The Budget 2023 has brough some good news for senior citizens. The maximum investment limit of Senior Citizen Savings Scheme (SCSS) has been increased from Rs 15 lakh to Rs 30 lakh now.
With the doubling of SCSS limit to Rs 30 lakh, a retired senior citizen couple can now invest up to Rs 60 lakh in SCSS schemes together at reasonably good rates (currently at 8.0%).
Further Readings –
Can SCSS account be Renewed After Maturity?
Can a new SCSS account be opened after maturity?