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Plan your retirement income with the Senior Citizen Savings Scheme. Calculate your quarterly interest payouts instantly.
The Senior Citizen Savings Scheme (SCSS) is a government-backed retirement benefits program. It allows senior citizens to invest a lump sum amount and earn regular quarterly interest income.
An individual who has attained the age of 60 years or above is eligible. Retired civilian employees above 55 years and retired defense employees above 50 years are also eligible, subject to certain conditions.
As of Q4 FY 2025-26, the interest rate for SCSS is 8.2% per annum. The interest is paid on a quarterly basis on the 1st working day of April, July, October, and January.
The minimum investment is ₹1,000 and the maximum limit is ₹30 Lakhs. The investment must be in multiples of ₹1,000.
Yes, investment in SCSS qualifies for tax deduction under Section 80C of the Income Tax Act, up to a limit of ₹1.5 Lakh per financial year. However, the interest earned is fully taxable.
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