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Terms and Conditions governing applying for SCSS accounts online

ICICI Bank Limited (ICICI Bank), has been authorised/ permitted by the Ministry of Finance to provide/ offer certain services with respect to Senior Citizen Savings Scheme (SCSS) Account/s through ICICI Bank Internet Banking services.

These Terms and Conditions (Terms) apply to and regulate provision of services pertaining to SCSS Account/s through ICICI Bank Internet Banking services. These Terms are in addition to and not in derogation with the Terms and Conditions/ rules/ regulations/ notifications/ directives etc. governing SCSS Account/s and issued by appropriate/ competent authorities under Senior Citizen Savings Scheme 2019/ other applicable laws as available on and terms and conditions applicable to ICICI Bank Internet Banking services (collectively referred to as ‘Primary Terms’). All capitalised terms used herein but not defined shall have the same meaning as specified under the Primary Terms.

1. Definitions

1.1. ‘Customer/s’ shall mean an existing customer of ICICI Bank holding Savings Account and having valid access to ICICI Bank Internet Banking services.

1.2. ‘Internet Banking services of ICICI Bank’ shall refer to the services offered by ICICI Bank to the Customer, including services such as inquiry about balance in the Account(s), details about transactions in the Account(s), statement of account, transfer of funds, bill payment and any other service as ICICI Bank may decide to provide from time to time. The availability/ non-availability of a particular service shall be communicated to the Customer through e-mail, on the web page of ICICI Bank or in writing as may be deemed fit by ICICI Bank. Such Internet Banking services may be provided by ICICI Bank directly or through its associates or contracted service providers.

1.3. ‘Services’ shall mean services provided by ICICI Bank in relation to SCSS Account/s through the Website.

1.4. ‘Website’ refers to the website owned, established and maintained by ICICI Bank at the URL and used for providing various products and services, including Internet Banking services.

2. Applying for SCSS Account/s through the website

2.1 SCSS Account opening and the operations thereof shall be governed by Primary Terms, these Terms, applicable laws and internal policies of ICICI Bank and may be revised from time to time.

2.2 In order to apply for a SCSS Account through the website, the customer will be required to fill in the details through the logged-in section of the website.

2.3 The customer is permitted, under these Terms, to apply for a SCSS Account and avail further related services provided the customer is eligible for the SCSS Account opening as per the scheme rules and amendments. The customer shall be required to be an Indian Resident and should have attained the age of 60 or above. In case the customer with age less than 60 years and eligible for SCSS Account opening, wishes to open an Account shall be required to visit a designated ICICI Bank Branch and request the desired services.

3. Other Terms and Services provided through the website in relation to SCSS Account/s

3.1 The customer hereby undertakes to comply with all the specified conditions under the Primary Terms and those Terms which govern the applying and operation of SCSS Account/s.

3.2 All other terms not specifically mentioned herein shall be governed solely by the Primary Terms. By applying for a SCSS Account through the website and availing services thereof, the customer hereby acknowledges that he/she has read, understood and accepted these Terms, Primary Terms and undertakes to continue to be governed and abide by such Terms/ Primary Terms.

Terms and Conditions tile


  1. I hereby undertake to abide by the scheme provisions and Government Savings Promotion Rules, 2018 applicable to the Scheme and amendments issued thereto from time to time. Details of my/ our other accounts under the Scheme are as mentioned in the online Account opening request

  2. I declare that I/ we are resident citizen of India and undertake to inform the Account office of any change in our residency/ citizenship status in future

  3. I/ We shall adhere to the ceiling on deposits (currently Rs 30,00,000/- per PAN Card and as amended from time to time), taking the deposits in all the Accounts opened by me/ us together. If at any time, any excess deposit is found within or outside the Bank, such excess deposit shall be refunded to me/ us after recovery of excess interest

  4. The deposits in the Account shall be restricted to the retirement benefits received, or thirty lakh rupees, whichever is lower received invested three months from the date of funds received

  5. I/We declare that nomination under the said scheme can be done only in favour of Resident Indians or NRI only.

I hereby authorise ICICI Bank Limited to share all the information/ data provided herein including personal, business information and/ or investment related information with ICICI group companies/ other institutions/ such other persons as may be necessary/ required to communicate with you regarding my investment and processing of my application.

I also declare that the information provided by me/ us in the application herein above, is true to the best of my/ our knowledge and belief and in case, at any time, any of the information and/ or declaration is found false, no interest on the deposits shall be payable to me/ us, the deposits office shall close the Account(s) and refund the deposits after recovery of the interest, if any already paid on the deposits.