Small Savings Schemes
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)

- 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)

- 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)

- For Senior citizens of India aged 60 years or above. Rate of Interest 7.60% 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
Form 2 - Application for Loan Withdrawal
Form 3 - Application for Closure
Form 4 - Application for Extension
Form 5 - Application for Premature Closure
Form 6 - Application for Nomination
PPF Transfer Application
PPF Form B - Challan for Deposit of Money
PPF Form F - Application for Cancellation/Variation of Nomination
PPF Form G - Application for Withdrawal by Nominees/Legal Heirs
Sukanya Samriddhi Account (SSA)
Form 1 - Ac Opening Form
Form 2 - Premature Closure of SSA
Form 3 - Withdrawal
Senior Citizens Savings Scheme (SCSS)