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	Quarterly
Interest Payment dates	31st March/ 1st April, 30th June/ 1st July, 30th September/ 1st October, 31st December/ 1st January
Tenure	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