SCSS: This post office scheme gives Rs 2.46 lakh interest in 1 year; know details
Senior Citizens Savings Scheme Account (SCSS) provides guaranteed returns in the form of quarterly interest to senior citizens. They get 8.2 per cent interest annually under this retirement-focussed scheme, which also provides tax exemption on deposits under Section 80C of the Income Tax Act. One can start a SCSS account with a minimum one-time investment of Rs 1000 or with a maximum of Rs 30 lakh. The scheme can provide senior citizens with a quarterly interest of Rs 61,500 if they invest a certain amount. Know calculations-
Deposits up to Rs 1.50 lakh in the senior citizen scheme are tax-exempt under Section 80C of the Income Tax Act. Photo: Pixabay/Representational