SCSS accounts lose 8.2% rate, drop to 4% POSA if not extended within a year of maturity
Senior Citizens' Savings Scheme accounts left unextended past the one-year maturity window revert from 8.2% p.a. to the 4% Post Office Savings rate. November 2023 amendment permits unlimited 3-year extensions via Form-4, but partial extensions remain barred and no penalty applies beyond the opportunity cost.
SCSS accounts not extended within one year of maturity stop earning 8.2% and revert to 4% Post Office Savings rate. No penalty, but opportunity loss. Post-2023 rules allow unlimited 3-year extensions via Form-4; partial extensions barred.