Welcome To Odisha Postal Circle

                                SENIOR CITIZENS SAVINGS SCHEME
  • Rate of Interest-9.20% per annum.
  • Interest payable at quarterly basis on 31st March/30th June/30th September/31st December.
  • Minimum Deposit-Rs 1,000/-, Maximum Deposit-Rs 15,00,000/-. 
  • Maturity Period-5 years.Deposit can be extended for further period of 3 years by making an application within a period of 1 year  after the maturity of account.
  • No withdrwal is permitted before the expiry of period of 5 years from the date of opening of an account.
  • Premature Closure is permitted after the lock up period of 1 year.

       (i)After 1 year before 2 years,with reduction of 1.5% from deposit 


        (ii)After 2 years,with reduction of 1% from deposit amount.

  • Interest is taxable under the provisions of the Income Tax Act.


  • Any individual  who has attained  the age of 60 years or above.
  • Any individual who has attained the age of 55 years or more  but less then 60 years  and who has retired under voluntary retirement scheme,within 3 months date of retirement.A certificate from the employer indicating the date of retirement,retirement scheme,retirement benefits,nature and period of employement should be submitted along with the application for opening the account.
  • Non resident Indians and Hindu Undivided Families are not eligible to open an account under this scheme.