Mon, Sep 23, 2024
SBI 5-Year FD vs SCSS: A Rs 15 Lakh investment over 5 years presents two popular options—SBI Fixed Deposit (FD) and Senior Citizen Savings Scheme (SCSS). SBI FDs offer interest rates up to 7.50% for senior citizens, while SCSS provides government-backed security with quarterly interest payouts. SCSS typically delivers higher returns, making it a top choice for retirees. However, SBI FDs offer more flexibility with loans against deposits and auto-renewal options. Know which one is more suitable for you.
More >
Fri, Aug 30, 2024
SCSS: The scheme provides 8.2 per cent per annum interest. The minimum one-time investment in the scheme is Rs 1000, while the maximum is Rs 30 lakh.
Thu, Aug 22, 2024
SCSS: To take benefit of this scheme, one should be 60 years old or more than that. At the same time, civil sector government employees taking VRS and people retiring from defense are given age relaxation with certain conditions.
Fri, Aug 09, 2024
Senior Citizens Savings Scheme Account (SCSS): The minimum one-time investment in the scheme is Rs 1,000, and the maximum is Rs 30 lakh. SCSS provides an annual interest rate of 8.2 per cent.
Fri, Jul 26, 2024
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.
Fri, Jun 28, 2024
Senior Citizens Savings Scheme Account (SCSS): For senior citizens looking for a guaranteed return income option post retirement, this scheme provides quarterly income on a one-time investment.
Fri, Jun 14, 2024
Senior Citizen Savings Scheme Account (SCSS) is a small savings post office scheme focused on providing income to senior citizens. Senior citizens can deposit in their SCSS account in the multiples of Rs 1,000, with the maximum amount not exceeding Rs 30,00,000. The post office provides 8.2 per cent annual interest in this guaranteed return scheme. Deposits of up to Rs 1.50 lakh in a financial year made under the scheme qualify for tax benefits under Section 80C of the Income Tax Act, 1961.
Fri, Jun 07, 2024
Senior Citizen Savings Scheme (SCSS) is a small savings, guaranteed return scheme run by the post office, where senior citizens get 8.20 per cent yearly interest. The non-market-linked scheme has a lock-in period of five years, where one makes a one-time investment to get a quarterly income in the form of interest. The minimum deposit in the scheme is Rs 1,000 and in multiples of Rs 1,000, while the maximum deposit is Rs 30 lakh. One gets the principal amount back on maturity.
Fri, May 24, 2024
Senior Citizens Savings Scheme Account (SCSS) scheme provides an annual interest rate of 8.20 per cent, which is the second-best among all post office schemes after Sukanya Samriddhi Yojana (SSY). Investments in SCSS qualify for a tax exemption of up to Rs 1.50 lakh under Section 80C of the Income Tax Act, 1961.
Mon, Sep 18, 2023
Senior Citizens' Savings Scheme (SCSS) and bank FDs are preferred investment instruments for postretirement financial security. Most of the banks offer higher interest rates on FDs to senior citizens compared to other customers.
Sun, Sep 10, 2023
Senior citizens and retirees value financial security and consistent sources of income. For them, investments that provide risk-free returns and tax deductions are perfect for retirement planning. In this video we talk about popular tax-saving investment options that can be beneficial for senior citizens.
Fri, Jun 11, 2021
SCSS is for those who have already attained the age of 60 years, while the other two NPS and PPF options are for those who want to build on the years before retirement.
Sun, Apr 18, 2021
One of the most popular investment schemes with assured resturns in the Kisan Vikas Patra. This scheme offers attractive interest rates and is one of the highest among the savings schemes. However, there are schemes which offer higher interest rates. Know more about these here and also the expert stake
Tue, Apr 13, 2021
Looking for safer investment options with assured returns? You can invest in some wonderful small savings schemes. There are 12 of them, but we will tell you about the top 3 schemes with the highest rate of interest. The top three small savings schemes run by the government of India are Senior Citizens Savings Schemes (SCSS), Public Provident Fund (PPF) and Sukanya Samriddhi Yojana
Mon, Apr 05, 2021
Government has made it clear that there will be no reductions in the interest rates of saving schemes. So, if you want to make investments for assured returns, small savings schemes are your answer. But are you aware about the schemes will earn you highest returns? The top three small savings schemes run by the government of India are Senior Citizens Savings Schemes, PPF and Sukanya Samriddhi Yojana
Thu, Apr 01, 2021
A day after announcing a cut in interest rates, government has taken a U-turn and this has come as a big breather for all investors who have invested various small savings schemes like NSC, PPF recurring deposit, Senior Citizens Savings Scheme, time deposit and others. Government has withdrawn its office memorandum issued on 31st March, 2021 regarding the cut in interest rates
Thu, Sep 10, 2020
PNB Senior Citizens Savings Scheme: Are you aware about this retirement scheme being offered by India’s second largest public sector bank Punjab National Bank (PNB)? The Senior Citizens Savings Scheme (SCSS) which was launched by the Government of India in 2004 offers guaranteed retirement income
Thu, Jul 09, 2020
If you are a senior citizen and are looking for an investment that is risk free and also gives good returns, you must know about this savings scheme. The Senior Citizen Savings Scheme (SCSS) ensures an interest rate of 7.4 per cent per annum. Compare that with the small returns banks are giving nowadays
Sat, Jan 11, 2020
While there are many investment instruments that can give you great tax-saving options, we pick the top five for you
Sun, Sep 08, 2019
Several changes have been made to the public provident fund (PPF), senior citizen savings scheme (SCSS), and post office savings schemes.
Fri, Mar 29, 2019
An individual of 60 years of age or above can open Senior Citizen Savings Scheme account (SCSS) at a post office.
Tue, Jan 22, 2019
There are several investment options that give very high annual returns but investors remain keen on the risk involved. Therefore they prefer opting for government-backed schemes that are high or stable on earnings with zero or low risk of principal amount invested.
Sun, Feb 11, 2018
The revision in interest rates does not affect old investments except for PPF and SSY.
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
