Income tax saving ideas: With 8.2% interest, Senior Citizen Savings Scheme (SCSS) is better bet to save tax than senior citizen FDs
Senior Citizen Savings Scheme vs tax-saving fixed deposits: Senior citizens often go for fixed deposits, considering the safety and fixed return. Elderly investors are in for a sweeter deal this year as they can get an attractive fixed return on the Senior Citizen Savings Scheme (SCSS). Is SCSS a better option for senior citizens than tax-saving fixed deposits? Probably yes. But before you invest, let's compare the features and benefits of SCSS and five-year tax-saver fixed deposits (FDs).
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