Small Savings Schemes

Overview

The Government of India has authorised IDBI Bank to open Small Savings Schemes accounts through all its branches across India.

Public Provident Fund (PPF)

Public Provident Fund IDBI Bank

An account holder can deposit any amount between Rs. 500/- (minimum) and Rs. 1,50,000/-(maximum) in a Financial Year. Rate of Interest 7.10% per annum*.
Loan facility is available from the 3^rd Financial Year up to the 6^th Financial Year.
The Account matures on completion of 15 complete Financial Years from the end of the year in which the account was opened.
After maturity, the account can be extended for any number of block periods of 5 years each.
Income tax benefit under Section-80C & Section-10 (15).
Deposits can be made in PPF account using IDBI Net Banking & Go Mobile Plus Mobile application.

Sukanya Samriddhi Account (SSA)

Sukanya Samriddhi Account IDBI Bank

Minimum deposit Rs. 250/- and Maximum Rs. 1,50,000/- in a Financial Year.
Rate of Interest 8% per annum*
“One Girl One Account” up to two girl children or three in case of twin girls as 2^nd or 1^st birth itself results in three girl children.
Parents/legal guardians can open SSA on behalf of a girl child, aged below 10 years.
Maturity Tenure : 21 years from the date of opening of the account.
Income tax benefit under Section-80C & Section-10 (15).
Deposits can be made in SSA account using IDBI Net Banking.

Senior Citizens Savings Scheme (SCSS)

Senior Citizens Savings Scheme IDBI Bank

For Senior citizens of India aged 60 years or above. Rate of Interest 8.20% per annum#* or Retirees who have opted for the Voluntary Retirement Scheme (VRS) or Superannuation aged between 55-60. Here the investment has to be done within a month of receiving the retirement benefits or Retired defense personnel with a minimum age of 50 years.
Maximum Deposit of Rs. 30 Lakhs for individual and minimum deposit amount Rs. 1000/- and in multiples of Rs. 1000/-.
Quarterly Interest payout, Interest will paid on 1^st April/ 1^st July/ 1^st October/ 1^st January.
Tenor is for 5 years, account can be extended for additional 3 years within a period of one year after maturity.
Eligible for Tax Deduction under section 80C of the Income Tax Act, 1961 but TDS is applicable on Interest earned.
Link of TDS certificate for Senior Citizens Savings Scheme, please click here

Mahila Samman Savings Certificate, 2023 (MSSC)

Mahila Samman Savings Certificate IDBI Bank

Mahila Samman Savings Certificate, 2023 can be opened by Women and Girls of all age groups.
A Minor account can also be opened by the guardian.
Account Holder can deposit minimum of Rs 1000/- and any sum in multiples of Rs 100/-.
A maximum limit of Rs 2,00,000/- can be deposited in a single account or multiple accounts held by an account holder.
Multiple accounts under this Scheme can be opened. However, the 2nd account can be opened only after a time gap of three months from the date of opening of the 1st account and so on. The total deposit including all the accounts should not exceed Rs 2,00,000/-.
The deposits made under this Scheme shall bear interest at the rate of 7.5 % per annum.
Interest shall be compounded on quarterly basis and credited to the account.
The account holder shall be eligible to withdraw maximum up to 40% of the Eligible Balance once, after the expiry of one year from the date of opening of the account but before the maturity of the account.
Nomination facility is available.
Customers may visit nearby IDBI bank branch for account opening.

*Subject to quarterly change as per Government notification.

#Interest Rate is fixed for block of first 5 years.

For more information kindly visit National Saving Institute (NSI) website https://www.nsiindia.gov.in/Home.aspx
or Ministry of Finance website https://dea.gov.in/budgetdivision/small-savings

Forms

Public Provident Fund (PPF)

Form 1 - PPF Ac Opening

Form 2 - Application for Loan Withdrawal

Form 3 - Application for Closure

Form 4 - Application for Extension

Form 5 - Application for Premature Closure

Form 6 - Application for Nomination

PPF Transfer Application

PPF Form B - Challan for Deposit of Money

PPF Form F - Application for Cancellation/Variation of Nomination

PPF Form G - Application for Withdrawal by Nominees/Legal Heirs

Sukanya Samriddhi Account (SSA)

Form 1 - Ac Opening Form

Form 2 - Premature Closure of SSA

Form 3 - Withdrawal

Form 4 - Closure of SSA Ac

Form 5 - Application for Transfer

Senior Citizens Savings Scheme (SCSS)

Form 1 - Account Opening Form

Form 2 - Premature Closure of SCSS

Form 3 - Closure of SCSS

Form 4 - Extension of SCSS Account

SCSS Form C - Nomination/Change

SCSS Form D - Pay in Slip for Deposit

SCSS Form F - Closure by Joint Holder/Nominee

SCSS Form G - Transfer of Ac

Mahila Samman Savings Certificate, 2023 (MSSC)

Application for Mahila Samman Savings Certificate, 2023

Application for Premature Closure of Account

Application for withdrawal Mahila Samman Savings Certificate, 2023

Application for closure of Mahila Samman Savings Certificate, 2023