By Admin 
Senior Citizen Saving Scheme: If you want to get a good income every year without risk, then Post Office Senior Citizen Saving Scheme (SCSS) can be the best option. This scheme has been specially designed for the elderly, in which along with secure returns, they also get the benefit of tax exemption.
The government decides the interest rates of small savings schemes every three months. There has been no change in the interest rate of SCSS for the April-June 2026 quarter and it still remains at 8.2% per annum.
How to invest and get interest in SCSS
The duration of this scheme is for 5 years, which can be extended by 3 more years if needed. A maximum investment of up to Rs 30 lakh can be made in this. In such a situation, if a senior citizen does this, he can get interest up to ₹ 61,500 every quarter. This means that you get regular income four times a year, making it a good source of stable income for retirees.
Government will give Rs 30000 on the birth of the third child, Rs 40000 on the birth of the fourth, a big decision on the decreasing population.
What is the special feature of the scheme?
Minimum investment in this scheme can be started from just ₹ 1,000. Both husband and wife can open separate accounts or can also open joint accounts with each other, in which the limit for each account remains up to ₹ 30 lakh.
If more money is deposited in the account than the prescribed limit, then the depositors will get the return amount. Also, the interest rate applicable on Post Office Savings Account will be valid from the date of extra deposit till the date of withdrawal.
taxes and benefits
The interest received from this scheme comes under the ambit of tax. However, senior citizens can avail exemption of up to ₹ 50,000 under Section 80TTB of the Income Act. Thus SCSS is useful for those who want regular and reliable income with safe investments.
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