Senior Citizen Savings Scheme (SCSS) – Key Features

Investment Details:

• Minimum Investment: ₹1,000 (and in multiples of ₹1,000 thereafter) 

• Maximum Investment: ₹30 lakh 
   

Interest Information:

• Interest Rate: As notified by the Ministry of Finance from time to time 

• Interest Payout: Quarterly 

• Interest Payment Dates: 1st working day of April, July, October, and January 
   

Account Tenure & Extension:

• Tenure: 5 years 

• Extension Option: Extendable by 3 more years 

• Condition: Submit extension request within one year from the date of maturity 
   

Premature Closure Rules:

• Within 1 year: Entire amount is refunded after deducting interest paid 

• After 1 year but before 2 years: 1.5% of the deposit amount is deducted 

• After 2 years: 1% of the deposit amount is deducted 
   

Mode of Investment:

• By Cheque, Pay Order, or Demand Draft (DD) 

• In favour of: 
  "ICICI BANK Senior Citizen Savings Scheme, 2019" 
   

Value Date:

• Considered as the date of realisation of the Cheque or DD