Senior Citizens Savings Scheme (SCSS)

URI: https://gptkb.org/entity/Senior_Citizens_Savings_Scheme_(SCSS)
GPTKB entity
Statements (30)
Predicate Object
gptkbp:instanceOf Government savings scheme
gptkbp:accountClosureOnDeath Allowed
gptkbp:age 60
gptkbp:availableOn Post offices
Designated banks
gptkbp:benefit gptkb:Section_80C_of_Income_Tax_Act
gptkbp:country gptkb:India
gptkbp:firstReleased 2004
https://www.w3.org/2000/01/rdf-schema#label Senior Citizens Savings Scheme (SCSS)
gptkbp:interestPayoutFrequency Quarterly
gptkbp:interestTaxability Interest is taxable
gptkbp:launched gptkb:Government_of_India
gptkbp:mainInterest 8.2% (as of 2024)
gptkbp:maturityOptions Withdraw or extend
gptkbp:maximumLoanAmount Not available
30 lakh INR
gptkbp:minimumAgeForRetiredDefensePersonnel 55
gptkbp:minimumInvestment 1000 INR
gptkbp:multipleAccountsAllowed Yes, within maximum limit
gptkbp:nominationFacility Available
gptkbp:prematureWithdrawal Allowed with penalty
gptkbp:targetAudience Senior citizens
gptkbp:targetUser Individual
Joint (with spouse only)
gptkbp:TDSApplicable Yes, if interest exceeds threshold
gptkbp:tenure 5 years
gptkbp:tenureExtension 3 years
gptkbp:transferability Not transferable
gptkbp:bfsParent gptkb:Section_80C_of_Income_Tax_Act
gptkbp:bfsLayer 7