Now Get 8% Rate of Interest in Senior Citizen Savings Scheme
In recent days small savings schemes offer time deposits have higher interest rates than bank deposits.
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The Senior Citizen Savings Scheme offers an attractive interest rate of 8%, which is significantly higher than the rates offered by banks to senior citizens. This scheme is an excellent choice for seniors looking to earn higher returns by depositing their money. To open an account under this scheme, an individual must be at least 60 years old. However, individuals who have retired and are between 55 and 60 years old are also eligible to open an SCSS account, provided they open the account within one month of receiving their retirement benefits and the deposit does not exceed the amount received after retirement.