The government has maintained interest rates for small savings schemes for October-December (Q3FY26), keeping returns unchanged. For senior citizens looking for a steady post-retirement income, the Post Office Senior Citizens Savings Scheme (SCSS) remains a viable option. Currently, the scheme offers an annual interest of 8.2%, paid quarterly. For example, an investment of Rs 30 lakh can generate up to Rs 61,500 every three months, which translates to Rs 20,500 per month. Investment limits and returns Maturity and Extension Tax Benefits Investors can claim a deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act, reducing their taxable income. Compounding Advantage If interest is not withdrawn, a Rs 30 lakh investment can grow to Rs 42 lakh over five years due to compounding. Eligibility The SCSS scheme provides senior citizens with safe, government-backed returns, regular income, and tax savings, making it an attractive post-retirement investment option. Disclaimer: This report is for informational purposes only. Investors should consult financial experts before making investment decisions. Post navigation India raises a glass; cheers to Diwali!:People spend extravagantly to consume alcohol during the festive season Build large fund easily through Post Office RD:Earn 6.7% annual interest; here’s what you need to know about benefits
