Nowadays everyone wants to invest their hard earned money in a place where the money is safe and also grows a little. Especially our elders think that their lifelong savings should be invested in the right place, where they can earn good interest without any tension.
So there is good news for you! The government has started a very good scheme for senior citizens – Senior Citizen Saving Scheme. And you know what? You can also open this account in Punjab National Bank (PNB)!
PNB SCSS Scheme 2025: Beneficial deal for senior citizens
PNB is a well-known government bank of the country. The government has run many schemes in it and one of them is Senior Citizen Saving Scheme. This scheme has been specially designed keeping in mind our senior citizens. So that they can invest their deposits and get interest comfortably every three months.
If you also want to keep your capital safe after retirement and earn extra income every three months, then PNB SCSS scheme is for you. Let’s get complete information about this scheme.
Interest rate in PNB SCSS scheme
If you are thinking of investing money in PNB’s Senior Citizen Savings Scheme, then let us tell you that you have to invest in it for 5 years. And the good thing is that if you want, you can also extend this period by 3 more years. The most special thing about this scheme is that you have to deposit money in it in one go. This scheme is especially for the senior citizens of the country.
Start investing from ₹ 1000, deposit up to ₹ 30 lakh
Any senior citizen can invest in PNB’s Senior Citizen Savings Scheme, just their age should be more than 60 years. And for those who are government employees, their age should be 50 to 55 years. In this SCSS scheme, you can start investing with a minimum of ₹ 1000 and can deposit a maximum of ₹ 30 lakh.
How to invest in SCSS scheme?
If you also want to invest in PNB Bank’s Senior Citizen Savings Scheme, then if your age is more than 60 years, then you can invest comfortably. For this, you just have to go to your nearest PNB branch and open your SCSS account there. In SCSS scheme, you can open an account alone and if you want, you can also open a joint account with your husband or wife.
How much return will you get on investing ₹ 12 lakh?
Suppose, if someone deposits ₹ 12 lakh in PNB Bank’s Senior Citizen Savings Scheme for 5 years at once, then the bank will give them 8.2% interest. This interest rate is decided by the government, and it keeps changing.
At this interest rate, you will get a total of ₹4,91,999.59 in 5 years just in interest! And if you take this interest every three months, you will get approximately ₹24,599.98 every three months. And when the scheme is completed, you will get a total return of ₹16,91,998.59. Isn’t it profitable?
