assists senior citizens in saving for retirement and receiving quarterly interest payments
Only one deposit in the account in multiple of INR 1000/- maximum not exceeding of INR 15 lakh.
Feature
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An individual above 60 years, Joint Holder, Retire Civilian Employee above 55 Civil Defense Employee above 50
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Interest shall be payable on quarterly basis No TDS will be deducted if form 15 G/15H
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Account can be prematurely closed any time after date of opening closed before 1 year, no interest will be payable
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Account may be closed after 5 year from the date of opening by submitting prescribed application
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In case of death of account holder, from the date of death, account shall earn interest at the rate of PO Savings Account.
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full detail article
Post Office Senior Citizen Saving Scheme offers many benefits to individuals. .
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