Ministry of Finance / Department of Posts
Senior Citizen Savings Scheme (SCSS)
8.2% annual interest (revised quarterly by the government), credited every quarter; deposits also qualify for Section 80C tax deduction up to ₹1.5 lakh
Quarterly interest payout
A government-backed savings scheme available at banks and post offices that gives senior citizens a safe, high-interest investment option with quarterly interest payouts, designed to provide steady retirement income.
Am I Eligible?
Quick check — answer 3 questions
Is your age between 50 and 100 years?
Is your annual family income under ₹1 Cr?
Do you live in India?
Benefit Details
8.2% annual interest (revised quarterly by the government), credited every quarter; deposits also qualify for Section 80C tax deduction up to ₹1.5 lakh
Provided by Central Government
Quarterly interest payout
Eligibility Criteria
Individuals aged 60+; retired civilian employees aged 55-60 (within 1 month of receiving retirement benefits); retired defence personnel aged 50-60 (within 1 month of retirement benefits)
50 to 100 years
Up to ₹1 Cr / year
Rural & Urban (Both)
Required Documents
💡 Tip: Keep original documents and 2 photocopies ready. Self-attest all photocopies.
How to Apply
Choose bank or post office
offlineVisit any authorised bank branch or post office
Collect SCSS form
offlineRequest the SCSS account opening form
Fill and submit
offlineComplete the form with KYC documents and age proof
Deposit amount
offlineDeposit between ₹1,000 and ₹30 lakh (in multiples of ₹1,000)
Receive quarterly interest
onlineInterest is credited to your savings account every quarter (1 Apr, 1 Jul, 1 Oct, 1 Jan)
Frequently Asked Questions
Quick Summary
Related Schemes
Antyodaya Anna Yojana (AAY)
35 kg of wheat/rice per family per month — at ₹2/kg for wheat and ₹3/kg for rice under AAY; free of cost under PMGKAY (Pradhan Mantri Garib Kalyan Anna Yojana) till December 2029
DigiLocker
Free secure cloud storage for 1,500+ official documents linked to Aadhaar; documents have legal validity equal to physical originals; no need to carry physical documents for verification; share documents instantly with government agencies, banks, and educational institutions
Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY)
5 kg of rice or wheat per person per month completely FREE for all NFSA ration card holders; AAY families get 35 kg per family per month; scheme extended till December 2029; benefit flows through existing ration card — no new registration
Pradhan Mantri Jan Dhan Yojana (PMJDY)
Zero-balance savings account + free RuPay debit card + ₹2 lakh accident insurance cover + overdraft facility up to ₹10,000 (after 6 months of good account behaviour) + direct benefit transfer (DBT) for all government scheme payments
⚠️ Disclaimer: Information is compiled from official government sources for guidance purposes. Eligibility and benefits may vary. Always verify with the official portal or nearest government office before applying.
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