Senior Citizen Savings Scheme (SCSS) Interest Rate 2023

Secure Your Golden Years with SCSS Invest in the Senior Citizen Savings Scheme for a Worry-free Retirement.

What is SCSS?

Government-backed savings scheme for senior citizens aged 60 years and above. Provides financial security and regular income during retirement. It offers attractive interest rates, guaranteed and paid quarterly.

SCSS Interest Rate 2023

SCSS Interest Rate: 8.2% p.a. from 1st April to 30th June 2023. Interest will be credited to the account quarterly, providing a regular source of income for investors.

Eligibility Criteria

– Indian resident aged 60 years or above. – Retirees aged 55 years or above (with a pension account) can also apply. – Non-resident Indians (NRIs) and Hindu Undivided Families (HUFs) are not eligible.

How to Apply?

1. Visit your nearest post office or authorized bank branch. 2. Complete the SCSS application form and submit the required documents. 3. Deposit the desired amount and receive a passbook for record-keeping.

Withdrawal and Maturity

– Premature withdrawals are allowed after one year with applicable penalties. – The principal amount can be withdrawn on maturity, or the scheme can be extended for 3 more years.

Tax Benefit of SCSS 2023

Eligible for tax deduction under Section 80C, reducing taxable income. Secure your future and save on taxes!