Maximum not exceeding the total retirement benefits.
Interest earned is completely tax free.
Only one account can be opened by Retired Public Sector Company employees in own name or jointly with the spouse. The account can be opened within three months from the date of receiving the retirement benefits. The Scheme will be operated through branches of SBI and its subsidiaries and selected branches of Nationalized Bank at dist. Entire balance or part thereof can be withdrawn after the expiry of three years from the date of deposit. Only one withdrawal in multiples of Rs.