What is the Senior Citizen Savings Scheme (SCSS)?
SCSS is a premier government-backed retirement product designed for senior citizens aged 60 years and above (or 55+ for superannuated retirees). It offers a guaranteed quarterly interest payout with a sovereign guarantee from the Government of India and tax deduction benefits under Section 80C.
SCSS Scheme Features:
- Maximum Deposit Limit: Enhanced up to Rs. 30 Lakhs per individual.
- Current Interest Rate: 8.2% per annum (paid quarterly on the 1st of April, July, October, and January).
- Tenure: 5 Years (extendable by 3 additional years).
SCSS Calculator
👴 Senior Citizen Savings Scheme (SCSS) Calculator
Quarterly Payout
Rs. 30,750
Annual Interest Income
Rs. 1,23,000
Total 5-Year Return
Rs. 6,15,000
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Disclaimer: The calculations provided by these calculators are estimates based on standard rules and current policies. For official government declarations, financial planning, or investments, please consult with a certified financial planner. — Global Info Wiki Editorial Team
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