What Is A Senior Citizen Card And What Are Its Benefits? (2024)

India offers various financial benefits to people aged 60 and older as part of its welfare measures for the vulnerable sections of society. The state governments issue the Senior Citizen Card as proof of the bearer’s identity or status, enabling them to access the benefits. It can be used for identity in addition to the PAN, Aadhaar, and voter ID cards containing address, date of birth, etc.

What Is A Senior Citizen Card?

A senior citizen card is issued to people aged 60 and older. The card makes it easy to enroll in government welfare schemes. The card replaces the need to show Aadhaar or other-government-issued cards to avail of the benefits. One can apply for the card on the state government websites or at the state “sewa kendras” by paying Rs 10 for the application form and submitting proof of identity, residence, and age. Punjab offers the card for free on turning 60.

Benefits of the card include:

Higher Interest Rates:

Seniors can avail higher interest rates on bank fixed deposits. Generally, banks offer an additional 0.50 percent interest rate to seniors and up to 1.00 percent extra to super senior citizens (80 years and above). The post office’s Senior Citizens Saving Scheme (SCSS) offers seniors a guaranteed 8.2 percent interest rate.

Tax Benefits:

Senior citizens get tax exemptions that are more than regular taxpayers under the old tax regime. The basic income tax exemption limit is Rs 3 lakh for senior citizens and Rs 5 lakh for super seniors. For people less than 60 years, it is Rs 2.5 lakh. However, in the new tax regime, the exemption limit is the same for all individuals- those under 60, seniors, and super seniors.

Travel Discounts:

Though the Indian Railways has suspended ticket discounts to seniors after COVID-19, a few state governments provide discounts on bus travel. Likewise, many air travel companies also give discounts on tickets.

Healthcare Benefits:

Government hospitals provide discounts to senior citizens, who can easily avail of the benefits by showing the senior citizen card.

Other Benefits:

Destitute seniors or those who don’t have financial means to sustain themselves can avail of old-age home services by producing the card. They can also request an early hearing of their cases in legal matters. The card is valid across India for availing of government benefits.