What is the full form of SCSS?

Senior Citizen Savings Scheme (SCSS) is a government-sponsored savings instrument launched in 2004, intending to provide senior citizens with a steady and secure source of income for their post-retirement life. .

What are the rules for SCSS?

Deposit a minimum amount of Rs. 1,000 up to a maximum of Rs. 30 lakh in a single instalment to open an SCSS account. The deposited amount should be restricted to the retirement benefits received and must be deposited within a month from the date of receiving such benefits from the employer.

How to invest 30 lakhs in SCSS?

Ans. You can deposit money in your SCSS account only in a single payment. Thus, as an account holder you can operate more than one account under the scheme subject to the condition that the deposits in all the accounts taken together shall not exceed the maximum limit of Rs. 30 lakh.

What is form b for scss?

APPLICATION FOR EXTENSION OF AN ACCOUNT UNDER SENIOR CITIZENS SAVINGS SCHEME, 2004.

What is the full form of SCSS in SBI?

An account in the Senior Citizen Savings Scheme by SBI can be opened in any of the branches of the State Bank of India. One has to provide the following documents for opening an SBI SCSS account: Form A. Proof of address such as telephone bill, Aadhar card, etc.

What happens to SCSS after 8 years?

The SCSS has a fixed tenure of five years, after which the deposited money is returned to the investor. If desired, the account holder could extend the same account for an additional three years. However, this extension was allowed just once.

What is Form A for SCSS?

resident of , aged years, hereby apply for opening of an account under the Senior Citizens Savings Scheme, 2004, (hereinafter referred to as the said scheme), in My Name / Jointly in My Name and My Spouse (Name and address of spouse with age)* and tender herewith Rupees Only) in Cash / Cheque / Demand Draft, the ...

How to apply SCSS online?

Online application facility is not available for SCSS. In order to open a SCSS account, the customer must visit the post office or bank branch and fill up the related form. The same form should be attached with KYC documents, age proof, ID proof, Address proof and cheque for deposit amount.

Get Scss Form Download

NCH NAME : SBI BRANCH NAME : NAME & ADDRESS OF DEPOSITOR: NAME & ADDRESS OF DEPOSITOR: FATHER/HUSBAND NAME : FATHER/HUSBAND NAME : SCSS A/C NO SCSS A/C NO : : AMOUNT OF DEPOSIT AMOUNT OF DEPOSIT CHEQUE / DD REALISATION CHARGE CHEQUE / DD REALISATION CHARGE ACCOUNT TRANSFER FEES ACCOUNT TRANSFER FEES DUPLIC.

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