Is there a period prescribed for opening deposit account under the SCSS scheme, by the senior citizen, from the retirement benefits?
Reply : If the investor is 60 years and above, there is no time period prescribed for opening the SCSS account(s). However for those below 60 years, the time period prescribed are : (a) the persons who have attained the age of 55 years or more but less than 60 years and who retired under a voluntary retirement scheme or a special voluntary retirement scheme on the date of opening of an account under these rules, subject to the condition that the account is opened by such individual within three months of the date of retirement.
Related Questions
- If I apply for opening a fixed deposit by providing a cheque during the promotion period but the FD account gets opened only after the promotion period. Will I still be eligible for the offer?
- What is the minimum amount of deposit and period for opening the account?
- What is the standard initial deposit for opening an account?
