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    Question

    What is the maximum amount in Senior Citizen Savings

    Scheme Account?
    A INR 10 Lakh Correct Answer Incorrect Answer
    B INR 25 Lakh Correct Answer Incorrect Answer
    C INR 10 Lakh Correct Answer Incorrect Answer
    D INR 5 Lakh Correct Answer Incorrect Answer
    E INR 15 Lakh Correct Answer Incorrect Answer

    Solution

    • An individual of the Age of 60 years or more may open the Senior Citizen Savings Scheme account.There can be only one deposit in the account in the multiples of INR.1000/-, not exceeding INR 15 lakh.
    • Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh​ and above by C​heque only.
    • Premature closure is allowed after one year on deduction of an amount equal to1.5% of the deposit & after 2 years 1% of the deposit.

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