Apart from SBI and post offices, ICICI bank is the only private bank designated to provide the senior citizen savings scheme. Most of the features of the SCSS account ICICI bank are similar to the other places where the SCSS account can be opened. The minimum investment in the ICICI bank SCSS account is Rupees 1000 and the maximum amount limit is Rupees 15 Lacs. Apart from the regular features, to lure senior citizens in opening a SCSS account ICICI bank boasts of a huge network across the country. There are more unique features of a SCSS account ICICI bank:

• An ICICI bank SCSS account also provides the facility of directly crediting the interest to an ICICI account. If not required, 4 post dated cheques can be sent to the investor every year.
• The statement of an ICICI bank SCSS account comes with all details of balance and transactions
• And last but not the least, for the holders of SCSS account ICICI bank provides the phone banking facility for all type of banking related queries.

The rate of interest for an ICICI bank SCSS account is 9% which is higher than other usual savings accounts. Being the high interest senior citizens savings scheme is probably the better classification of this scheme and the USP. The high interest senior citizens savings scheme provides better returns to the senior citizens of the country at the age where they are much needed. Also, this high interest senior citizens savings scheme is also a trustable option for the senior citizens because it is regulated by the government of India. So an ICICI bank SCSS account will have all the benefits which the government of India has already mandated and plus, there is the definite ICICI advantage as mentioned above.

Opening a SCSS account ICICI bank is very easy. The SCSS application form is available at any ICICI branch where the account has to be opened. This SCSS application form has to be submitted along with few documents like age proof, PAN Card etc. To make the process even further quick and easy, the SCSS application form is also available online over the internet. In fact, unlike many other schemes, filling a SCSS application form is more or less a formality because filling the SCSS application form is incredibly simple.

Our recommendation at Money Super Bazaar is that the high interest senior citizens savings scheme is definitely a good investment option for senior citizens because it is safe and has assured returns. Even if this high interest senior citizens savings scheme is combined with other appropriate investment options carefully, further better and higher returns can be accrued. Just navigate through our website and gather information about more such options.