A robust and safe scheme designed for seniors To earn long term savings.

Senior Citizen Savings Scheme

Bank of Baroda offers the Senior Citizens Saving Scheme(SCSS Scheme) account to individuals above the age of 60 years or 55 years for those who have retired on superannuation or under a voluntary or special voluntary scheme or 50 years for the retired personnel of defence services (excluding civil defence employees). Depositors are allowed to open multiple account under this scheme with combined maximum limit of Rs. 15 lakhs in all accounts. The SCSS account is a robust and safe account designed especially for seniors to earn long term savings in their old age.

  • Benefits
  • Features
  • Depositors receive interest every quarter
  • High rate of interest
  • Guaranteed returns
  • Nomination facility available

  • Senior citizens aged 60 years and above are eligible for this scheme. The scheme is also applicable to retired individuals above 55 years of age under voluntary or special voluntary scheme and 50 years for the retired personnel of defence services (excluding civil defence employees).

Rate of interest

  • Account holders can earn interest at the rate of 7.4% (01.10.2021 –to– 31.12.2021) on their deposits. The interest is payable on a quarterly basis and is fully taxable.

Minimum and maximum deposit limit

  • The account shall be opened with a minimum deposit of Rs. 1,000 or any sum in multiples of Rs. 1,000 not exceeding Rs. 15,00,000.


  • The tenure of the deposit is 5 years and can be further extended by 3 years.

Premature withdrawal

  • The account holder may withdraw the deposit and close the account at any time subject to the certain conditions.

Nomination facility

  • Depositors may appoint a nominee or nominees under this scheme.

Account renewal

  • The account can be extended for 3 years only once after the completion of 5 years’ term.
Request Callback

Please fill in these details, so we can call you back and assist you.

Select Government Deposit Schemes Type
  • e-Kisan Vikas Patra Scheme
  • Floating Rate Savings Bonds
  • Gold Monetization Scheme
  • Senior Citizen Savings Scheme
  • Sovereign Gold Bonds
  • Others

Thank you ! We have successfully received your details. Our executive will contact you soon.

संबंधित उत्पाद

Banking Mantra

  • 03 जुलाई 2019
    All you need to know about the Senior Citizen Savings Scheme

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.

The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.

Proceed to the website

Thank you for visiting www.bankofbaroda.in

We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, please click here. By continuing to browse this website, you consent to our use of cookies.