Senior Citizen Savings Account: UPSC Daily Important Topic | 9 July 2022

July 9, 2022

Senior Citizen Savings Account

✓ the 5-year Senior Citizen Savings Account can be opened by anyone who is over 60 years to age.

✓It carries an interest of 7.4% per annum payable quarterly and qualifies for Section 80C tax benefit.

✓These time-tested and safe modes of investments don’t offer quick returns, but are safer when compared to market-linked schemes.