Sr citizen saving scheme

This query is : Resolved

Asim Kumar Das (Querist)
Follow

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)
Follow

01 April 2016 Please answer the query
Thanks
Asim Kumar Das

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

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).

---

**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.

---

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?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RADHAKRISHNAN A R

madhuseshu yathirajam

Ashif Cheenikkal

SHRI HARIRAO

J.Vijai

Subscribe Now

Sr citizen saving scheme

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANT

GST CONSULTANCY

CA Final

Senior Executive

Manager- Finance and Compliance