Everyone dreams of a safe investment that brings regular income after retirement.
The Post Office Senior Citizen Savings Scheme (SCSS) is one such trusted option designed especially for senior citizens.
It not only keeps your money secure but also gives you a steady monthly income.
If you invest ₹30 lakh in this scheme, you can earn ₹20,500 per month in interest—helping you enjoy a financially stress-free retirement.
Why SCSS Is So Popular Among Retirees
The Senior Citizen Savings Scheme (SCSS) stands out among all Post Office savings plans because of its reliability and attractive returns.
The government currently offers an 8.2% annual interest rate, which is higher than most bank fixed deposits.
You can also enjoy tax benefits up to ₹1.5 lakh under Section 80C of the Income Tax Act, making it a smart option for those looking to save while earning more.
Example of Monthly Income
Here’s how your returns would look:
Investment amount: ₹30 lakh
Interest rate: 8.2% per annum
Annual earnings: ₹2,46,000
Monthly income: ₹20,500
That’s a stable source of income every month—without touching your savings.
Who Can Invest in SCSS?
The scheme is designed to support financial independence after retirement.
The maturity period is 5 years, and it can be opened at any nearby post office branch.
Here’s who can apply:
Senior citizens aged 60 years or above
Government or civil sector employees (55–60 years) who have taken voluntary retirement
Retired defense or security personnel (50–60 years)
You can open a single or joint account, depending on your preference.
Rules for Early Account Closure
If you wish to close the account before maturity, here’s what to know:
Before 1 year: No interest will be paid
Between 1–2 years: 1.5% deduction from interest
Between 2–5 years: 1% deduction from interest
Bottom Line
The Senior Citizen Savings Scheme is one of the safest and most rewarding options for retirees who want a steady monthly income with government-backed security.
With high interest rates and tax benefits, it’s a solid choice to keep your post-retirement years financially comfortable.
