Senior Citizens Savings Scheme (SCSS) Explained: Secure Investment Plan for Retirement

Senior Citizens Savings Scheme (SCSS): A Smart Investment for a Stress-Free Retirement

Planning your finances post-retirement can be daunting, especially with fluctuating markets and low-risk appetite. That’s where the Senior Citizens Savings Scheme (SCSS) comes in a government-backed scheme tailored specifically for individuals aged 60 and above.

In a recent Paisa.Talk episode, financial expert Gaurang Sanghvi breaks down how SCSS works and why it’s one of the best options for senior citizens seeking safe and reliable returns. How does this smart investment can make your future more comfortable and safe and should you invest in this as a 60+.

Key Features of SCSS:

• Eligibility: Indian citizens aged 60 years or above.

• Interest Rate: Attractive quarterly rates (currently around 8.2%, subject to change).Reverse Mortgage Secrets You Must Know Before You Sign

• Tenure: 5 years, extendable by 3 years.

• Maximum Investment: Up to ₹30 lakhs (as per latest revision).

• Tax Benefits: Deduction under Section 80C of the Income Tax Act.

Why SCSS is a Great Choice:

• Fixed and secure returns

• Government guarantee

• Ideal for those seeking monthly income or retirement stability

Whether you're retired or planning for a parent's future, SCSS offers a low-risk, high-trust solution that helps senior citizens maintain financial independence.

Watch the full explanation by Gaurang Sanghvi on GenS Life presents Paisa.Talk to learn more.