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Jul 27, 2024 · The Senior Citizens Savings Scheme (SCSS) allows senior citizens in India to invest up to Rs. 30 lakhs, providing a safe and tax-saving stream of income. The scheme features a government-backed retirement benefits program, with a fixed 8.2% interest rate.
Apr 4, 2024 · The deposit made under these rules shall bear interest as directed by Govt of India from time to time quarterly. At present it is 8.20% per annum with effect from 01.04.2023. If the interest payable every quarter is not claimed by an account holder, such interest shall not earn additional interest.
Oct 4, 2024 · Senior Citizen Savings Scheme interest rates for the 3rd quarter (October-December) of FY 2024-25 is 8.2% p.a. This is one of the highest interest rates offered by a fixed-income small savings scheme.
Nov 10, 2024 · Why SCSS is Popular Among Senior Citizens. High Interest Rate: The 8% interest rate is significantly higher compared to regular savings accounts and fixed deposits, making it an attractive choice ...
May 2, 2024 · Here, we have compared the interest rates offered by the Senior Citizens Savings Scheme (SCSS) and the bank fixed deposit rates with a 5-year tenure for senior citizens and other important features. SCSS vs bank FD: Eligibility
Senior Citizen Saving Scheme is a long-term savings scheme for people above the age of 60 years. SCSS is a preferred fixed income investment that offers attractive interest rate.
Senior Citizen Savings Scheme (SCSS) is a government-sponsored savings instrument for individuals above the age of 60. Learn more about features, eligibility and interest calculation under the Senior Citizen Savings Scheme.
