Senior Citizen Savings Scheme (SCSS) — 8.2% Guaranteed Returns
CardKhoj Editorial Team 10 min read6 March 2026
Financial Disclaimer
Disclaimer: This information is for educational purposes only. Always consult a certified financial advisor before making any financial decision.
Best Fixed-Income Investment for Retirees
SCSS offers 8.2% per annum (as of Q1 2026), the highest among government-backed instruments. Available at all post offices and major banks, it provides quarterly interest payouts — perfect for regular retirement income.
SCSS vs Other Senior Options
| Feature | SCSS | Bank FD (Senior) | POMIS |
|---|---|---|---|
| Interest Rate | 8.20% | 7.00-7.75% | 7.40% |
| Max Investment | ₹30 Lakh | No limit | ₹9 Lakh (single) |
| Tenure | 5 years (ext. 3) | Flexible | 5 years |
| Tax Benefit | 80C deduction | 5-yr tax-saver only | None |
| Payout | Quarterly | Monthly/Quarterly | Monthly |
Eligibility & How to Open
Age 60+ (55+ for retired govt employees, 50+ for retired defence). Open at any post office or authorized bank (SBI, HDFC, ICICI). Documents: Age proof, Aadhaar, PAN, passport photos. ⚠️ Interest is taxable — but TDS threshold is ₹50,000 for seniors.