The Post Office Senior Citizen Savings Scheme (SCSS) has been a hot topic among investors. It is impressing everyone with the 8.2% annual interest rate it offers. Built for senior citizens, SCSS offers a safe and residential investment opportunity. The essential conditions for investing in this scheme are high interest rates, formality and ease of investment approval.
The initial investment cost is just ₹1,000:
The initial cost of investing in SCSS is only ₹1,000, which is not a huge amount to invest for a common citizen and one can invest as per their budget. The scheme accepts investments up to a maximum of ₹30 lakh with options to suit various financial circumstances.
Although there is an option to invest in a wide range of schemes at different tenures and interest rates in different banks, the interest rate of 8.2% per annum in scss makes it the primary option. There are no high requirements for it and common citizens can easily incorporate it into their financial plans.
Minimum Age Limit 60 Years:
Another notable thing is that the minimum age limit to invest in SCSS is 60 years, so senior citizens can benefit from this scheme. The scheme can be invested for a minimum of 5 years, but if required, it can be extended for another 3 years.
Post Office SCSS offers investors a safe and comfortable investment opportunity with good interest, which can prove to be a golden opportunity for individuals seeking a strong financial position.