Senior Citizen Savings Scheme
Latest Senior Citizen Savings Scheme Interest Rate 2026: Maximum deposit, tenure and benefits explained
The Senior Citizen Savings Scheme (SCSS) offers a competitive 8.2% fixed interest rate, matching the Sukanya Samriddhi Account. This rate, applicable for the January-March 2026 quarter, remains unchanged from the previous period. SCSS provides a higher return than most bank FDs, though it has a deposit limit of Rs 30 lakh.
Will interest rates on SCSS, PPF, SSY and other small savings schemes fall for Jan-March 2026?
The Finance Ministry will review Post Office small savings scheme interest rates by December 31, 2025, for the January-March 2026 quarter. While G-Sec yields suggest potential cuts, experts believe the government may prioritize stability for household savers, especially senior citizens, over formula-based reductions.
Have PPF, NSC, SCSS interest rates changed for January-March 2026? Check latest rates of small savings scheme announced today
The Finance Ministry maintained current interest rates for key small savings schemes like PPF, SCSS, and NSC for the January-March 2026 quarter. Despite indicators like low inflation and G-Sec yields suggesting a rate cut, the government opted to keep rates unchanged for the seventh consecutive quarter to support savers and retirees.
Govt keeps small savings interest rates unchanged for March quarter
Government has maintained interest rates for twelve small savings schemes, including PPF and Sukanya Samriddhi, for the March quarter. This marks the eighth consecutive quarter without changes, despite the central bank's repo rate reductions. These collections aid in financing the government's fiscal deficit.
8.05% interest rate on RBI Floating Rate Savings Bond for January-June 2026: When will you get the next interest payment?
RBI Floating Rate Savings Bonds will continue to offer 8.05% interest until June 2026, linked to the National Savings Certificate rate. Interest is paid semi-annually on January 1 and July 1. Investors should note that this interest is taxable, and TDS applies if annual interest exceeds Rs 10,000. Premature redemption is possible under specific conditions with a penalty.
Why RBI floating rate bond with 8.05% interest is still one of the best investment options for most investors?
RBI floating rate bonds provide a secure investment with an 8.05% interest rate. Issued by the Indian government, these bonds offer a sovereign guarantee. Unlike many small savings schemes, there is no maximum investment limit. The interest rate adjusts every six months, aligning with market changes. This makes them ideal for conservative investors seeking stable income and capital protection.
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To whom do the new Senior Citizen Savings Scheme (SCSS), PPF rules apply? Govt clarifies
The Department of Posts came out with an detailed notification about senior citizen savings scheme (SCSS) and Public Provident Fund (PPF) few weeks back. On November 29, 2023 the Department of Posts issued a clarification as to who the new SCSS and PPF rules would apply. Read below to find out.
Higher investment limit in saving schemes aimed at benefiting senior citizens, middle class: Fin Secy
The top bureaucrat in the finance ministry said the decision to revise the ceilings will come at a cost as the government can raise funds at a cheaper rate compared to the 8 per cent interest that it gives under the Senior Citizen Savings Scheme. "Taking into account the welfare of senior citizens, for whom fixed income instruments are the main source of income... it was decided that this is a cost which the government should bear and therefore the ceilings were increased," he said.
What is the latest Senior Citizens’ Saving Scheme interest rate?
The Senior Citizens' Savings Scheme (SCSS), a government initiative that offers quarterly interest payments, allows seniors to save money.
Senior Citizen Savings Scheme vs high interest rate bank FDs: Where should you invest?
The interest rate on SCSS was revised from 7.4% to 7.6% which is at present the highest interest rate offered by a small savings scheme. Many smaller private sector banks and small finance banks are now offering FD interest rates high as 9%. Rise in FD interest rate is expected to continue in next few months. Will SCSS remain competitive to FDs or should you prefer FDs now.
Sukanya Samriddhi Yojana interest rate 2025: What will be maturity amount if you invest Rs 1.50 lakh/year?
The Sukanya Samriddhi Yojana (SSY) offers a high 8.2% interest rate, making it a top post office small savings scheme for daughters' financial security. With over four crore accounts opened and Rs 3.25 lakh crore deposited, SSY aims to fund education and marriage expenses. The maximum investment in the scheme in a financial year is Rs 1.50 lakh.
What is Senior Citizens’ Savings Scheme?
Senior Citizen Savings Scheme is a government-backed scheme. The current interest rate applicable to SCSS is 7.4%. Tax benefits under Section 80C are available but interest is fully taxable.
Can my wife and I open two joint Senior Citizens’ Savings Scheme accounts?
A senior citizen can invest up to Rs 15 lakh in an SCSS account. This account can be held jointly with one’s spouse.
Senior Citizens' Savings Scheme latest interest rate
You can open a Senior Citizens' Savings Scheme (SCSS) account alone or with your spouse at any bank or post office. SCSS has a 7.4 percent interest rate for the quarter ending March 31, 2022.
How to open a Senior Citizens’ Savings Scheme
For senior citizen investors, safety and returns play an important role while choosing an investment vehicle. The Senior Citizens’ Savings Scheme (SCSS) can be availed from a post office or a bank by anyone above 60, i.e., a senior citizen.
Govt doubles deposit limit for Senior Citizen Savings Scheme to Rs 30 lakh
"The maximum deposit limit for Senior Citizen Savings Scheme will be enhanced from Rs 15 lakh to Rs 30 lakh," the minister said in her 87-minute long speech.
Will PPF interest rate be finally hiked in 2024 after remaining unchanged since April 2020?
PPF, Senior Citizen Savings Scheme, and Sukanya Samriddhi Account: Interest rates of small savings schemes are due for revision at the end of this month. The interest rates of small savings schemes are linked to yields of 10-year Government Securities in the secondary market. There are set formulae for mark-ups over the previous three months’ average yield of relevant G-Secs of comparable maturity. Let's see if you are in for a New Year bonanza from the Central Government this time.
Senior Citizens Savings Scheme (SCSS) saves tax, beats bank FDs: Here's all you need to know about it
Backed by the government, the scheme offers capital protection, along with quarterly interest payment as a source of income. Senior citizens can claim deduction under Sectio 80TTB on the interest earned from SCSS.
Govt says Senior Citizens Savings Scheme taxable
The Government on Wednesday clarified that the Senior Citizens Savings Scheme, that gives 9 per cent interest rates on investment up to Rs 15 lakh, is taxable and that tax would be deducted at source for those elderly people who come under the tax net.
Senior Citizen Savings Scheme's investment limit increased to Rs 30 lakh: Budget 2023
Senior Citizen Savings Scheme (SCSS) Investment Limit: For the quarter ending March 31, 2023, the government has raised the interest rate for the Senior Citizen Savings Scheme (SCSS) to 8%.
Senior Citizens’ Savings Scheme: Who can invest, how to open SCSS account
An SCSS account can be opened at an authorised bank. It's a good idea to check with your bank whether it offers this facility. An SCSS account can be opened at a post office too.
Govt needs to exempt tax on interest earned under senior citizens scheme: SBI study
The RBI should also now mandate that the liability of the banks "also move in tandem" with lending rates.
Senior Citizen Savings Scheme investment limit hiked to Rs 30 lakh: Govt issues notification
Budget 2023 proposed a hike in investment limit in Senior Citizen Savings Scheme (SCSS. A hike of Rs 15 lakh was proposed in the SCSS. As per the proposal, the maximum investment limit in SCSS has been doubled from Rs 15 lakh to Rs 30 lakh. Now the government has issued a notification for the same.
Plus and minus points of Senior Citizens’ Savings Scheme
SCSS offers tax benefits under Sec 80C and allows premature withdrawals. However, there are a few problems that need to be fixed.
Top 7 investment options for senior citizens who want regular income
Here are seven popular investment options that senior citizens can consider for a regular income.
Interest rate up to 8.2%: Latest interest rates of PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi, other post office schemes
Latest small savings schemes interest rates: The savings schemes offered by post offices consist of the Public Provident Fund, Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposits (POTD), Mahila Samman Savings Certificate, and Post Office Monthly Income Scheme (POMIS).
Senior citizen savings scheme: What is the SCSS interest rate for the January-March 2024 quarter?
The government-backed Senior Citizen Savings Scheme (SCSS) is available for those over the age of 60, or 55. The government fixes the interest rate on SCSS every quarter.
Post Office schemes beating FD returns: These small savings schemes offer 7% and higher interest rates on deposits
In 2025, falling bank FD rates are prompting investors to explore post office small savings schemes. Many of these schemes now offer higher interest rates than most leading banks, with some also providing income tax benefits. The government guarantees all investments in these post office schemes.
Tax queries: Does the senior citizens savings scheme qualify for section 80C benefits?
Dilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
