Tenure of the scheme	Whether TDS is applicable
Rate of interest	Investment to be in multiples of
Frequency of computing interest	Maximum investment limit
Taxability	Minimum eligible age for investment
Premature withdrawal facility	retired personnel of Defence Services (excluding Civilian Defence
Transferability feature Tradability	Employees) shall be eligible to invest irrespective of the age limits subject to the fulfillment of other specified conditions
Nomination facility Modes of holding	Available after one year of holding but with penalty
Application forms available with	Not transferable to others
Applicability to NRI, PIO and HUFs	Not tradable
Transfer from one deposit office to another	Nomination facility is available
5 years which can be extended by 3 more years	Accounts can be held both in single and joint holding modes. Joint holding is allowed but only with spouse
9 per cent per annum	Post Offices and designated branches of 24 Nationalised banks and one private sector bank
QuarterlyInterest is fully taxable	Non resident Indians, Persons of Indian Origin and Hindu Undivided Family are not eligible to open an account under the scheme.
Yes, Tax will be deducted at sourceRs. 1000/-Rs. 15 lakh	Transfer of account from one deposit office to another in case of change of residence is permitted

At present there are 24 Nationalized Banks and one Private Sector Bank which are handling the SCSS, 2004. The list is given below:

State Bank of India , State Bank of Hyderabad , State Bank of Indore , State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Saurashtra, State Bank of Mysore, State Bank of Travancore, Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank, ICICI Bank Ltd.

(For update, refer to:http://www.rbi.org.in/scripts/FAQView.aspx?ld=62) Deposit Scheme with Differential rate on Term Deposit/Special term deposit of one year and above

• Eligibility: Senior Citizens of 60 or above
• Conditions for Availing:Minimum amount: Rs. 10,000 and thereafter in multiples of Rs. 1,000 Payment of interest: At the time of maturity or at quarterly interval or monthly interval (at discount rate), as specified by the depositor.

(This scheme is provided by Reserve Bank of India For update, refer to: http://www.rbi.org.in/n) Senior Citizens Deposit Scheme.

Under this scheme, the rates of interest offered on SBI Tax Savings Scheme (SBITSS) will be revised upwards from 7.50% p.a. to 8.00% p.a. with effect from 27th November

The details are as follows

Maturity Period	Interest Rates (% p.a)Revised w.e.f 22-01-2007
1 Year to less than 3 Years	8.75
3 Years to less than 5 Years	8.75
5 Years to less than 1 0 Years	8.75

(This scheme is provided by State Bank of India. For update refer to http://www.statebankofindia.com)(http://www.statebankofindia.com/viewsection.jsp?lang=0andid=0,16,384,594) Rupee Term Deposits for Senior Citizens. There is a change in the additional interest rate offered at present to Senior Citizens (public other than staff) on their Rupee Term Deposits.

Benefits

0.5% p.a. interest on deposits of six months and above, but less than one-year maturity. 0.75% p.a. interest on Deposits of 1 year and above maturity. The revised interest rates on Domestic Rupee Term Deposits will be applicable only for fresh deposits and all renewals also w.e.f. 18.06.2007. (This scheme is provided by Bank of India. For up date refer to: http://www.bankofindia.com/home/interestrateslinterestrate.asp

Shatebdi Deposit Scheme

6-8 years-7.5% p.a. (Fixed Rate), Above 8 years to 10 years – 8% p.a. (Fixed Rate), Minimum Deposit: Rs. 5.000/- Maximum : No Ceiling, Additional interest rate of 1% p.a will be applicable to Senior Citizens.(This scheme is also provided by Bank of India. For up date refer to http://www.bankofindia.com/home/whatsnew/shatabdi.asp) From Punjab and Maharashtra Cooperative Bank Ltd, on the occasion of celebrations of 60 years of Independence of India, special interest rate is offered to Senior Citizens who have completed 60 years of age on FDSM deposits, w.e.f. 18/08/2007, with either Monthly interest Scheme OR Quarterly interest Scheme only.

Period of Deposit	Rate of Interest for Senior Citizens
60 mths (FDSM with MIC/QIC facility on simple interest)	10.25 % p.a.

(For update refer to http://www.pmcbank.com/rateofint.asp)

List of Services Offered for Senior Citizens from Bank of Baroda.

Renewal of accounts of Senior CitizensOnce the age of the Senior Citizens is verified for accepting deposits under the scheme. Branch shall not seek proof of age for renewal of the deposit or while taking subsequent deposits from him/her.

Treatment of joint deposits

For accepting deposits of Senior Citizens jointly, with other persons below the age of sixty under the special scheme for Senior Citizens, the benefit of additional interest (above the normal rate of interest) shall be given only when the Senior Citizen’s name is the first name in the application.

Minimum Amount of deposits

There are no restrictions on the minimum amount.

Additional Interest

The branches of the Bank have been authorized to pay an additional interest of 1% on the fresh deposits of all maturities of Senior Citizens and renewal of existing deposits of Senior Citizens.

Bulk deposits

In the case of bulk deposits (Rs.15/- lacs and above), twin benefits of interest shall not be passed on to the depositor i.e. higher rate of interest for the bulk deposit / the additional rate of interest as Senior Citizen.

Interest rate on Loan against deposits of Senior Citizens

Interest rate on Loan against deposits of Senior Citizens shall be charged at 1.25% over deposit rate.

Savings Scheme of Government for Senior Citizens

• The Scheme is available to Senior Citizens Aged 60 years (50 years for those who have retired under a voluntary or special voluntary scheme).
• Rate of Interest on deposits is 9%, payable quarterly. However, interest is fully taxable.
• Deposit Account can be opened in a single name or jointly with spouse.
• Nomination facility available to depositors.
• Investment can be made in multiple of Rs.1000/- with a maximum investment limit of Rs. 15,00,0007-.
• Tenure of the deposit is 5 years which can be extended for further 3 years.
• Facility for premature withdrawal available after one year on payment of penalty.