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  #1  
Old 16th July 2009, 01:16 PM
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Default Senior Citizens Savings Scheme, 2004



How many of you are aware of this "Senior Citizens Savings Scheme, 2004 "

Currently it is offering 9% to senior citizens.

With backing of the government, it is one of the better options for a regular income....provided you are a senior citizen.

banks generally don't tell customers about this scheme as it competes directly with their fixed deposits.

http://www.icicibank.com/pfsuser/ici...sshomepage.htm
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Old 17th July 2009, 12:11 PM
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What's the definition of Senior Citizen for this scheme 60+ or 65+ ?
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Old 17th July 2009, 12:19 PM
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Quote:
Originally Posted by Atiker View Post
What's the definition of Senior Citizen for this scheme 60+ or 65+ ?
60 years.

Check this out:

http://www.icicibank.com/pfsuser/ici.../scss_elig.htm
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Old 31st August 2010, 07:50 PM
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Default

Quote:
Originally Posted by Alchemist View Post
banks generally don't tell customers about this scheme as it competes directly with their fixed deposits.
Bank manager show total ignorance for this scheme.

In syndicate bank when I told them the name of the scheme as "Senior Citizens Savings Scheme, 2004".

The bank manager first responded that there is no such scheme and on pestering said if there was any it would be only for the year 2004, as the name suggests. And gave me a get-out-of-here look.
I dread the behavior of these government banks officials before the arrival of private banks.

Ignorance level was the same in ICICI Bank. I had to show them the web page on their site mentioning the existence of such a scheme, the response was - we will get back to you in 1 hour, it's 10 days I am still waiting for their call.
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Old 31st August 2010, 10:55 PM
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Default

The best place to open a SCSS is the local post office. Get the interest credited to your bank account.

I found this FAQ very useful regarding SCSS. Please note

Quote:
At present there are 24 Nationalised banks and one private sector bank which are handling the SCSS, 2004. The list is given below :

1. State Bank of India

2. State Bank of Hyderabad

3. State Bank of Indore

4. State Bank of Bikaner and Jaipur

5. State Bank of Patiala

6. State Bank of Saurashtra

7. State Bank of Mysore

8. State Bank of Travancore

9. Allahabad Bank

10. Bank of Baroda

11. Bank of India

12. Bank of Maharashtra

13. Canara Bank

14. Central Bank of India

15. Corporation Bank

16. Dena Bank

17. Indian Bank

18. Indian Overseas Bank

19. Punjab National Bank

20. Syndicate Bank

21. UCO Bank

22. Union Bank of India

23. United Bank of India

24. Vijaya Bank

25. ICICI Bank Ltd.

It may be noted that only designated branches of these banks have been authorized to handle SCSS, 2004.
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