How much investment do you need in this senior citizen scheme to get over Rs 60,000 quarterly interest? Know here
Retirement Planning: One can open a single or a joint account in SCSS. An individual above 60 years of age, a retired civilian employee above 55 years of age and below 60 years of age, or a retired defence employee above 50 years of age and below 60 years of age can open the SCSS account. The scheme provides 8.2 per cent annual interest. The interest is payable from the date of deposit to March 31/September 30/December 31 in the first instance and thereafter, on April 1, July 1, October 1, and January 1.
Senior Citizen Savings Scheme (SCSS): We need money to run our daily expenses in every stage of our life. We may be young or old, expenses never stop. In old age, there are high chances that you don't have a job or some source of a regular income. But that's the reason senior citizens invest in a scheme that helps them earn a fixed, regular income every month. It ensures that their minimum necessities are met. With the same purpose, post office runs Senior Citizen Savings Scheme (SCSS), where with a one-time investment, they can get quarterly income. Know what it is; how does it work; what are the eligibility criteria; and how much investment you need to make quarterly incomes of Rs 50,000 and Rs 60,000.
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What is Senior Citizen Savings Scheme (SCSS)?
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What is Senior Citizen Savings Scheme (SCSS)?
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Minimum investment in SCSS
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Minimum investment in SCSS
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SCSS tax benefits
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How to get Rs 50,000 quarterly amount in SCSS
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