Post Office Small Saving Calculators
SIP, RD, TD and Annuity Calculators
Post Office Senior Citizens Savings Scheme has been notified with effect from August 2, 2004. The Scheme offers a new avenue of investment and return for Senior Citizen. The investment under this scheme qualify for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
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Who has attained the age 55 years or more but less than 60 years and has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account within one month of receipt of retirement benefits and amount should not exceed the amount of retirement benefits.
No age limit for the retired personnel of Defence services provided they fulfill other specified conditions.
A depositor may open the account in his individual capacity or jointly with spouse.
More than one account can be opened provided the total amount deposit does not exceed the prescribed limit.
Eligible applicants can open account by submitting application on Form A.
Non-residents and HUFs are ineligible to open the account under the scheme.
The depositor may extend the account for a further period of 3 years by submitting application on Form B
A depositor may change nomination by submitting application on Form C.
| Period | Interest Rate |
| Upto 31.03.2012 | 9.00% p.a. |
| 01.04.2012 to 31.03.2013 | 9.30% p.a. |
| 01.04.2013 to 31.03.2014 | 9.20% p.a. |
| 01.04.2015 to 31.03.2016 | 9.30% p.a. |
| 01.04.2016 to 30.09.2016 | 8.60% p.a. |
| 01.10.2016 to 31.03.2017 | 8.50% p.a. |
| 01.04.2017 to 30.06.2017 | 8.40% p.a. |
| 01.07.2017 30.09.2018 | 8.30% p.a. |
| 01.10.2018 to 30.06.2019 | 8.70% p.a. |
| 01.07.2019 to 31.03.2020 | 8.60% p.a. |
| 01.04.2020 onwards | 7.40% p.a. |
Premature closure is allowed after one year on deduction of 1.5% interest & after 2 years on deduction of 1% interest.
Application for premature closure of the account may be submitted on Form E.
No deduction shall be made in case of premature closure of an account at any time due to death of a depositor. Application for premature closure by spouse (Joint Holder)/nominee(s)/legal heirs of the account may be submitted on Form F.
On opening of an account, the depositor shall be given a pass book immediately, alongwith the depositor\'s copy of the pay-in-slip (Form-D) duly stamped and signed by the deposit office.
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