Some important points on the senior citizen savings scheme
Saturday, March 18, 2017, 6:30 PM
Senior citizens who are 60 years or more can invest in SCSS. The maximum amount which can be deposited is INR 15 Lakhs. SCSS has a maturity term of 5 years. You get tax deduction up to INR 1.5 Lakhs a year under Section 80C on the investment in SCSS. The interest offered is higher than a bank fixed deposit.