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Senior Citizens Savings Scheme, 2004
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Features

Senior Citizens Savings Scheme - Features

1. Minimum Investment :
Rs. 1000 /- and in multiples thereof.
2. Maximum Investment : Rs. 15 Lacs.
3. Interest Rate :

9.3% p.a. Taxable. TDS is applicable.

4. Interest option :

Quarterly.

5. Interest Payment dates :

31st March, 30th June, 30th September, 31st December.

6. Tenure : 5 yrs.
7. Extension of Account :

A depositor can extend the account for a further period of 3 years ( request has to be submitted within one year from maturity ).

8. Premature closure of Account :

- Upto 1 year – Not allowed
- After expiry of 1 year– Up to 2 years - Charges   @1.5% of the Balance Deposit Amount will be   deducted.
- On or After expiry of 2 years – Up to 2 years -  Charges @1% of the Balance Deposit Amount  will be deducted.

9. Mode of Investment :

Cash / Cheque / Pay order / DD in the name of “ICICI BANK – A/C 9% S.C.S.S.”

10. Value date :

Date of realisation of the cheque / DD / Date of Cash deposit at the Bank.