Planning for retirement is an important step toward financial security and for many retirees in India, the Senior Citizens Savings Scheme 2026 is a safe and dependable option. This scheme is designed for senior citizens who are looking for a regular and secure income after retirement. This scheme is Government backed that offers guaranteed returns at higher interest rate as compared to the regular savings accounts or FD in banks.
Senior Citizens Savings Scheme 2026
With the increasing life expectancy and rising healthcare costs, senior citizens often look for investment options that are stable, safe and offer regular income. The Senior Citizens Savings Scheme 2026 fulfills all these needs by offering a fixed payout every quarter. SCSS Provides senior citizens with an opportunity to invest their retirement corpus safely while earning quarterly interest income. This scheme has a maturity period of 5 years and this can be extendable once for additional 3 years. The minimum investment required to open an account under SCSS is Rs. 1,000 and the maximum investment is Rs. 30 Lakh.
Post Office SCSS Scheme 2026 – Quick Facts
| Post Title | Senior Citizens Savings Scheme 2026 |
| Year | 2026 |
| Country Name | India |
| Scheme Name | Senior Citizens Savings Scheme |
| Available At | India Post Offices – PAN India |
| Who Can Invest? | Indian Citizens aged 60 or above |
| Interest Rate | To be Notified |
| Expected Interest Rate | 8.2% per annum |
| Interest Payout | Quarterly |
| Tenure | 5 Years |
| Extension of Account | For Additional 3 Years |
| Minimum Investment | Rs. 1,000 |
| Maximum Investment | Rs. 30,00,000 |
| Risk Level | Very Low |
| Premature Withdrawal | Allowed after 1 year |
| Category of the Post | Finance |
| Official Web Portal | www.indiapost.gov.in |
PO SCSS Interest Rate 2026
The interest rate for the Senior citizen saving scheme has not been yet fixed for 2026. Soon the SCSS Interest Rate 2026 would be announced on indiapost.gov.in. As of now, it’s expected that the interest rate would be 8.2% per annum. The interest is calculated quarterly and credited directly to the investors linked savings account.
How To Apply For PO Senior Citizens Savings Scheme 2026?
Before applying, the investor needs to be qualified for this scheme. It means the investor should be an Indian citizen with age 60 years or older. The retired Government employees, defence personnels and Voluntary retirement scheme retirees can be aged 55 years but for them the proof of retirement is needed. Let’s check how to apply:
Via Post Office:
- Visit the nearby Post Office and ask PO representatives to open a savings account. Because to make an application for the SCSS, the investor needs to have a savings account with India Post.
- Fill the SCSS Application form.
- Fill that form including personal details, amount of investment, nominee information, post office savings account number.
- Attach the required documents such as PAN, Aadhaar card, Age proof, address proof, retirement proof if under VRS and passport size photographs.
- Deposit the investment amount and this can be via cheque, demand draft from savings account.
- After verification, the passbook will be given on an SCSS account and this passbook will contain deposit and interest information.
The interest will be provided each quarter in the savings account only.
Via Authorised Banks:
Also, investors can apply via banks:
- Visit the bank branch and the bank should be authorised and such banks are SBI, HDFC, ICICI, PNB and more.
- Fill out the SCSS form.
- Submit KYC documents like PAN, Aadhaar, Photographs, Age proof, Retirement proof.
- Pay the deposit amount via Cheque, cash or online transfer.
- The bank will open the SCSS account and then they will provide a passbook or a receipt.
The interest will be credited to the bank savings account each quarter. Banks also provide an option to open an SCSS account via their net banking. It means without visiting the bank also, seniors or retirees can open this SCSS and earn interest each quarter.
FAQs Related To Senior Citizens Savings Scheme 2026
Indian citizens aged 60 or older can open a PO SCSS Account in 2026. The retired Government employees, defence personnels and Voluntary retirement scheme retirees can open this account at the age of 55 years but for them the proof of retirement is needed.
Yes, Maximally a person can deposit Rs. 30 Lakh under the Post Office SCSS 2026.
Check out indiapost.gov.in for current interest rates for the Senior Citizen Savings Scheme.
Interest is credited quarterly on 1st of April, July, Oct, and Jan under the Post Office SCSS Scheme 2026.