Small Savings Schemes

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Overview

The Government of India has authorised IDBI Bank to open Small Savings Schemes accounts through all its branches across India.

Public Provident Fund (PPF)


Public Provident Fund IDBI Bank
  • An account holder can deposit any amount between Rs. 500/- (minimum) and Rs. 1,50,000/-(maximum) in a Financial Year. Rate of Interest 7.10% per annum*.
  • Loan facility is available from the 3rd Financial Year up to the 6th Financial Year.
  • The Account matures on completion of 15 complete Financial Years from the end of the year in which the account was opened.
  • After maturity, the account can be extended for any number of block periods of 5 years each.
  • Income tax benefit under Section-80C & Section-10 (15).
  • Deposits can be made in PPF account using IDBI Net Banking & Go Mobile Plus Mobile application.

Sukanya Samriddhi Account (SSA)


Sukanya Samriddhi Account IDBI Bank
  • Minimum deposit Rs. 250/- and Maximum Rs. 1,50,000/- in a Financial Year.
  • Rate of Interest 7.60% per annum*
  • “One Girl One Account” up to two girl children or three in case of twin girls as 2nd or 1st birth itself results in three girl children.
  • Parents/legal guardians can open SSA on behalf of a girl child, aged below 10 years.
  • Maturity Tenure : 21 years from the date of opening of the account.
  • Income tax benefit under Section-80C & Section-10 (15).
  • Deposits can be made in SSA account using IDBI Net Banking.

Senior Citizens Savings Scheme (SCSS)


Senior Citizens Savings Scheme IDBI Bank
  • For Senior citizens of India aged 60 years or above. Rate of Interest 7.40% per annum#* or Retirees who have opted for the Voluntary Retirement Scheme (VRS) or Superannuation aged between 55-60. Here the investment has to be done within a month of receiving the retirement benefits or Retired defense personnel with a minimum age of 50 years.
  • Maximum Deposit of Rs. 15 Lakhs for individual and minimum deposit amount Rs. 1000/- and in multiples of Rs. 1000/-.
  • Quarterly Interest payout, Interest will paid on 1st April/ 1st July/ 1st October/ 1st January.
  • Tenor is for 5 years, account can be extended for additional 3 years within a period of one year after maturity.
  • Eligible for Tax Deduction under section 80C of the Income Tax Act, 1961 but TDS is applicable on Interest earned.
  • Link of TDS certificate for Senior Citizens Savings Scheme, please click here

*Subject to quarterly change as per Government notification.

#Interest Rate is fixed for block of first 5 years.

For more information kindly visit National Saving Institute (NSI) website https://www.nsiindia.gov.in/Home.aspx
or Ministry of Finance website https://dea.gov.in/budgetdivision/small-savings

Forms

Public Provident Fund (PPF)

Form 1 - PPF Ac Opening
Download
Form 2 - Application for Loan Withdrawal
Download
Form 3 - Application for Closure
Download
Form 4 - Application for Extension
Download
Form 5 - Application for Premature Closure
Download
Form 6 - Application for Nomination
Download
PPF Transfer Application
Download
PPF Form B - Challan for Deposit of Money
Download
PPF Form F - Application for Cancellation/Variation of Nomination
Download
PPF Form G - Application for Withdrawal by Nominees/Legal Heirs
Download

Sukanya Samriddhi Account (SSA)

Form 1 - Ac Opening Form
Download
Form 2 - Premature Closure of SSA
Download
Form 3 - Withdrawal
Download
Form 4 - Closure of SSA Ac
Download
Form 5 - Application for Transfer
Download

Senior Citizens Savings Scheme (SCSS)

Form 1 - Account Opening Form
Download
Form 2 - Premature Closure of SCSS
Download
Form 3 - Closure of SCSS
Download
Form 4 - Extension of SCSS Account
Download
SCSS Form C - Nomination/Change
Download
SCSS Form D - Pay in Slip for Deposit
Download
SCSS Form F - Closure by Joint Holder/Nominee
Download
SCSS Form G - Transfer of Ac
Download