Five Important Facts Every Senior Citizen Should Know About SCSS

Planning for retirement? The **Senior Citizens' Savings Scheme (SCSS)** is a Government-backed savings scheme designed to provide regular income for eligible senior citizens. Here are five important facts to know:

✅ **Fixed Interest Rate** – The interest rate is fixed at the time of account opening and remains unchanged for the 5-year tenure.

✅ Current Interest Rate: SCSS currently offers 8.20% p.a. (subject to revision by the Government for new investments).

✅ **Investment Limit** – Eligible investors can invest up to **₹30 lakh** across all SCSS accounts.

✅ **Quarterly Income** – Interest is credited every quarter, making it a suitable option for those seeking regular post-retirement income.

✅ **Premature Closure Facility** – The account can be closed before maturity, subject to applicable rules and deductions.

Being aware of Government savings schemes can help senior citizens make informed financial decisions and strengthen their retirement planning.

At FINGuide Buddy, we believe in spreading financial awareness. While we do not distribute the Senior Citizens' Savings Scheme (SCSS), we are happy to help you understand how Government savings schemes, Mutual Funds and other investment options can fit into your overall financial and retirement plan.

FINGuide Buddy AMFI Registered Mutual Fund Distributor ARN-257079

Mutual Fund investments are subject to market risks. Read all scheme-related carefully.