PPF vs SCSS for Retirement Planning: Every person engaged in a job intends to arrange money after retirement. After retirement, people focus on their expenses so that no financial problem arises. Do you know that these days, some schemes are going on that will prove to be a boon after retirement.
Public Provident Fund and Senior Citizens Scheme are winning the hearts of people. By joining these schemes, you will get a decent interest, from which the way to earning will open. At present, 8.2 per cent interest is being provided in the scheme. Both the schemes are good. But in your opinion, which scheme will prove to be better? You can find the features below.
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Important things related to PPF
The most prominent feature of the Public Provident Fund run by the government is that even after its maturity, its time limit can be extended. You can increase its limit for 5 years. You can continue it even on a new investment or deposit amount.
Most people can choose an extension without investment. 7.1 per cent interest will be available on the deposited amount. The amount can be withdrawn once in every financial year. The interest received in this will be completely tax-free.
How much interest will be received in SCSS?The
Senior Citizens Saving Scheme is working to make people rich. It has been designed for people above 60 years of age. You can get interest every quarter by investing a lump sum in the scheme. This scheme is working to give 8.2 percent interest to the investors, it gets locked for 5 years. If you are in the 30 per cent tax slab, the post-tax return is only 5.7 per cent.
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