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Post Office Senior Citizen Savings Scheme revised rules
SENIOR CITIZEN SCHEME
POST OFFICE SENIOR CITIZEN SAVINGS SCHEME UPDATED RULES
Published By Livemint | 05 Apr, 2023
INTEREST RATE
The SCSS scheme provides 8.2% p.a. Interest
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INTEREST PAYMENT
Interest paid from deposit date: 31 March/ 30 Sep/31 Dec first time
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MIN AMOUNT
Deposit can be made in multiple of
₹
1,000
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MAXIMUM AMOUNT
The maximum amount should not exceed
₹
30 lakh in all SCSS accounts
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TAX BENEFITS
SCSS holders can claim Section 80C benefits for up to
₹
1.5 lakh
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SCSS ELIGIBILITY
People above 60 yrs, Ret civilian employees (55-60 yrs), Ret defence employees (50-60 yrs)
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SCSS JOINT ACCOUNT
Joint account can be opened only with spouse
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SCSS MATURITY
Account can be closed after 5 yrs from the date of opening
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SCSS EXTENSION
Account can be extended from 5 years of maturity by submitting passport at post office
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