The senior citizens savings scheme scss offers regular income, highest safety and tax saving, making it a popular. To cover all sections society under benefit programmes, the government of india launched this scheme in the year 2004. Senior citizen savings scheme scss interest calculator daily. The senior citizen saving scheme calculator has all the twelve months given out separately with a box next to each of them. Senior citizen saving scheme can be opened in any public private sector bank and post office. This video may not be downloaded or distributed in any. Post office senior citizen saving scheme also gives a tax benefit to. The deposit matures after 5 years from the date of account opening but can be extended once by an additional 3 years. Home loans personal loans auto loans education loan loans against securities gold loan consumer durable loans calculators.
Senior citizens savings scheme matures at the end of five years from the date of deposit. Senior citizen savings scheme scss is a governmentsponsored savings scheme for senior citizens. Senior citizens savings scheme saves tax, beats bank fds. Saving account interest calculator senior citizen saving scheme calculator ppf calculator sukanya samriddhi yojana calculator epf calculator national pension scheme nps calculator. Withdraw the amount by filling up form e and submit the same along with passbook. Senior citizens savings scheme scss is a governmentbacked savings instrument offered to indian residents aged over 60 years. Calculating maturity amount and interest earned using daily tools senior citizen savings scheme scss calculator is very simple. The scheme can be extended by 3 years after maturity by submitting. Senior citizen savings scheme scss is one of best investment tool for senior citizens by government of india. Scss senior citizens savings scheme is an excellent investment for senior citizens as its safe guaranteed by government of india, pays guaranteed interest. The senior citizens savings scheme scss is primarily for senior citizens of india that offers regular income. Nps ppf capital gains account gold banking senior citizens savings scheme sukanya samriddhi account scheme 2019. Post retirement, people are looking for investment avenues to park their retirement corpus in.
Senior citizen saving scheme account can be opened in post office. The primary objective of the scheme is to provide financial support to retirees in terms of ensuring a regular flow of income. Senior citizen saving scheme all details for the year 2020 is available here. The senior citizen savings scheme is a governmentsponsored saving instrument which is meant for senior citizens aged 60 and above. Senior citizens application form is available via the offline route at india post offices as well as via. The senior citizen saving scheme calculation is based on the current rate of interest decided. The senior citizens savings scheme offers regular income, highest safety and tax saving, making it a popular product for those over 60 years of age. Asba demat services power demat equity fund scheme. All calculators have interest rates updated since 2011 upto government of india, ministry of finance notification f. The senior citizens savings scheme scss was launched with the main aim of providing senior citizens of the country a regular income after they attain the age of 60 years old.
However, if a citizen between the age group of 5560, willingly retires under voluntary retirement scheme vrs or superannuation, heshe can also avail the senior citizen saving scheme scss. Senior citizen savings scheme scss 2019 calculator and. They are hesitant to put their hardearned money in equities, which carry capital loss risk, or products which come with a long lockin period and dont. Know more details about senior citizen saving scheme. Fd calculator senior citizens can calculate the maturity amount of their fd. Senior citizen saving scheme 2020 scss scheme calculator. Tax implications of scss or senior citizen savings schemes tax benefit.
The senior citizen saving scheme interest calculator is a user friendly tool which allows you to calculate the total interest that is generated on your deposit in the savings scheme. Online calculators for calculating accrued interest, maturity amount, interest payable etc. Senior citizen savings scheme scss interest calculator. This video may not be downloaded or distributed in.
Dailytools senior citizen savings scheme scss interest calculator is very useful utility for calculating maturity amount and interest earned. Calculate the interest earned and the amount of post office recurring deposit you will accumulate using. Senior citizen savings schemes to protect your money after retirement. The scss account holder may deposit a minimum rs and maximum rs 15 lakh. Check senior citizen saving scheme 2020 revised interest rate and download scss application form to open bank account. There are a number of savings schemes that help senior citizens to continue maximizing returns on their life savings and ensure that they have a regular and consistent stream of income even if they have stopped getting a regular pay cheque.
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