How much do senior citizens need to invest in SCSS to earn ₹25,000 every quarter?
The Senior Citizens' Savings Scheme (SCSS) is a government-backed scheme for individuals aged 60 years or above. At the current interest rate of 8.2% per annum, an investment of around ₹12.2 lakh would generate approximately ₹25,010 per quarter before tax. Once an SCSS account is opened, the interest rate applicable to the deposit remains fixed throughout the five-year tenure.
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