Post Office Scheme: Post Office Senior Citizen Savings Scheme is a reliable and safe investment option. especially for those who are looking for regular income after retirement.
It is mandatory to be an Indian citizen to avail this scheme. By investing a lump sum amount in it. you get regular income every month as per the fixed interest rate. This scheme is not only safe but also gives additional benefits along with the entire deposit amount on maturity.
Know about SSCSS scheme
Senior Citizens Savings Scheme (SCSS) is a very beneficial scheme run by the Government of India. which is specially designed for senior citizens. This scheme provides financial security to citizens above 60 years of age. By investing in it. you keep getting a fixed amount every month, which becomes a stable source of your regular income.
SCSS is considered to be one of the highest interest paying schemes of the post office. To avail this scheme. you have to go to your nearest post office and open an account. The process of opening an account is very simple, and once the account is opened. you can get good returns from this scheme.
Know whether interest will be given at 8.2%
In the Senior Citizens Savings Scheme (SCSS) run by the post office. you are being given an attractive annual interest of 8.2%. This interest is available on a quarterly basis. which you can also get annually if you want. The biggest advantage of this scheme is that the interest rates in it are higher than any bank scheme.
This is the reason why many citizens prefer the post office for their investment. SCSS not only offers high interest rates. but there is also a full guarantee of safety of your money. which makes it an ideal option for investment.
Get attractive interest on investment in SCSS on quarterly basis
Post Office Senior Citizens Savings Scheme (SCSS) is a great option for senior citizens who are looking for a stable income after their retirement. Under this scheme. if a person deposits Rs 30 lakh in his SCSS account. he gets benefits at an annual interest rate of 8.2%.
This amount has to be deposited for a maturity period of 5 years. In this period. the investor will receive an interest of Rs 1,23,000 annually and a total interest of Rs 6,15,000 can be earned in 5 years. If you want to receive interest on a quarterly basis, you will get an interest of Rs 30,750 every three months.