The proportion of senior citizens in the country increased to 10.1% in 2021. Once an individual crosses the threshold of 60 years, many benefits become available to him/her.
The Indian government offers saving schemes to reduce senior citizens’ tax and financial burden. Several banks offer higher interest rates to senior citizens. They can also avail tax-free withdrawals from pension schemeslike the NPS.
Opting for a senior citizen card can help you enjoy several benefits. You can apply for the senior citizen card online or fill out a physical application. Find out more about how to apply for a senior citizen card.
Documents to Submit
Anyone applying for the senior citizen card should submit the following documents:
1. Proof of Identity
The acceptable documents are:
Voter ID Card
Central Government Health Scheme Card
Arms License with Photograph
Photo identity card issued by a State Government, the Central Government, or a Public Sector Undertaking
Ration card with Photograph
Pensioner Card having a photograph of the applicants
Bank certificate from the branch
Certificate of identity in original signed by MP or MLA or a Gazetted Officer containing a duly attested photograph
2. Proof of Residence
You can submit the following as an acceptable proof of where you reside:
Telephone bill in the name of the applicant
Registered Rental Agreement for over one year
Bank Account Passbook
House Allotment Letter
Certified Voter List
Registered Sale Deed
3. Proof of Age
Documents that support the age proof of the applicant are as follows:
- Birth certificate
- Pan Card
- School leaving certificate
4. Reasons to Apply for a Senior Citizen Card
The reasons to apply for a senior citizen card are the benefits that come with it. The benefits can be divided into four primary categories:
A senior citizen card enables an individual to pay lower taxes than other citizens. Banks offer a 0.5% higher interest rate on fixed deposits. Citizens over 65 get 100% exemption from state professional taxes.
The post office offers an interest of 9% on investment schemes. Banks offer priority services like door-to-door document verifications.
Government hospitals offer free treatment to people with senior citizen cards. Private hospitals provide discounted treatment.
People with senior citizen cards enjoy 40-50% concession on railway charges. They can also avoid the crowd by booking tickets from separate counters. Airlines also offer discounts up to 50% on domestic flight tickets in economy class.
4. Other Advantages
Some other advantages include faster response time and priority hearing dates at courts. The passport verification process is less complicated. The mandatory police verification for senior citizens is often done after granting the passport. People with senior citizen cards can also enjoy reduced phone charges from select connections.
A senior citizen card enables old people to save more. From higher interest rates to railway concessions, senior citizens can enjoy it all.Click here to know more about the retirement plans and apply for the senior citizen card now!