The Senior Citizens Savings Scheme (SCSS), a government-backed small savings scheme, is one of the most popular investment options among senior citizens looking for regular and predictable income after retirement.
Interest under SCSS is paid quarterly.SCSS is offering an interest rate of 8.2% per annum for the April-June 2026 quarter.
SCSS has a maturity period of five years, making it an attractive choice for those seeking stable returns with low risk.How much should you invest in SCSS to earn Rs 20,000 monthly income?To generate a monthly income of Rs 20,000, a senior citizen would need a quarterly income of Rs 60,000.At the current SCSS interest rate of 8.2% per annum, the required investment to get a quarterly income of Rs 60,000, equal to Rs 20,000 monthly, is approximately Rs 29.30 lakh.
The maximum investment allowed in SCSS is Rs 30 lakh.Desired monthly income: Rs 20,000Annual income required: Rs 2,40,000SCSS interest rate: 8.2% per annumRequired investment = Approximate investment required Rs 29.27 lakhWhen is SCSS interest paid?The SCSS interest is paid every quarter and is credited to the depositor's savings account on April 1, July 1, October 1, and January 1 each year.
The interest is calculated up to March 31, June 30, September 30, and December 31, respectively, as per information on the India Post website.Also read: Rs 10,000 monthly investment in post office RD vs SBI RD: Where will you get higher maturity amount in 5 years?
