The Economic Times

Rs 7 lakh investment in SCSS vs SBI senior citizen FD: How much quarterly amount can senior citizens get for 5 years in each scheme?

Senior citizens often invest in Senior Citizens Savings Scheme and SBI fixed deposits for income. SCSS offers an 8.2% interest per annum with quarterly payouts, beneficial for regular cash flow. In contrast, SBI's senior citizen fixed deposit provides a lower rate of 7.05% with less frequent interest payouts. An investment of Rs 7 lakh in SCSS yields higher returns compared to the SBI fixed deposit.