What is the upper investment limit under the Senior

Solution

  Senior Citizens' Saving Scheme (SCSS) - As the name suggests, only senior citizens or early retirees can invest in this scheme. SCSS can be availed from a post office or a bank by anyone above 60 .   

• It is a risk free tax saving investment option.   
• SCSS has a five-year tenure, which can be further extended by three years once the scheme matures.   
• The minimum deposit is Rs.1,000 and the  upper investment limit is Rs 30 lakh.    
• The interest rate on SCSS is payable quarterly and is fully taxable