E-Paper
Budget 2023: Upper deposit level for senior citizens' saving scheme increased
FM Sitharaman announced increasing the maximum deposit level of Senior Citizens' Saving Scheme from ₹15 lakh to ₹30 lakh.
Updated on: Feb 1, 2023, 12:51:20 IST
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Union finance minister Nirmala Sitharaman on Wednesday announced enhancing the maximum deposit level of Senior Citizens' Saving Scheme (SCSS) from ₹15 lakh to ₹30 lakh. She also announced enhancing the maximum deposit limit for Monthly Income Accounts Scheme from ₹4.5 lakh to ₹9 lakh for single accounts, and ₹9 lakh to ₹15 lakh for joint accounts.
UNION BUDGET 2023: FULL COVERAGE
The enhancement in the maximum deposit limit signifies that the Centre has increased the interest rate for SCSS by 20 bps from earlier 7.4% to 7.6%.
