How senior citizens can track, reinvest, and close SCSS accounts without visiting a post office

Senior citizens no longer need to stand in a long queue at post offices to manage their Senior Citizens Savings Scheme (SCSS) accounts. This is made possible due to the digital integration of Post Office Savings Schemes. SCSS, along with NSC and Kisan Vikas Patra (KVP), can now be invested in, monitored, and reinvested online via mobile apps and internet banking.

"Department of Posts, through internet banking, enables transactions under the scheme such as National Savings Certificate (NSC), Kisan Vikas Patra (KVP) and Senior Citizens Savings Scheme (SCSS). These initiatives have improved customer convenience and enhanced ease of operations," said Minister of State for Communications and Rural Development, Pemmasani Chandra Sekhar, in a written reply to a question in the Lok Sabha on February 11.

The move is part of the digitisation of over 1.64 lakh post offices, serving more than 45 crore postal savings account holders.

How senior citizens can manage SCSS online via DOP internet banking

Senior citizens can now invest, close, and extend SCSS accounts digitally through the Department of Posts internet banking portal.

• Login into your DOP internet banking account.

• Navigate to the General Services tab.

• Click on Service Requests.

• Select 'New Requests' and click 'Ok'

• Go to the closure / pre-closure of SCSS accounts.

• Select the SCSS account to be closed.

• Choose the linked Post Office Savings Account to credit the net amount.

• Submit online the net amount payable, including any penalty, will be displayed.

• Enter your transaction password.

• Click ‘Submit’.

Extension of SCSS account

• Click on extension of SCSS account.

• Select the SCSS account you want to extend.

• Tick the checkbox to agree to terms and conditions.

• Submit online, the new maturity date, rate of interest, and quarterly interest will be displayed.

• Enter remarks, if required.

• Enter your transaction password.

• Click Submit.

Benefits for senior citizens

• Once invested, you can monitor interest accruals, maturity dates, and past deposits directly.

• This shows real-time balance and total returns, so senior citizens always know how much they have earned without visiting a post office.

• Reinvest matured deposits without visiting the post office.

SCSS interest rates

The Department of Posts, through a network of over 1.64 lakh post offices, serves more than 45 crore account holders of the Post Office Savings Bank (POSB).

In addition to facilities given to POSB customers, India Post Payments Bank (IPPB) is offering its customers a range of services such as savings and current accounts, virtual debit cards, domestic money transfer services, bill and utility payments, insurance services for IPPB customers, online payment for post office savings schemes, digital life certificates (DLC), Aadhaar enabled Payment System (AePS), mobile number updates in Aadhaar for any citizen, and child enrolment services for any child of 0-5 years old.