Current Affairs - Finance - Discussion

The Senior Citizens Savings Scheme (SCSS) offers an attractive annual interest rate of 8.2%, providing retirees with a reliable source of income. Eligible individuals aged 60 and above can invest up to Rs 30 lakh in this scheme, which has a maturity period of up to five years. The SCSS can yield up to Rs 20,000 in monthly income, making it a popular choice for those seeking financial stability post-retirement. However, the income generated from this scheme is taxable.