What is the Senior Citizen Savings Scheme / Senior Citizen savings scheme/ SCSS/ senior citizen/ Best law firm in Coimbatore/ Best advocates in Coimbatore/Best law service in Coimbatore/ Best legal consultation in Coimbatore/ Best legal services in Coimbatore/ Best lawyers in Coimbatore/ Online legal consultation. The Senior Citizen Savings Scheme or SCSS is a government-backed savings scheme for senior citizens in India. It provides an attractive rate of interest, tax benefits, and a range of other features. The scheme was started by the Government of India in 2004, and the interest rate is revised every quarter. The Senior Citizen Savings Scheme designed to provide individuals aged 60 and above with a guaranteed return on their funds. It offers an interest rate of 8.6% on deposits up to Rs 15 lakhs, and the funds can be withdrawn after a minimum lock-in period of five years. The scheme also provides tax benefits, and the deposits are protected by the Deposit Insurance and Credit Guarantee Corporation or DICGC. At Saanvika Legal Associate, other laws cases like business law, financial law, insurance law, environment law, consumer law, property law, banking, tax, cyber, labour, constitutional, legal registration, nocs, litigations, criminal, family law, and so on are provided.