FM Proposes To Double Senior Citizens Saving Scheme (SCSS) Deposit Limit

Senior Citizen Savings Scheme (SCSS) maximum investment limit has been increased from Rs 15 lakh to Rs 30 lakh in Budget 2023. "The senior citizens saving scheme will be extended for a deposit account of Rs. 30 lakh from Rs. 15 lakh, announces Finance Minister Nirmala Sitharaman," she announced. She also announced enhancing the maximum deposit limit for Monthly Income Accounts Scheme from Rs 4.5 lakh to Rs 9 lakh for single accounts, and Rs 9 lakh to Rs 15 lakh for joint accounts.