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Can I open multiple SCSS account in different banks?
A. Yes. Both the Spouses can open individual and/or joint accounts with each other with the maximum deposits upto Rs. 15 Lakh each, provided both are individually eligible to invest under relevant provisions of the rules governing the scheme.
How many senior citizen savings accounts can be opened?
Multiple Accounts- An individual can open multiple Senior Citizen Savings Scheme accounts, individually or as a joint investor. The other investor must be the spouse of the primary investor. Amazing Returns-At the rate of 8.7 percent/year, the returns on the SCSS are very satisfying.
What is the maximum limit of savings bank account?
There is no ceiling on maximum balance in Savings Bank account, except for Minors account and BSBDA-Small Account. (Rule Nos. 11, 12).
Can a senior citizen invest in both SCSS and Pmvvy?
Senior citizens with the age of 60 years or more can invest in PMVVY and SCSS schemes. The overall investment permissible is Rs 15 lakh in both schemes.
Which bank is best for SCSS?
List of banks that offer SCSS
- ICICI Bank.
- Vijaya Bank.
- Union Bank of India.
- UCO Bank.
- Syndicate Bank.
- Indian Bank.
- Punjab National Bank.
- IDBI Bank.
How many accounts can be opened by a senior citizen in a branch in the same month?
Therefore, an account holder may 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, i.e. Rs. 15 lakh. Also, more than one account shall not be opened in the same deposit branch during a calendar month.
How can I open a senior citizen account in SBI?
A Senior Citizens Savings Scheme Account with SBI can be opened at the bank branch or post office. You may visit any deposit office and make an application in Form A. Along with this, you must provide proof of age and deposit a minimum amount in multiples of thousand.
How can I open a senior citizen saving account in SBI?
Where can I open a senior citizen account?
You can open a Senior Citizens Savings Scheme account at all India Post Offices. You will need to fill the account opening form and submit it along with copies of KYC documents including proof of identity, proof of address and proof of age along with 2 recent passport size photograph.