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Jul 27, 2024 · Budget 2023 Update: The maximum deposit for senior citizen saving scheme has been increased from Rs 15 lakhs to Rs 30 lakhs. The Senior Citizens Savings Scheme (SCSS) is primarily for the senior citizens of India. The scheme offers a regular stream of income with the highest safety and tax saving benefits.
Nov 10, 2023 · The SCSS now allows a maximum deposit of Rs 30 lakh. This was announced in Budget 2023. If the account holder passes away, the spouse, being joint holder or sole nominee of the scheme, can continue with the SCSS account by informing the same to the accounts office (post office or a bank branch where an account is opened).
Feb 1, 2023 · Senior Citizen Savings Scheme (SCSS) Investment Limit: For the quarter ending March 31, 2023, the government has raised the interest rate for the Senior Citizen Savings Scheme (SCSS) to 8%.
Jan 17, 2024 · This article provides a comprehensive understanding of the latest SCSS rules, covering eligibility criteria, investment options, extension of tenure, and income tax benefits. Senior Citizen Savings Scheme (SCSS) after SB Order No.22/2023 Dated: 14.11.2023.
Apr 4, 2024 · The account shall be opened with a minimum deposit of one thousand rupees or any sum in multiple of one thousand rupees not exceeding Rupees Rs 30 Lakhs w.e.f. 01.04.2023. The depositor may extend the account for a further period of three years after the maturity period of five years.
Mar 20, 2023 · From April 1, 2023, senior citizens can invest up to Rs 30 lakh in the post office’s Senior Citizen Savings Scheme (SCSS) as announced by Finance Minister Nirmala Sitharaman proposed in her Budget 2023 speech. Earlier the maximum limit to invest was Rs 15 lakh.
Oct 4, 2024 · Senior Citizen Savings Scheme (SCSS) Deposit Limits. Eligible investors can make a lump sum deposit in Post Office Senior Citizen Savings Scheme (SCSS). Minimum Deposit– Rs. 1,000 (and in multiples thereof) Maximum Deposit– Rs. 30 Lakh; While deposits in SCSS accounts can be made in cash, it is allowed only for amounts less than Rs. 1 Lakh.
Apr 1, 2023 · Senior Citizen Savings Scheme notification 2023: The Government has notified the increase in the Senior Citizens’ Savings Scheme (SCSS) deposit limit to Rs 30 lakh per account. Along with...
Jul 26, 2024 · Deposits can range from a minimum of Rs 1,000 to a maximum of Rs 30 lakh, in multiples of Rs 1,000. SCSS accounts can be transferred between post offices and banks (public, private).
The account can be opened with the minimum amount of Rs. 1000 and maximum amount of Rs 30 Lacs can be deposited in the account. RATE OF INTEREST. A/C holders will earn an annual interest of 8.20% . However, the interest rate is notified quarterly by Government of India.
