Widely read:
A Senior Citizen Savings Scheme (SCSS) account has a tenure of five years and the deposited amount is paid back to the investor on maturity. While the depositor can open a new SCSS account after the maturity, however, the depositor has the option to extend the maturity by three years. For extending the maturity of the SCSS account, the depositor needs to submit the request in the prescribed form within one year from the date of maturity. The request form can be obtained from the post office or the bank where the SCSS account is held. The extended period of three years is counted from the or
This article was originally published on April 11, 2022.
