24 January 2018
Sirji, Senior citizens can invest Rs15 lakhs in post office Senior citizen Account. Similarly nationalised banks also accepts these deposits whether it is allowed Dilip
24 January 2018
The typical Senior Citizen Saving Scheme (SCSS) account extends upto 5 years and upon maturity can be subsequently extended for an additional 3 years. The depositor is allowed to make one deposit into this account, an amount that is a multiple of Rs.1,000 and not extend beyond Rs.15 lakhs. SCSS accounts are robust, safe, highly targeted and a long term savings prospect. After spending a lifetime supporting others and running in the mad rat race of life, the various senior citizen saving schemes in India offer the aged folk a medium of effective savings for their twilight years.
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