Senior Citizen Savings Scheme vs high interest rate bank FDs: Where should you invest?

The interest rate on SCSS was revised from 7.4% to 7.6% which is at present the highest interest rate offered by a small savings scheme. Many smaller private sector banks and small finance banks are now offering FD interest rates high as 9%. Rise in FD interest rate is expected to continue in next few months. Will SCSS remain competitive to FDs or should you prefer FDs now.

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