SCSS Withdrawal Rules: Everything You Need to Know
The Senior Citizen Savings Scheme (SCSS) offers secure investment options for individuals aged 60 and above. While the scheme ensures steady returns, understanding its withdrawal rules is crucial. Premature withdrawals are allowed after one year, subject to penalties. In case of the investor’s demise, the account can be closed without penalties, with the balance paid to the nominee. Adhering to SCSS withdrawal rules ensures financial security and compliance, safeguarding your retirement savings.
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