SCSS at Post Office vs Bank - Which to Choose?
SCSS rates are identical whether you open at a post office or an authorized bank - both give 8.2% quarterly. Post Office SCSS: more branches, government operated, slightly slower service. Bank SCSS (SBI, PNB, etc.): online account management, integration with bank account for auto-credit of interest, better customer service in urban areas.
Quarterly Payout
₹30,750
Annual Income
₹1,23,000
Total Interest (5 yrs)
₹6,15,000
SCSS rate: 8.2% p.a. (Q1 FY 2026-27). Max deposit ₹30L. Tenure: 5 years (extendable by 3). Interest paid quarterly. TDS applicable if interest exceeds ₹50,000/year.
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