What is SCSS?
The Senior Citizen Savings Scheme (SCSS) is one of the safest and highest-yielding retirement schemes in India. Backed by the Government of India, it offers a guaranteed 8.2% p.a. interest with quarterly payouts directly credited to your bank account.
Key Features & Benefits
- Quarterly Payouts: Interest is paid every 3 months (March 31, June 30, Sept 30, Dec 31).
- High Interest Rate: Currently 8.2% p.a. — significantly higher than most bank FDs.
- Maximum Limit: Up to ₹30 Lakhs per senior citizen.
- Tax Deduction: Investment qualifies for deduction up to ₹1.5 Lakhs under Section 80C.
- Government Guarantee: 100% capital safety backed by the Government of India.
Advertisement
SCSS Income Matrix (at 8.2%)
| Investment | Quarterly Income | Total Interest (5 Years) |
|---|---|---|
| ₹1,00,000 | ₹2,050 | ₹41,000 |
| ₹5,00,000 | ₹10,250 | ₹2,05,000 |
| ₹15,00,000 | ₹30,750 | ₹6,15,000 |
| ₹30,00,000 (Max) | ₹61,500 | ₹12,30,000 |