SaralnamaToday: The Senior Citizens Savings Scheme (SCSS) offers 8.2% annual interest. Seniors can invest up to ₹30 lakh and earn ₹20,500 monthly. From: Interest rates for small savings schemes remain unchanged. Until: Quarterly interest payments continue at 8.2%. Next: After 5 years, a ₹30 lakh investment grows to ₹42 lakh if interest is not withdrawn. The scheme provides tax benefits under Section 80C. Citizens aged 60+ can open an account. VRS retirees (55-60 years) and defense retirees (50-60 years) are also eligible. Experts advise consulting before investing. (Updated 26 Oct 2025, 22:35 IST; source: link)
Key Points
- Today: The Senior Citizens Savings Scheme (SCSS) offers 8.2% annual interest
- Seniors can invest up to ₹30 lakh and earn ₹20,500 monthly
- From 1 Oct: Interest rates for small savings schemes remain unchanged