Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Eligibility age60+; 55–59 retired under qualifying retirement schemes; 50+ retired defence personnelView source
The official eligibility section publishes the age bands.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Features — Eligibility
- Accessed
- 21 Aug 2026
- Confidence
- high
Interest rate8.2% p.a., paid quarterlyView source
The official page states the rate and payment frequency.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Features — Rate of interest
- Accessed
- 21 Aug 2026
- Confidence
- high
Deposit range₹1,000 minimum to ₹30 lakh maximumView source
The official page publishes the deposit limits.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Features — Minimum and maximum deposit limit
- Accessed
- 21 Aug 2026
- Confidence
- high
Tenure5 years, extendable by 3 yearsView source
The official page states the base and extension terms.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Features — Tenure
- Accessed
- 21 Aug 2026
- Confidence
- high
SCSS eligibility and limitsEligible depositors are resident citizens aged 60+, retired under superannuation/
The official overview and Features sections publish age, residency, account, deposit and exclusion rules.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Overview / Features
- Accessed
- 23 Aug 2026
- Confidence
- high
SCSS rate and tenureThe published interest rate is 8.2% p.a., payable quarterly and fully taxable. The deposit tenure is 5 years and may be extended in 3-year blocks; premature closure is permitted subject to scheme conditions and nomination is available.View source
The official Features section publishes the current rate, payment frequency, tax treatment, tenure and extension.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Benefits / Features
- Accessed
- 23 Aug 2026
- Confidence
- high
Senior-citizen rate8.2% p.a., the scheme rate applicable to eligible senior-citizen depositors; interest is paid quarterly.View source
The official page publishes 8.2% p.a. for this senior-only scheme.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Features — Rate of interest
- Accessed
- 29 Aug 2026
- Confidence
- high
Premature closurePremature closure is permitted under SCSS rules: before one year no interest is payable; after one year and before two years, 1.5% of the deposit is deducted; after two years, 1% is deducted.View source
The official terms publish the no-interest and 1.5%/1% premature-closure deductions by holding period.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Features — Premature withdrawal
- Accessed
- 29 Aug 2026
- Confidence
- high
Interest payoutInterest is paid quarterly into the nominated or linked account; the principal is repaid at maturity after five years, with a permitted three-year extension.View source
The official page states quarterly interest, five-year maturity and three-year extension.
- Source
- Senior Citizen Savings Scheme
- Page / section
- Benefits / Features
- Accessed
- 29 Aug 2026
- Confidence
- high
Benefits and features
- ₹1,000 minimum to ₹30 lakh maximum
Eligibility
- 55–59 retired under qualifying retirement schemes
- 50+ retired defence personnel
Passing a listed condition does not mean the bank will approve an application.
Related official documents
Bank of Baroda government schemes and deposit product pagesofficial-product-pages · current · accessed 29 Aug 2026
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