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Post Office Senior Citizen Saving Scheme Interest Rate.
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1. Interest Rate 8.3 % per annum.
2. Deposits can be made in multiples of 1000 not exceeding 1,000 Rs.
3. Individual above the age of 60 can open the account.
4. People who have taken VRS , and having attained the age of 55 or more can also open
the account provided , deposit is made within one month of the receipt of VRS Amount
and amount is not greater the Amount received after retirement.
5. Maturity time is 5 years.
6. Depositor can operate more than one account in individual capacity or with Wife/Husband.
7. Joint Account can be opened with Spouse only and first depositor in the joint account is the
investor.
8. Closure of the account can be done after 1 year by deduction of 1.5 % and after two years with
deduction of 1 %.
9. After maturity account can be extended for 3 years , within 1 year after giving the application
for maturity.
10. TDS is applicable , if interest Amount greater than 10,000 Rs.
11. Investment qualify for 80 C benefit.
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| Time Duration | Interest Rate |
| 01/04/2015 - 31/03/2016 | 9.3 % |
| 01/04/2016 - 30-06-2016 | 8.6 % |
| 01/10/2016 - 31/03/2017 | 8.5 % |
| 01/04/2017 - 30/6/2017 | 8.4 % |
| 01/07/2017 - 30/9/2017 | 8.3 % |
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