What is the annual interest rate offered by the Senior Citizens Savings Scheme (SCSS)?

A)
7.6%
B)
7.8%
C)
8.0%
D)
8.2%

Correct Answer :   8.2%


The Senior Citizens Savings Scheme (SCSS) offers an attractive annual interest rate of 8.2%, providing retirees with a reliable source of income.

Eligible individuals aged 60 and above can invest up to Rs 30 lakh in this scheme, which has a maturity period of up to five years.

The SCSS can yield up to Rs 20,000 in monthly income, making it a popular choice for those seeking financial stability post-retirement. However, the income generated from this scheme is taxable.

Published On : September 1, 2024