Sr citizen saving scheme

This query is : Resolved

Asim Kumar Das (Querist)
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21 March 2016 Respected Sir,

One individual Sr Citizen has invested Rs.15 lakh with SBI in Sr.Citizen Saving Scheme @9.3% .
Can he also invest another Rs. 15 lakh with Indian Post Office S C S Scheme. ?
Please send me the clarification and oblige.
With Regards,
Yours Sincerely,
Asim Kumar Das

Asim Kumar Das

Asim Kumar Das (Querist)
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01 April 2016 Please answer the query
Thanks
Asim Kumar Das

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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25 July 2025 Hello Asim Kumar Das,

Regarding your query on investments in the Senior Citizen Savings Scheme (SCSS):

* **Yes**, an individual senior citizen can invest **up to Rs. 15 lakh in SCSS per person**, but **this limit is aggregate across all institutions**—meaning **the total investment limit of Rs. 15 lakh applies whether you invest through SBI, Post Office, or any other authorized bank or post office.**

* So, if your senior citizen has already invested Rs. 15 lakh in SCSS with SBI, **he cannot invest an additional Rs. 15 lakh in the Post Office SCSS**, as that would exceed the maximum permitted limit.

### Key points:

* The maximum amount eligible for investment in SCSS is **Rs. 15 lakh per individual**.
* The investment can be done in one or multiple institutions, but the **aggregate should not exceed Rs. 15 lakh**.
* The current interest rate on SCSS is around 9.3% (subject to periodic revisions by the government).

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**Summary:**
If Rs. 15 lakh is already invested with SBI in SCSS, no further SCSS investment is allowed in Post Office or elsewhere for the same individual.

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If you want, I can also help with info on other senior citizen investment schemes or tax benefits related to SCSS.

Would you like that?

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