Do you intend to cave in a perfect tool that eases up your old age and helps you walk tall with your head held high? SCSS can do that for you when you turn out to be the senior citizens of the society. Let’s delve deep into what you should know about SCSS to make your old age worth living.
Senior members of the society need a perfectly balanced lifestyle which should be sans all sorts of hindrance and fiscal anxieties. As matter of fact, it is the precise phase in their lives when they need everything to settle down in a pitch perfect manner. This is where SCSS is going to be of much use to you as a senior member of the society. SCSS is also known as the senior citizen saving scheme, which appears to be the best friend of an aged person.
Every senior citizen who is a permanent resident of India does have the right to get profits out of this highly popular investment vehicle. If the discussion concerns a befitting and profitable investment portfolio for you in the present scenario then the name of SCSS should pop up in your mind along with other veritable or reliable options such as PPF, high yielding mutual funds, Sukanya Samriddhi, NSC etc.
What is SCSS Scheme?
If You are a senior member of the society, you can get the assurance of the use Scss scheme. It is a powerful tool for the aged persons which they can use in their old age and they can have a pretext to make their lifestyle more secure and pleasant. The first thing that attracts many people towards the scheme is the ease of handling the scheme. It is in fact one of the biggest things related to your personal finance for sure.
Who are eligible for the beneficial scheme?
Those individuals who have attained 60 years of age will be considered eligible to apply for this fantastic facility and avail themselves of an aura of safety and security at an infirm stage of their life. Thus, it is evidently no less than a good samaritan in the life of every senior member of the society.
The Value Quotient Of SCSS
If you come to look at the market scenario in terms of the returns you get out of your investment vehicles, these options do stand out loud even in the midst of thousands of other investment potpourri. While talking about the value quotient associated with these investment options, one needs to understand that it is aspect of guaranteed returns that actually triggers profuse zeal about these products. There is one single word that spells the nature of these products and that word is ‘trust’.
How Much Can You Invest in SCSS?
If you are a single SCSS account holder then you are going to be entitled with the optimum range of 15 lakh. However, if you intend to open this account jointly with your spouse then the best margin that you can look forward to is 30 lakh for sure. In both the cases, it is like a win-win situation for you.
Also Read: Post Office Saving Schemes
Interest Rates Associated With SCSS
SCSS does step forward as a productive option for sure in terms of interest rates. Standing in a scenario, where you get to envision interest rates dropping like hell, SCSS emerge like a shining star that regales your senses with no less than 8.5 %. Isn't that great?
Some Crucial Benefits of SCSS Scheme
As you opt for the scheme, you get entitled to enjoy an array of benefits for sure. They are as follows-
Where Should You Look For The Best Deals?
There is no denying that you will be able to get entitled with a bounty fiscal profit margin provided you choose your steps in a level headed nanner. It is good for you to keep faith in nationalized banks as well as other organizations which have got sufficient backup of government aid. If you intend to add up some precision in your search for the best deals you can look for a financial adviser.
Senior Citizen Saving Scheme Calculator
A number of financial organizations are offering this facility for the senior persons of the society. Day in and day out, this ratio is increasing with a galaxy of new financial service providers joining in this bandwagon. It is not inapt or strange on your part to get flabbergasted or confused considering which particular institute you should choose as your trusted fiscal partner. In the midst of such confusion a senior citizen saving scheme calculator is truly going to come handy. You can proficiently use this calculator and decide which service provider is going to provide you with the best value for your money. You can use the calculator to do the math in terms of the being provided.
One Thing to Keep In Your Mind
If you happen to be an investor and if you intend to avail the benefits of SCSS, then you will need to furnish yourself with the precise information about your earning potential which would make you eligible for this option. If you have to get the benefits of this scheme then scheme you need to showcase that you earn at least 10625 Rs per month. This earning bracket is a must for every senior citizen of India who wants to invest in SCSS.
Considering all the aspects of SCSS covered in this petite discussion it would not be inappropriate to state that it is a dire necessity for the aged members of the society. It is coupled with both lucrative benefits and security. In the midst of present circumstances you can definitely treat SCSS as an epitome of optimism.
After reading this article if you have already added up some amount of planning in this regard then you have just done the right thing.