Post Office Schemes: You can earn 82 thousand rupees by investing in post office schemes only through interest, check interest rates..

Post Office Schemes: It is difficult to achieve a big financial goal, like buying a house or a car, with just a salary. A lot of money is needed for this. Many people resort to a Systematic Investment Plan (SIP) in mutual funds to achieve their future goals. SIP is an effective way to invest small amounts regularly, which can create a large fund over time.

At the same time, some people also think that they do not have to take risks and can get a large amount. Government schemes can be useful for such people. We are telling you about one such scheme, which is operated under the Post Office Small Savings Scheme. You can open it at your nearest post office.

The scheme we are talking about. It can make you earn a lot of money only from interest. If you stay invested in it for five years, then you can earn more than 82 thousand rupees only from interest. Let's know about this scheme-

This scheme of the post office is great

Senior Citizen Savings Scheme (SCSS) is a great government-backed scheme specially designed for senior citizens. In this, you can get a regular and good income by depositing a lump sum amount. This scheme is a great option to gift to your parents or grandparents, which will provide them with financial security.

This scheme is open to people aged 60 years or above. The minimum investment for this scheme is Rs 1000, and the maximum investment limit is Rs 30 lakh. The maturity period under this scheme is for 5 years, but if you want, you can extend it for another 3 years. Talking about interest, 8.2 percent interest is given under this scheme. Its interest is fixed every quarter, and interest is released on an annual basis.

Who can open an account?

Any senior citizen of India can open this account, whether alone or jointly. Retired civilian employees aged 55 to 60 years and retired defense personnel aged 50 to 60 years can also invest in it. However, it is mandatory to invest within one month of receiving retirement benefits.

What will happen if the account is closed prematurely?

Under this scheme, tax exemption is available on an annual investment of up to Rs 1.5 lakh under 80C. On the other hand, if you close the account prematurely, the following consequences can occur.

- The account can be closed prematurely at any time after the date of opening.

- If the account is closed before 1 year, no interest will be available, and if any interest is paid in the account, it will be recovered from the principal.

- If the account is closed after 1 year but before 2 years from the date of opening the account, an amount equal to 1.5% will be deducted from the principal.

- If the account is closed after 2 years but before 5 years, an amount equal to 1 percent will be deducted from the principal.

- The extended account can be closed after the expiry of one year from the date of extension of the account without any deduction.

Earning of 82 thousand from interest-
If someone invests a lump sum of Rs 20 thousand in this scheme, then he will get a huge amount on the basis of 8.2 percent interest after the completion of 5 years of maturity. According to the calculation, he will earn Rs 82,000 only from interest and the total amount on maturity will be Rs 2,82,000. Earning from interest on quarterly basis will be Rs 4,099.

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