evidence: The current interest rate offered by this senior citizen scheme is 8.2%. These rates are reviewed every quarter, with the last review being March 31, 2021. This new rate applies solely to new deposits from that date, not to already existing ones. While SCSS rates of interest are open to being revised every quarter, these changes will not apply to already-enrolled investors. New rates of interest only apply to newer investors of a particular quarter. [...] At the time of opening, this investment plan for senior citizens was offered at an interest rate ranging between 8% to 8.3% per annum. This range became more specific, depending on what the investor chose for the payout period – monthly, quarterly, half-yearly, or yearly. The Union Budget of 2018-19, however, revised the interest lower to 7.4% for 2020-21, as it also extended the scheme for 3 years. [...] If you are keen to invest in the Pradhan Mantri Vaya Vandana Yojana for your retirement security, you just need to approach LIC – the only institution that offers this plan. Both offline and online options to open this account are currently available to you.