Skip to main content

Senior Citizen Savings Scheme Interest Rate 2023

Senior Citizen Savings Scheme Interest Rate 2023 & New Changes

The Government of India (GOI) has announced the new interest rate for the small savings scheme that is made effective from April 1, 2023. 
Senior Citizen Savings Scheme Interest Rate 2023 - The government has also increased the rate of interest for senior citizens from 8% to 8.20% in this small savings scheme. This is applicable for the January to March 2023 quarter. This scheme is known as the Senior Citizens Saving Scheme (SCSS) for which interest rates are higher now.

Senior Citizens Saving Scheme (SCSS): New Changes

Apart from the hiking of SCSS interest rates, the maximum deposit limit has also been increased. Union Finance Minister Nirmala Sitharaman in her budget presentation for the financial year 2023-2024 also said that the highest deposit rates on SCSS will be doubled from 15 lakhs to 30 lakhs. 

The small savings scheme interest rate is significantly higher than the PPF interest rate of 7.10% and FDO interest rate of 7%. Hence, if a senior citizen wants to invest in a tax-saving instrument, they can choose the SCSS, which has a maturity period of five years with the facility for premature withdrawal. The SCSS interest is paid quarterly on March 31, June 30, September 30, and December 31 of each fiscal year.

Senior Citizens Saving Scheme (SCSS): Eligibility

Citizens of India above the age of 60 can create a Senior Citizens Saving Scheme (SCSS) account at their local bank or post office.

An individual who is over the age of 55 but before the age of 60 and has retired on superannuation is entitled to register for the SCSS account.

SCSS account depositors can make an initial single deposit.

Cash deposits are allowed for amounts less than one lakh, but check deposits of one lakh or more are permissible, with the deposit date beginning with the cheque's realisation date.

Recent Posts

Popular posts from this blog

Nagarhole National Park Safari Booking Online

Nagarhole National Park Safari Booking Online There is good news for all wildlife enthusiasts and tourists who were appealing to the forest department to introduce online ticket booking system for safari in the Nagarahole national park. All wildlife enthusiasts and tourists wishing and requesting the forest department to begin online ticket booking system for safari in the Nagarahole national park would be happy to know that Nagarhole safari booking online is now active and fully operational. Nagarhole Safari Ticket Booking has been started to bring in more transparency as well as facilitating tourists to plan and book tickets for their safari in advance. It was a demand from the people at large, mostly from Bengaluru, Karnataka and neighbouring states like Kerala and Tamil Nadu who quite often visit the Nagarhole national park to start the online ticket booking system. Nagarhole National Park  Nagarahole (or Nagarhole) name is derived from a windy river named Nagara Ho

Calangute Panchayat House Tax Payment

Calangute Panchayat House Tax Payment MAPUSA: The Calangute Panchayat launched its website for providing online services to the people of the village. Calangute Panchayat was launched by MLA Michael Lobo in presence of Sarpanch Anthony Menezes, Panchas and HDFC bank officials. With , citizens of Calangute can now download different forms, track stray cattle and garbage collection along with making online payments such as pay house tax Calangute . Sarpanch Anthony Menezes said that now people can pay Calangute house tax online even if they are outside India. All forms that are needed can be downloaded from the official website of Calangute Panchayat and submitted. Manezes also informed “Mini chips will be inserted in cattle's body so that they can be tracked easily. The cattle registration with its owner details would be done with the Calangute panchayat . Thus owners could track their cattle and people can also identify a

JKPDD Bill Sahuliyat Payment, Jammu and Kashmir Electricity Bill Payment

JKPDD Bill Sahuliyat Payment, Jammu and Kashmir Electricity Bill Payment How to Pay JKPDD Electricity Bill Otnline in Jammu and Kashmir? Power Development Department (PDD) is one of the Department of Jammu & Kashmir State Government which takes care for all functions related to transmission and distribution of electric power in the state. The generation sector is looked after by J&K State Power Development Corporation (JKSPDC), which was carved out of PDD in the year 1995. Jammu and Kashmir State comprises of three geographically and climatically distinct regions viz; Arctic cold desert areas of Ladakh, temperate Kashmir Valley and subtropical region of Jammu. Pay Electricity Bill Using JKPDD Website Visit the official website of JKPDD here - Under Customer Services at the left of the screen, hover your mouse on Bill Payment link and click Make Payment. This url opens - You can quickly pay electricity bill online Jammu