SCSS vs MIS interest calculation on Rs 5L investment
Synopsis Senior Citizens Savings Scheme offers a higher interest rate than the Post Office Monthly Income Scheme. An investment of five lakh rupees in SCSS
Synopsis Senior Citizens Savings Scheme offers a higher interest rate than the Post Office Monthly Income Scheme. An investment of five lakh rupees in SCSS yields approximately forty-one thousand rupees annually. The Post Office Monthly Income Scheme provides nearly thirty-seven thousand rupees in annual interest. SCSS offers tax benefits on principal investment under Section 80C of the Income Tax Act.
The BriefWire