How much can I invest in SCSS?

I am planning to invest in the Senior Citizens' Saving Scheme (SCSS) for regular income. What's the maximum I can invest? - Anonymous

Under the current rules, an individual can invest up to Rs 30 lakh in the Senior Citizens' Saving Scheme (SCSS). This limit was increased from Rs 15 lakh in the 2023 Union Budget, giving retirees greater scope to earn steady, government-backed returns on a larger portion of their savings.

However, if both you and your spouse are senior citizens, you can open separate SCSS accounts, each with a maximum investment of Rs 30 lakh. To ensure full benefit, each person must be the primary holder of their own account. You may choose to add the other as a joint holder, but the limit is always counted in the name of the first applicant. This setup allows a household to invest up to Rs 60 lakh across two accounts.

At the current interest rate of 8.2 per cent, this combined investment can generate a guaranteed income of about Rs 4.92 lakh per year, or roughly Rs 41,000 per month — making SCSS a highly dependable option for retirees seeking regular income without market risks.

SCSS interest rates are reviewed every quarter, with the next update expected by the end of March. The revised rates, if any, will apply from April 1 for new investments made in the following quarter. However, once you open an SCSS account, the interest rate applicable at the time of investment remains locked in for five years. For instance, if you invest in March 2025 at 8.2 per cent, you will continue to receive that rate until March 2030 — even if rates are lowered later for new investors.

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This article was originally published on March 24, 2025.