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3 days ago · Senior Citizen Savings Scheme (SCSS) is a government-backed retirement benefits programme. Senior citizens resident in India can invest a lump sum in the scheme, individually or jointly, and get access to regular income along with tax benefits. It is a Post Office savings scheme.
Apr 4, 2024 · Learn about the features and benefits of opening a SCSS account with SBI, such as minimum deposit, interest rate, extension, nomination and withdrawal. Download the revised SCSS account opening form from the web page.
Jan 17, 2024 · Learn about the latest SCSS rules, eligibility criteria, investment options, extension of tenure, and income tax benefits. Find out how to open, transfer, withdraw, and close SCSS account and get answers to common questions.
The Senior Citizens Savings Scheme (SCSS) is a Government-backed post office savings scheme that offers senior citizens a regular stream of income with the highest savings and tax-saving benefits. This is a secure form of investment with a guarantee of returns upon its maturity.
SCSS is a government-sponsored savings instrument for individuals above 60 years. It offers quarterly interest, tax benefits, security of capital, and easy investment process. Learn how to open an account, calculate interest, and check eligibility criteria.
- If individuals make partial withdrawals from their SCSS account after one year of account opening, then penalty charges will not apply.
- Yes, the joint account facility is available only if an individual opens an account with his/her spouse.
- If the deposit amount is higher than Rs. 10 Lakh, then the deposit shall be made through cheque.
- Yes, a depositor can prolong their SCSS for a term of three years within one year of maturity.
- There is no fee.
Mar 20, 2023 · Senior Citizen Savings Scheme offers an interest rate of 8 percent with quarterly payout. Senior citizens can claim a tax deduction of up to Rs 1.5 lakh for investments in SCSS under Section 80 C of the Income Tax Act, 1961.
Apr 16, 2024 · SCSS is a government-backed savings instrument for Indian residents aged above 50 years. Learn about the eligibility criteria, interest rate, tax benefits, withdrawal rules, and how to open an SCSS account at banks or post offices.
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