• Investment made eligible for tax rebate under 80C upto Rs 1.5 lakhs.
• Higher Rate of Interest for Senior Citizens.
• Account Extension facility available.
• Quarterly interest payable.

• Minimum deposit is Rs 1000/- & Maximum deposit is Rs 30,00,000/- in a Financial Year.
• Multiple accounts may be opened within the maximum deposit limit. (Rs. 30,00,000/-).
• The duration of the account is 5 years and Can be extended for a further period of 3 Years (within 1yr from date of maturity).
• TDS Exempted on submission of Form 15G/H by the SCSS account holders as per scheme guidelines.
• Nomination facility is allowed for one or more individuals but not exceeding four individuals.
• Account can be opened both online mode (through net banking/mobile banking (ai1)) and offline mode (in bank branches).
• Transfer of Account facility available as per scheme guidelines.
• Premature Closure available as per scheme guidelines.

• Who has attained the age of 60 years and above.
• Who has attained the age of 55 years or more but less than 60 years (As per scheme guidelines)
• The retired personnel of Defence Services attaining the age of 50 years.
• Exemption -NRI's & Hindu Undivided Family.

• 8.20 % per annum w.e.f 01.04.2023 till further revision, interest payable quarterly (on first working day of subsequent month) (TDS deduction at source as per scheme guidelines).

• Application form.
• Photograph of depositor/s (2 copies).
• Proof of identity and address as per KYC Norms- Only the following documents will be acceptable (for individuals):
  • Passport.
  • Driving License.
  • PAN Card.
  • Voter Identity Card issued by the Election Commission of India.
  • Job card issued by NREGA duly signed by an officer of State Government.
  • Letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number.

• NRI’s & HUFs are not eligible.
• Maximum Deposit Amount shall not exceed Rs 30,00,000/- in a financial year.
• There shall be only one time deposit in account.
• TDS applicable on interest earned.
• Extension of account is permitted only once for a period of 3 years.
• Premature closure is allowed only after one year of opening the account. However, a 1.5% charge and a 1% charge of the total amount deposited will be charged in case of premature withdrawals after one year and two years, respectively.

You can apply through following modes :

• Online Mode :
  • Internet Banking
  • Mobile Banking App
• Offline Mode :
  • Visit nearest branch of Canara Bank
  • To redirect on the login page, please Click Here