Are you also troubled by the fluctuations of the market. Many investors have suffered huge losses due to the huge fall in the stock market in recent times. Many investors say that the earnings of the last 6 months or 1 year have been drowned. According to the data, investors have lost Rs 40 lakh crore in the last month.
In such a situation, many people are now thinking about low-risk investments. If you are also thinking of investing in a similar scheme, then today we are telling you about a government scheme, from which you can earn lakhs of rupees.
This scheme of post office can make you rich
This scheme is linked to the Small Savings Scheme and is operated under the post office. Under this scheme, more than Rs 12 lakh can be earned only from interest. Also, tax benefits are also available under this scheme. The maximum limit of investment in this is Rs 30 lakh. Any senior citizen can invest in this scheme.
We are talking about the Senior Citizen Savings Scheme, under which you can earn lakhs of rupees. Let’s know how.
Post Office Senior Citizen Savings Scheme is a long time deposit scheme. In this, a fixed amount is invested for 5 years. Senior citizens can invest up to a maximum of Rs 30 lakh in this scheme, while the minimum investment limit is Rs 1000.
At present, 8.2 percent interest is being given annually on SCSS. However, interest rates are reviewed on a quarterly basis.
How to earn Rs 12 lakh from interest
If you invest Rs 30 lakh annually in this scheme, then in 5 years you will get an interest of Rs 12,30,000 at the rate of 8.2%. Every quarter you will get Rs 61,500 as interest. In such a situation, after 5 years you will get a total maturity amount of Rs 42 lakh 30 thousand.
On the other hand, if you deposit sum of Rs 15 lakh in this great scheme for 5 years tenure, then according to the present time interest rate of 8.2 percent, you will get Rs 6 lakh 15 thousand in 5 years only from interest.
If you calculate the interest every quarter, you will get Rs 30,750 interest every three months. In this way, by adding Rs 15 lakh and the interest amount, you will get a total maturity amount of Rs 21 lakh 15 thousand.
Who can take advantage of this scheme
Under the Senior Citizen Savings Scheme, any person aged 60 years or above can take advantage of this scheme. This scheme matures after 5 years. If you want to take advantage of this scheme even after 5 years, then after the deposit amount matures, you can extend the account period for three years. SCSS provides the benefit of tax exemption under section 80C.