A government savings scheme for citizens aged 60+ (or 55+ for retired). Deposit once; interest is paid quarterly; matures in 5 years and can be extended by another 3.
Maturity (deposit + total interest)
₹ 0
Quarterly interest
₹ 0
Yearly interest
₹ 0
Total interest
₹ 0
Effective return
0%
Quick facts
Maximum deposit: ₹30 lakh (raised from ₹15 lakh in Budget 2023).
Interest paid: quarterly, on the first working day of April, July, October and January.
Tax: deposit eligible under Section 80C; interest is fully taxable.
Premature closure: allowed; charges depend on how soon you close.