If you prefer safe investments, then apart from the bank, there are many options for you in the post office. Here you will find all the options, from short-term to long-term investment. Know here about such post office schemes on which interest is being given from 7.5% to 8.2%. If you want to make money with safe investments, then you can invest in these schemes. Today we are going to discuss the post office’s most popular scheme, which is the Senior Citizen Shavings scheme. Through this scheme, you will earn up to 20,000 rupees.
Earn more than 20,000 rupees
If you want to make regular income through the Senior Citizens Savings Scheme, then you will earn Rs 60150 or monthly Rs 20050 every 3 months. On the other hand, if you do not withdraw this money, then you will get a total interest of Rs 12 lakh in 5 years. After the same 5 years, your entire deposited capital, i.e., the investment made by you, will also be returned. After maturity, you can invest in it once again.
Highest Safety, High Returns, and Tax Saving Benefits
The Senior Citizens Savings Scheme has been specially designed keeping in mind the senior citizens, which offers the opportunity of regular income with the highest safety, high returns, and tax savings benefits. This scheme can also be used for regular income after retirement. Senior citizens residing in India can make a lump sum investment in this scheme individually or jointly and can earn high returns with tax benefits. The maturity period of this scheme is 5 years, and it is getting interest at the rate of 8.2 percent per annum.
USP of SCSS
Maturity: 5 years.
Interest rate: 8.2% per year.
Minimum investment: Rs 1000.
Maximum investment: Rs 30 lakh.
Tax Benefit: Available under Section 80C.
Premature Closure Facility: Available.
Nominee Facility: Available.
How many accounts can be opened?
In the Senior Citizens Savings Scheme, you can open a single account or a joint account with the wife. Apart from this, if both husband and wife are eligible for this, then 2 separate accounts can also be opened. A maximum of Rs 30 lakh can be deposited in a single account or joint account with a wife and a maximum of Rs 60 lakh in 2 different accounts. You can extend this account for another 3 years after the maturity of 5 years.
SCSS: Interest Calculator
Maximum deposit in single account: Rs 30 lakh
Interest rate: 8.2% per annum
Maturity Period: 5 years
Annual interest: Rs 2,40,600
Quarterly interest: Rs 60,150
Monthly interest: Rs 20,050
Total interest in 5 years: 12,03,000
Total returns: Rs 42,03,000 lakh.