The highest interest is available in the Post Office Senior Citizen Saving Scheme. Only citizens above 60 years of age can invest in this.
Many savings schemes are run under the small savings schemes of the post office, in which many types of benefits are given to the investors. Today we are going to talk about one such scheme, which is run by the post office for senior citizens. The name of this scheme is Senior Citizen Saving Scheme. The special thing about this scheme is that it gives interest of 8.2 percent. Since it is a government scheme, there is no risk of losing money.
Senior Citizen Saving Scheme
Senior Citizen Savings Scheme or SCSS is a scheme run by the Post Office for senior citizens. 8.2 percent interest is being given in this scheme and it is one of the highest interest paying schemes of the post office. In this scheme you have to deposit a lump sum amount. After this you start getting the benefit of interest rate.
Benefits of Senior Citizen Saving Scheme
- Tax Savings: The special thing about the Senior Citizen Saving Scheme is that it provides the benefit of tax savings of up to Rs 1.5 lakh under Section 80C of Income Tax.
- Investment of Rs 30 lakh: Up to Rs 30 lakh can be invested in this scheme. If a person wants to invest his retirement fund somewhere, then this can be a good option.
- Regular Income: One advantage of SCSS is that interest is paid to you on a quarterly basis. This gives you regular income.
How to open an account?
You can easily open a SCSS account by visiting any nearest post office. This requires PAN and Aadhaar. A minimum investment of Rs 1,000 will have to be made in this and a maximum investment of Rs 30 lakh will have to be made.
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