Eligibility

Resident citizens of India (Not for NRI / HUF)

Types of Accounts

Individual (self or on behalf of minor/unsound mind)

Minimum and Maximum Deposit

Minimum deposit: ₹500, and maximum deposit: ₹1,50,000 in a financial year, inclusive of the deposits made in one's own account and in the account opened on behalf of a minor.

Interest Rate

7.10%, effective from 01.01.2026 to 31.03.2026, Paid Annually

Tenure of Account

15 years (after maturity, can be extended for any number for a block of 5 years with or without further deposits)

Loan Facility

From 3rd financial year up to 6th financial year.

Partial Withdrawal Facility

1. Withdrawal is permissible every year from 7th financial year.

2. Account holders may withdraw up to 50% of the balance, based on the lower of: the balance at the end of the 4th year immediately preceding the year of withdrawal, or

The balance at the end of the preceding year.

3. Only one withdrawal is allowed in a financial year.

4. For extended accounts: Account holders may withdraw up to 60% of the balance available at the start of the extension period during the 5‑year extended block.

Tax Benefits

a)  Deposit qualifies for deduction under Sec.80-C of I.T.Act.

b)  Interest earned is free from Income Tax under Section -10 of I.T.Act.

Premature Closure

Allowed on three grounds such as medical, higher education and change in residency status.

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount payable to nominee/legal heir.

Other Features

Account can be retained indefinitely without further deposit after maturity with the prevailing rate of interest.

Eligibility

• Only resident citizens of India are allowed to open the account.
• An individual who has attained the age of 60 years or above can open an account.
• An individual who has attained the age of 55 years or more but less than 60 years and has retired under superannuation, VRS or special VRS, can open an account subject to the condition.

Retired personnel of defence services (excluding civilian defence employees) may open an account on attaining the age of 50 years subject to the fulfilment of other specified conditions.

Types of Accounts

• Individual (self)
• Joint Account with spouse only.

Minimum and Maximum Deposit

• Minimum deposit Rs. 1000/- & in the multiples of 1000 thereof Maximum deposit of Rs. 30 lacs.

Interest Rate

8.20%, effective from 01.01.2026 to 31.03.2026, Paid Quarterly

Tenure of Account

5 Years.

After maturity, account can be extended for any number of a block of 3 years.

Tax Benefits

Deposit in SCSS qualifies for Income tax rebate under sec. 80C of IT Act.

TDS

Applicable as per Income Tax Act

Premature Closure

Premature closure is permissible subject to deduction of penalty.

• Before 1 year: All interest paid is recovered.
• After 1 year but before 2 years: 1.5% deduction on deposit.
• After 2 years: 1% deduction on deposit.
• Extended accounts: Can be closed after 1 year of extension with no deduction. Before 1 year 1% deduction on deposit.

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount is payable to the spouse, nominee, or legal heir. Continuation of the account is also permitted if the spouse is a joint holder or nominee, subject to fulfilment of the eligibility criteria under this Scheme

Eligibility

• Only resident citizens of India are allowed to open the account.
• The account may be opened by one of the guardians in the name of a girl child, who has not attained the age of ten years as on the date of opening of the account.

Minimum and Maximum Deposit

a) Minimum deposit Rs. 250/- &

b) Maximum deposit Rs. 1,50,000/- in a FY.

Interest Rate

8.20%, effective from 01.01.2026 to 31.03.2026, Paid Annually

Tenure of Account

21 Years

Partial Withdrawal Facility

Withdrawal shall be allowed for the purpose of higher education of the Account holder to meet education expenses.

Tax Benefits

a) Deposit qualifies for deduction under Sec.80-C of I.T.Act.

b) Interest earned is free from Income Tax under Section -10 of I.T. Act.

Premature Closure

The account can be prematurely closed in case of marriage of girl child after her attaining the age of 18 years.

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount payable to guardian/nominee/legal heir.

Conditions to be Followed for Opening

An account under this Scheme may be opened for a maximum of two girl children in one family:

Provided that more than two accounts may be opened in a family if such children are born in the first or in the second order of birth or in both, on submission of an affidavit by the guardian supported with birth certificates of the twins/triplets regarding the birth of such multiple girl children in the first two orders of birth in a family:

Provided further that the above provision shall not apply to girl child of the second order of birth, if the first order of birth in the family results in two or more surviving girl children.

Eligibility

Resident citizens of India.

Types of Accounts

- Single Holder Account
- Joint 'A' Type (up to 3 adults, jointly payable)
- Joint 'B' Type (up to 3 adults, payable to any holder or survivor)

Deposit Amount

Minimum ₹1,000 (multiples of ₹100); No maximum limit; Multiple accounts allowed

Interest Rate

7.70% per annum, effective from 01.01.2026 to 31.03.2026, fixed for 5 years, compounded annually and reinvested.

Maturity Period

5 years; Interest accrued annually and paid at maturity

Tax Benefit

Eligible for deduction under Section 80C of Income Tax Act (up to ₹1.5 lakh)

Premature Closure

Not allowed except in cases of:
- Death of account holder(s)
- Forfeiture by pledgee (Gazetted Officer)
- Court order

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount payable to nominee/legal heir; continuation option also available.

Pledging

Account can be pledged or transferred as security

Payment on Death

Payable to nominee(s) or legal heir(s). Surviving nominees/legal heirs may continue account.

Eligibility

Resident citizens of India

Types of Accounts

- Single Holder (adult/self, guardian for minor/unsound mind)
- Minor (10 years & above)
- Joint A (up to 3 adults, payable jointly or survivor)
- Joint B (up to 3 adults, payable to any holder or survivor)

Deposits

Minimum ₹1,000; multiples of ₹100; no maximum limit

Interest Rate

7.50%, effective from 01.01.2026 to 31.03.2026.

Maturity

9 years 7 months (115 months); deposit doubles on maturity

Nomination

Mandatory; up to 4 nominees allowed

Premature Closure

Lock-in period: 2 years 6 months.

Allowed within lock-in period only on:
- Death of holder(s)
- Court order
- Forfeiture by pledgee (Gazetted Officer)
Simple interest at Post Office Savings rate will be paid on such closure.

Pledging

Account can be pledged/transferred as security to banks, govt. bodies, corporations, etc.

Payment on Death

Payable to nominee(s) or legal heir(s). Surviving nominees/legal heirs may continue account.

Eligibility

Resident citizens of India

Types of Accounts

• Individual (self or on behalf of minor/unsound mind)
• Minor (10 years and above)
• Joint 'A' Type (up to 3 adults, payable jointly or to survivor)
• Joint 'B' Type (up to 3 adults, payable to any holder or survivor)

Categories of Accounts

1-Year, 2-Year, 3-Year, 5-Year

Deposit Amount

Minimum ₹1,000 (multiples of ₹100); No maximum limit; Multiple accounts allowed

Tax Benefit

Deposit in 5-Year Time Deposit qualifies for deduction under Section 80C

Interest Rate

- 1-Year: 6.90% p.a.
- 2-Year: 7.00% p.a.
- 3-Year: 7.10% p.a.
- 5-Year: 7.50% p.a.

effective from 01.01.2026 to 31.03.2026.

Interest Payment

Compounded quarterly; payable annually; credited to savings account of the customer.

Maturity Period

1, 2, 3, or 5 years depending on account category

Extension of Account

Allowed twice.

Premature Closure

Allowed after 6 months with reduced interest/penalty.

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount payable to nominee/legal heir.

TDS

Applicable as per Income Tax Act

Pledging

Account can be pledged or transferred as security

Eligibility

Resident citizens of India

Types of Accounts

• Individual (self or on behalf of minor/unsound mind)
• Minor (10 years and above)
• Joint 'A' Type (up to 3 adults, payable jointly or to survivor)
• Joint 'B' Type (up to 3 adults, payable to any holder or survivor)

Deposit Amount

Minimum: ₹1,000 (multiples of ₹1,000)

Maximum: ₹9 lakh (single), ₹15 lakh (joint)

Interest Rate

7.40% p.a., effective from 01.01.2026 to 31.03.2026, (fixed for tenure)

Interest payable monthly

TDS

Applicable as per Income Tax Act

Maturity Period

5 years from date of opening

Premature Closure

Allowed after 1 year with penalty:

- 2% deduction on deposit amount if closed before 3 years

- 1% deduction on deposit amount if closed after 3 years

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount payable to nominee/legal heir.

Eligibility

Resident citizens of India

Types of Accounts

• Individual (self or on behalf of minor/unsound mind)
• Minor (10 years and above)
• Joint 'A' Type (up to 3 adults, payable jointly or to survivor)
• Joint 'B' Type (up to 3 adults, payable to any holder or survivor)

Deposit Amount

Min ₹100/month; multiples of ₹10; no max limit; multiple accounts allowed

Tenure

5 years (60 monthly deposits)

Interest Rate

6.70% p.a., effective from 01.01.2026 to 31.03.2026, (fixed for tenure)

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount payable to nominee/legal heir.

Premature Closure

Account can be closed prematurely after three years with simple interest at the rate of Post Office Savings Account.

Loan Facility

Up to 50% of balance after 1 year

Continuation After Maturity

Can continue with or without deposits for another 5 years.

Eligibility

Resident citizens of India

Types of Accounts

Woman for herself or by the guardian on behalf of a minor girl.

Deposit Amount

Minimum Rs. 1000/- (any sum in multiples of Rs. 100/-)
Maximum Rs. 200000/-
An individual may open any number of accounts subject to the maximum limit for deposit and a time gap of three months between the existing account and the opening of other account.

Rate of Interest

7.5% p.a.

Tenor

2 Years

Withdrawal Permitted

Maximum of 40% of the eligible balance once after the expiry of one year from the date of opening of the account but before the maturity of the account.

Premature Closure

• On the death of the account holder.
• In cases of extreme compassionate grounds such as medical support in life-threatening diseases of the Account holder or death of the guardian, that the operation or continuation of the Account is causing undue hardship to the Account holder.

For any reason other than above, any time after the completion of six months from the date of opening of an Account and in this case the balance stood from time to time in the account shall be eligible only for the interest rate less by two per cent points than the rate specified for this Scheme.

Nomination

Mandatory; up to 4 nominees allowed

Payment on Death

Amount payable to nominee/legal heir.