News From Press Why Senior Citizen Savings Scheme makes sense even now? Check features, interest rate, withdrawal details

Why Senior Citizen Savings Scheme makes sense even now? Check features, interest rate, withdrawal details

Since the deposits under SCSS earn you higher returns than those generally available under other comparable safe investment avenues, it should be the first choice of senior citizens who want risk-free returns on their investments.

The Financial Express Jul 13, 2020

All retired senior citizens are finding it difficult to meet both their ends due to the double whammy of constant inflation accompanied with reducing interest rates all around. The interest rates offered by banks on fixed deposits have come down to around 6%. Though the private banks and corporate offer higher rates, they cannot risk their limited resources there. In such an environment, government-guaranteed Senior Citizen Savings Scheme (SCSS) offers a better alternative.

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1 Comment

Vishakha P. Sheth · 3 years ago `

Re: SENIORs and Small savings interest rates, please compare interest rate of upward of 7% on PMVVY scheme promoted by LIC ; Of course the duration of such savings will have to be for a longer period - CAFE MUTUAL is also requested to get article on PMVVY published for benefit of investors

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