Senior Citizens Savings Scheme

URI: https://gptkb.org/entity/Senior_Citizens_Savings_Scheme
GPTKB entity
Statements (31)
Predicate Object
gptkbp:instanceOf government savings scheme
gptkbp:accountCanBeOpenedBy cash
cheque
demand draft
gptkbp:age 60
gptkbp:availableOn post offices
authorized banks
gptkbp:country gptkb:India
https://www.w3.org/2000/01/rdf-schema#label Senior Citizens Savings Scheme
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gptkbp:prematureWithdrawalPenalty 1.5% if withdrawn before 2 years, 1% if after 2 years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 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:Department_of_Posts
gptkb:India_Post
gptkbp:bfsLayer 6