Step-by-step process to fill Senior Citizens Savings Scheme application form
07 Feb 2025

Applying for the Senior Citizens Saving Scheme (SCSS) doesn't have to be overwhelming.

By breaking down the process and understanding each step, senior citizens in India can invest with confidence and ease.

With a high interest rate and tax benefits, SCSS provides a secure option for those aged 60 years and above to grow their savings after retirement.

Understanding eligibility criteria
Step 1

Before you start the application process, let's see if you are eligible for SCSS or not.

Any Indian resident who is 60 years of age or older can open an SCSS account.

People who have taken voluntary retirement scheme (VRS) or superannuation are also eligible but they have to apply within one month of receipt of their retirement benefits.

For VRS, the age limit is 55 years.

Gathering required documents
Step 2

To apply for SCSS, you will need to provide a few documents including proof of identity (Aadhaar card, PAN card, etc.), proof of address (utility bills, passport, etc.), and proof of age (birth certificate, voter ID card, etc.).

And, for retirees choosing it under VRS, they need to provide a document that proves they have received the retirement benefits.

Choosing the right bank or post office
Step 3

SCSS accounts can be opened at any authorized bank (check the list of banks on RBI site) or post office throughout India.

Opt for a bank or post office where you already have an account to make the process easier.

Some banks provide extra facilities such as online account management - choose this if it suits your needs.

Filling out the application form
Step 4

After you have selected your bank or post office, get the SCSS application form from them directly or download it from their official website (if applicable).

Complete the form accurately with all necessary details such as your name, address, PAN number, nominee details, etc.

Double-check all information to prevent any delays in processing.

Making your investment
Step 5

After handing over your application form and required documents, you will have to deposit your investment into SCSS.

The minimum investment is ₹1,000 and the maximum limit is ₹15 lakh per person.

You can pay via cheque or demand draft at your selected bank or post office branch where you are opening the account.