Senior Citizen often look for saving their hard earned money with three requirements Totally safe – Government backed Tax benefit – for investment amount
Good returns – 7.4%
This scheme has all the benefits that comes with a 5 year duration that can be extended further 3 years.
Eligibility • An individual may open an account in individual capacity, or jointly with spouse.
• NRI's & Hindu Undivided Family are not eligible to open an account under these rules. • An individual who has attained the age of 60 years and above. • who has attained the age of 55 years or more but less than 60 years and who has retired on superannuation or but within the month of receiving retirement benefits •
The retired personnel of Defence Services attaining the age of fifty years.
For further details watch this video
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