Many people worry about how they will manage their finances after retirement.
The good news is that the Post Office Senior Citizens Savings Scheme (SCSS) can help reduce this stress.
This is a government-backed savings plan designed especially for senior citizens, offering safe and regular income after retirement.
If you invest in this scheme, you can earn up to ₹20,500 per month, making it one of the best options for those planning their post-retirement income.
The scheme is open to people aged 60 years and above, and also to those who have retired between 55 and 60 years under certain conditions.
Earn ₹20,500 Monthly with 8.2% Interest Rate
The SCSS currently offers an annual interest rate of 8.2%.
For example, if you invest ₹30 lakh, you will earn ₹2.46 lakh per year as interest.
When divided monthly, about ₹20,500 will be credited to your bank account each month.
This monthly amount can serve as a steady pension, helping you cover your daily expenses without any financial worries.
It ensures that even after retirement, you continue receiving a fixed income every month.
Increased Investment Limit and Tax Details
Earlier, the maximum investment limit in SCSS was ₹15 lakh, but it has now been increased to ₹30 lakh.
This allows investors to earn more interest by depositing a higher amount.
You can open your SCSS account at any post office or authorized bank easily.
The principal amount you invest is safe and secure, while the interest earned is taxable.
Hence, it’s important to understand the tax rules before investing.
For senior citizens aged 80 years or above, the TDS (Tax Deducted at Source) limit may differ slightly.
Despite this, the scheme remains one of the most reliable and secure options since it is backed by the Government of India.
Key Highlights:
Minimum age: 60 years (55 for retirees under special conditions)
Interest rate: 8.2% per annum
Maximum investment: ₹30 lakh
Monthly income example: ₹20,500 (on ₹30 lakh investment)
Safe and government-backed investment
