Senior Citizen Saving Scheme - Features

Minimum Investment

Rs. 1000 and in multiples thereof

Maximum Investment

Rs. 15 Lakh

Interest Rate

Rate of interest is defined by Ministry of Finance from time to time.

Interest option


Interest Payment dates

31st March/ 1st April, 30th June/ 1st July, 30th September/ 1st October, 31st December/ 1st January


5 years

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)

Premature closure of Account

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

Mode of Investment

Cheque / Pay order / DD in the name of "ICICI BANK Senior Citizen Saving Scheme, 2004"

Value date

Date of realisation of the cheque / DD