Senior Citizens Savings Scheme
Get comprehensive insights, tips, and strategies for maximizing your SCSS investment
Senior Citizens Savings Scheme is exclusively for senior citizens, offering quarterly interest payments with attractive interest rates.
Investment qualifies for deduction under Section 80C. Interest is taxable.
The SCSS is a government-backed savings scheme with guaranteed returns, making it ideal for risk-averse investors. To get the most out of this scheme, invest consistently for the full tenure and avoid premature withdrawals unless absolutely necessary.
With a fixed interest rate of 8.2%, your investment will grow steadily over time. You can also combine this scheme with others like SCSS or NSC for a diversified and tax-efficient portfolio.
Use the calculator above to try different investment amounts and durations to plan your future savings better. You’ll be able to compare maturity amounts and see how your money grows over time.
Disclaimer: This article is for educational purposes. Always consult your financial advisor before making investment decisions.
Use our calculator to compare different investment amounts and see how your money grows over time.
