Investment under SCSS for more than 1500000

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Investment under SCSS for more than 1500000

I have already invested under SCSS(the maximum). Can I further invest under SCSS in my wife’s name who is not a senior citizen yet. She is a house wife and has no income of her own. I want to invest another 1500000 in her name in SCSS. Is it possible? Please advise

Profile photo of Subodh Chopra Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 7 months, 1 week ago
  • Profile photo of Subodh ChopraAnonymous

    I have already invested under SCSS(the maximum). Can I further invest under SCSS in my wife’s name who is not a senior citizen yet. She is a house wife and has no income of her own. I want to invest another 1500000 in her name in SCSS. Is it possible? Please advise

  • Profile photo of Chetan ChandakChetan Chandak
    Moderator

    Only below persons are allowed to open a Senior Citizen Saving Scheme account.
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  • An individual who has attained the age of 60 years and above on the date of opening of an account.

  • who has attained the age of 55 years or more but less than 60 years and who has retired on superannuation or otherwise on the date of opening an account.

  • who has retired at any time before the commencement of these rules and attained the age of 55 years or more on the date of opening of an account,

  • The retired personnel of Defence Services (excluding civilian Defence employees) irrespective of the above age limits subject to fulfilment of other specified conditions.

  • If  your wife is less than 60 years in age then you will not be able to invest in her name.

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