Question
What is the upper investment limit under the Senior
Citizens' Saving Scheme ? ÂSolution
 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 . Â
- It is a risk free tax saving investment option. Â
- SCSS has a five-year tenure, which can be further extended by three years once the scheme matures. Â
- The upper investment limit is Rs 15 lakh. Â Â
- The interest rate on SCSS is payable quarterly and is fully taxableÂ
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