Senior Citizens Savings Scheme (SCSS)

iAbout This Scheme

SCSS is a government-backed savings scheme for senior citizens aged 60 and above, offering one of the highest guaranteed returns at 8.2% per annum payable quarterly. The scheme has a 5-year tenure extendable by 3 years. It is available at post offices and authorised banks.

🎁Key Benefits

• 8.2% per annum interest paid quarterly
• Maximum deposit limit ₹30 lakh per individual
• 5-year tenure, extendable by 3 years
• Section 80C deduction up to ₹1.5 lakh on deposit
• Available at post offices and authorised bank branches
• Premature closure with penalty after 1 year

✅Eligibility Criteria

• 1
  Individuals aged 60+ years
• 2
  Retired civilian employees aged 55-60 under VRS/superannuation allowed within 1 month of receipt of retirement benefits
• 3
  Retired defence personnel aged 50+ allowed

📝How to Apply

❓Frequently Asked Questions