![]() Depositors may appoint a nominee or nominees under this scheme.The account holder may withdraw the deposit and close the account at any time subject to the certain conditions.The tenure of the deposit is 5 years and can be further extended by 3 years.The account shall be opened with a minimum deposit of Rs.The interest is payable on a quarterly basis and is fully taxable. Account holders can earn interest at the rate of 8.2% ( to ) on their deposits. ![]() 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).
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