Enhancement Of Investment Limit For Senior Citizen Savings Scheme

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Senior Citizen Savings Scheme (SCSS) is one of the safest options of investment. It is offered by Govt. Of India.

Some of the highlights of this scheme are as given below –

1.      Maximum investment can be made is Rs. 15lakhs.

2.      Tenure is 5 years, can be extended for further period of 3 years.

3.      Minimum interest option is quarterly.

My request for amendment of SCSS is as given below –

1.      Maximum investment limit to be enhanced to Rs. One crore or total retirement benefit, whichever is less.

2.      Tenure to be enhanced up to 10 years, can be extended up to further 10 years or till the death of depositor.

3.      Minimum interest option may be amended to monthly.

 

Sir, the above said amendments may give benefits to senior citizens like not to move for various schemes in search of higher interest rates and trapped in by depositing hard earned retirement benefits. Moreover, senior citizen may get respectable amount of money for their livelihood with mental piece and dignity from one source.

Finance minister of India is requested to please look in to it and consider it as early as possible.

 

 



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