Frequently Asked Questions
1. In case of a joint SCSS account, if the first account holder dies, will the account continue? 
In this situation, the second account holder or else the nominee can continue holding the SCSS account. However, he/she should abide by the terms and conditions specified under SCSS rules.
2. What is the maximum age limit to open an SCSS account?
Any senior citizen above the age of 60 years is eligible to open a Senior Citizen Savings Scheme account.
3. Is there any cost for nominating a person in your SCSS account?
No fee amount has been prescribed under the SCSS rule of 2004 for nominating, changing the nomination or cancelling it.
4. It is possible for both spouses to open separate SCSS accounts?
Yes, both spouses are eligible to open individual accounts but maximum deposit should not exceed ₹15 lakh. However, this is only possible if both of them are individually eligible to invest under relevant provisions of rules that are governing this scheme.
5. What will be the share of joint account holder in the deposit for an SCSS account?
The entire amount which is invested in an account under SCSS is attributed to first depositor/applicant only. There is no question of any share of the joint account holder or applicant arising in this case.
6. What is the age limit of the spouse in case of a joint SCSS account?
In case of joint SCSS account, age of first account holder or applicant is what is considered for deciding the eligibility to invest in this scheme. The second account holder’s age is not put into consideration so there is no specific age limit set.
7. Can I nominate more than one person under Senior Citizen Savings Scheme?
Yes, you can nominate more than one person at the time of opening your Senior Citizen Savings scheme account or after it. In case of the untimely demise of the account holder, the nominees would be entitled to the payment due.
