Why Meera's premature SCSS exit cost her Rs 10,000

Summary: Thinking of withdrawing from your SCSS before maturity? Read the fine print before you decide. When Meera turned 60, she began shifting her savings into safer avenues. Like many retirees, she was looking for a predictable income with minimal risk. Fixed deposits (FDs) felt underwhelming, while a bank savings account made little sense. That’s when she heard about the Senior Citizen Savings Scheme (SCSS). It promised an attractive 8.2 per cent annual return, paid quarterly, backed by the government. What’s more, it also offered regular payouts. SCSS felt like the best of both worlds: security and

This article was originally published on July 26, 2025.