Senior Citizen Savings (SCSS)
Estimate quarterly interest earnings for Senior Citizen Savings Scheme.
₹
Interest Rate: 8.2% (Fixed)
Quarterly Income₹ 10,250
Total Interest (5Y)₹ 205,000
SCSS is the gold standard for retirees. It offers the highest safety (Sovereign Guarantee) and one of the highest interest rates among all debt instruments in India.
👴 Key Highlights
- Interest Rate: 8.2% p.a. (Paid Quarterly)
- Max Investment: ₹30 Lakhs per individual.
- Tax Benefit: Investment eligible for Section 80C.
Frequently Asked Questions
Who is eligible?
Any individual above 60 years. Retired civilian employees above 55 and defense retirees above 50 can also join.
Is interest taxable?
Yes. TDS is deducted if interest exceeds ₹50,000 in a financial year.