Post Office Senior Citizen Saving Scheme: તમે માત્ર 5 વર્ષમાં 14 લાખ રૂપિયા મેળવી શકો છો

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Post Office Senior Citizen Saving Scheme.

Post Office Scheme 2023  :  Indian Postal Department issues many big beneficial schemes for its customers. It has schemes for citizens of all ages. If you also want to invest safely, then you have a chance to become a millionaire in a few years.

We are telling you  about ‘Post Office Senior Citizen Saving Scheme’ in which you get interest at the rate of 8.1 percent. That is, with a simple investment, you can earn Rs. You can make a huge fund of 15 lakhs. Here through this article we are talking  about Post Office Senior Citizen Saving Scheme .

Post Office Monthly Income Scheme for Senior Citizens  : If you are retired, this is run by the Indian Postal Department. Senior Citizen Saving Scheme (SCSS) scheme is more beneficial and better for you. It is advisable to invest your lifetime earnings somewhere which is safe and gives returns

To open an account in India Post SCSS, the age should be 60 years. Only people of 60 years of age or above can open an account in this scheme. Apart from this, people who have taken VRS can also open an account in this Post Office Senior Citizen Saving Scheme.

Post Office Senior Citizen Saving Scheme Calculator  : If you invest Rs. 10 lakhs, then after 5 years i.e. on maturity, the total amount of India Post will be Rs. Will be like 15 lakhs. Here you are getting the benefit of Rs 4,28,964 as interest.

Highlights of Senior Citizen Saving Scheme

Name of the article Post Office Senior Citizen Saving Scheme
text language English
purpose of the article  Information about Post Office Senior Citizen Saving Scheme
Department Name Indian Postal Department
Scheme Name Post Office Senior Citizen Saving Scheme
Post Office Official Website https://www.indiapost|

Benefits of Senior Citizen Saving Scheme in Post Office and its other features

Senior Citizen Saving Scheme – Interest Rate

Disadvantages of Senior Citizen Savings Scheme:  Interest is being received at the rate of 7.4 percent per annum in this post office scheme. This interest rate was applicable from 1 April 2020. But from April 1, 2023, the interest rate has been increased to 8.1 percent.

Senior Citizen Saving Scheme – Investment amount

The amount has to be deposited only once in this government scheme. This amount will be in multiples of one thousand rupees and can be up to a maximum of Rs 30 lakh.

Senior Citizen Saving Scheme – Who can open an account?

Any person above the age of 60 years can open an account in the Senior Citizen Savings Scheme. Also a retired employee above the age of 55 years but below the age of 60 years. Investment in this has to be done within one month of receiving retirement benefits. Retired defense personnel above 50 years but below 60 years can also invest in it. In this case the investment has to be made within one month of receiving the retirement benefits. The account can be opened individually or jointly with the spouse.

Senior Citizen Saving Scheme – Investment Period

Account can be closed after 5 years from the date of opening. For this, the appropriate application form has to be submitted along with the passbook to the concerned post office. In case the spouse is a joint holder or sole nominee, the account can be continued till maturity, provided the spouse is eligible to open the account in the scheme and does not have any other account.

Senior Citizen Saving Scheme – Tax benefit and other benefits

  • Investment under this scheme offers benefits under section 80C of the Income Tax Act, 1961.
  • The account holder can extend the account for more than 3 years from the maturity date. For this he has to submit the proper form along with the passbook in the concerned post office.
  • The account can be extended within one year of maturity.

Single and joint account can be opened

Senior Citizen Savings Scheme can be opened as a single account or as a joint account with your spouse. Apart from this, no other investor can be added to this account. You can invest your money in this scheme for five years.

Benefits of investing in SCSS

The SCSS scheme offers several benefits to senior citizens-

  • Since SCSS is a government scheme, it comes with all the safety and security measures associated with such government-backed programmes.
  • Currently, the current interest rate is 8.1 per cent per annum, which is very high. Hence, it provides higher returns which provides most of the tax-saving component under Sector 80C.
  • Since the maturity period is longer and can be extended further, it encourages senior citizens to keep it as a long term investment plan which keeps them financially secure.
  • Under Section 80C of the Income Tax Act, 1961, there is a tax deduction of up to ₹1.5 lakh in any financial year on the investment made by you in a senior citizen tax-saving scheme.
  • As you can invest any amount between Rs.1000 to Rs.30 Lakh (in multiples of Rs.1000), it provides you excellent returns. But, you can invest only once in lump sum.
  • In case of emergency, you have the option of early withdrawal after deducting the applicable penalty.
  • The scheme is very widely available, making it accessible to citizens across the country.
  • You can also open a joint SCSS account with your spouse. In this case the maximum amount is Rs. 30 lakh, and a joint account can be opened only with the spouse. In case of joint SCSS account, the age of the first depositor should be above 60 years. No such rule will apply to any other applicant.
  • You can also choose one or more nominees. You can also change or cancel the nomination made by you.
Highlights of the scheme…….
  • You must be above 60 years of age to invest in this scheme.
  • Under this scheme, you get an interest rate of 8.1 percent.
  • Investors can invest a minimum of 1 thousand and a maximum of 5 thousand rupees in this scheme.
  • You can invest in this scheme for a total of 5 years.
  • People who are eligible for VRS (Voluntary Retirement Scheme Scheme) can also invest in it.
  • By investing in this scheme, you will get exemption under section 80C of income tax.

You can fill the form offline and submit it to the post office along with the required documents.

PO Senior Citizen Saving Scheme – Helpline

Name of Department and Ministry Department of Posts, Ministry of Communications, Government of India
Address Postal Directorate
Dak Bhawan
New Delhi
customer care toll free number 1800 266 6868

What happens on account closure?

You can close your account before five years after investing in this scheme. If you close the account within one year of investment, you will not get any interest. At the same time, a deduction of 1.5 percent will be made on closing the account within 2 years. At the same time, if the account is closed between 2 and 5 years, 1 percent will be deducted from your total deposit amount.


 What is the interest rate for Post Office Senior Citizen Saving Scheme ?

With effect from April 1, 2023, the interest rate has been increased to 8.1%.

Is Post Office Senior Citizen Saving Scheme available in the post office?

Yes, Post Office Senior Citizen Saving Scheme is available in the post office.

Can I invest Rs 30 lakh in SCSS?

Yes, the maximum amount you can invest in SCSS account is Rs. 30 lakhs can be done.

What is the rate of interest in post office for senior citizens?

8.1% percent –   ​​interest rate in Post Office Senior Citizen Saving Scheme

Disclaimer – PO Senior Citizen Saving Scheme

 The above information regarding Post Office Senior Citizen Saving Scheme is for information only. It is not intended to provide any investment advice. Be sure to consult your financial advisor before investing.

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