Advantages Of Investing In Senior Citizen Savings Scheme

Senior Citizen Savings Scheme (SCSS) provides a government-backed mode of investment to elderly people.

Any person over the age of 60 can invest in the scheme.

SCSS provides a secure investment with a fixed rate of investment, let's know its advantages.

Investors can gain tax benefits under section 80C of the Income Tax Act. Investors can get up to Rs 1.5 lakh deduction u/s 80C.


Since the SCSS is backed by the government, it is safe to invest in. There is less chance of default or loss in the SCSS.


Investors can withdraw their money after one year from the opening of the account.


In case the investor shifts to another place, they can easily get the SCSS transferred to the bank/post office branch closest to them.


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