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  • Financial Express

Disadvantages of Senior Citizen Savings Scheme (SCSS): 5 limitations you should know before investin

Top 5 disadvantages of Senior Citizen Savings Scheme (SCSS): While there are several advantages of investing in Senior Citizen Savings Scheme (SCSS) for senior citizens, there are some disadvantages or limitations that you should also know before investing in this scheme offered by banks and Post Office in India.

TDS on SCSS interest: Unlike schemes like PPF in which everything is tax-free, the interest earned from SCSS deposits becomes taxable if it exceeds the Rs 50,000 limit in a financial year.

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