	gptkb:single
gptkbp:taxBenefitSection	Section 80C
gptkbp:taxOnInterest	taxable
gptkbp:TDSApplicable	yes (if interest exceeds threshold)
gptkbp:tenure	5 years
gptkbp:tenureExtension	3 years
gptkbp:transferableAcrossIndia	yes
gptkbp:bfsParent	gptkb:Ministry_of_Finance_(India) gptkb:India_Post
gptkbp:bfsLayer	6
https://www.w3.org/2000/01/rdf-schema#label	Senior Citizens Savings Scheme