Post Office Scheme: This scheme Post Office is best for senior citizens, you will earn ₹ 12,30,000 from interest only in 5 years..
Senior Citizens Savings Scheme: After retirement, the elderly do not have any solid source of income. They have a lifetime capital i.e. retirement fund which they use according to their convenience and invest in various places so that their money keeps growing over time. Most of the elderly do not like to take any kind of risk in terms of investment. They like to invest in such schemes from where they can get guaranteed returns.
For such elderly, such a scheme is run in the Post Office, in which they are given a good interest. The name of the scheme is Senior Citizen Savings Scheme. Through this scheme, if the elderly want, they can earn ₹ 12,30,000 rupees only from interest. Know how-
Know how much interest is being received.
Post Office's Senior Citizen Savings Scheme is a deposit scheme. In this, a fixed amount is deposited for 5 years. Senior citizens can invest up to Rs 30,00,000 in this scheme, while the minimum investment limit is Rs 1000. Currently, SCSS is getting interest at the rate of 8.2 percent.
This is how you will get interest of ₹ 12,30,000
As we told you, you can deposit up to a maximum of Rs 30,00,000 in this scheme. If you invest this much amount in this scheme, then in 5 years you will get interest of Rs 12,30,000 at the rate of 8.2%. Every quarter, ₹ 61,500 will be credited as interest. In this way, after 5 years, you will get a total of ₹ 42,30,000 as maturity amount.
If you deposit Rs 15 lakh in this scheme for 5 years, then according to the current interest rate of 8.2 percent, you will get Rs 6,15,000 in 5 years as interest only. If you calculate the interest every quarter, then you will get Rs 30,750 interest every three months. In this way, by adding Rs 15,00,000 and the interest amount of Rs 6,15,000, you will get a total of Rs 21,15,000 as the maturity amount.
Who can invest
Any person whose age is 60 years or more can invest. On the other hand, government employees of the civil sector taking VRS and people retiring from defense are given relaxation in age limit with some conditions. The scheme matures after 5 years. If you want to continue the benefits of this scheme even after 5 years, then you can extend the account period for three years after the deposit amount matures. This can be extended within 1 year of maturity.