A good amount is required to achieve any economic goal. Whether you want to buy a house or buy a car, all these require a big account, which you will not be able to achieve only from salary. In such a situation, some people resort to SIP in mutual funds, so that they can achieve their goal in future.
At the same time, some people also think that they do not have to take a risk and get a huge amount. Government schemes can be used for such people. We are telling you about a similar scheme, which is operated under the Post Office Small Savings Schemes. You can open it in your nearest post office.
The plan we are talking about. She can only make you money with interest. If you remain invested in it for five years, then you can earn more than 82 thousand rupees only from interest. Let’s know this scheme in detail …
This plan of post office is fantastic
The plan we are talking about is known as Senior Citizen Saving Scheme (SCSS). Under this scheme, you can make a thick income by depositing outright money. Senior Citizen Saving Scheme is a serpent scheme by the government. It has been specially designed for Senior Citizen. That is, you can give this scheme to your father or grandfather in gift.
The scheme has been opened for people aged 60 years or older. The minimum investment for this scheme is Rs 1000 and the maximum investment limit is Rs 30 lakh. Under this scheme, the maturity period is for 5 years, but if you want, you can increase it for 3 years. Talking about interest, 8.2 percent interest is given under this scheme. Its interest is decided on every quarterly basis and interest is released on an annual basis.
Who can open the account?
Any senior citizen of India can open this account. This account can also be opened in single and joint. Retired citizen employees over 55 years and below 60 years can also invest. However, the condition will be that investing will have to be invested within 1 month of receiving retirement benefits. Apart from this, retired defense employees over the age of 50 years and below 60 years can also invest with this condition.
What will happen if the account is closed ahead of time?
Under this scheme, there is a benefit of tax exemption on annual investment of up to Rs 1.5 lakh under 80C. On the other hand, if you close account ahead of time, then the results given below can be.
- The account can be closed at any time after the date of opening the account.
- If the account is closed before 1 year, no interest will be received and if any interest is given in the account, it will be recovered from the principal.
- If the account is closed after 1 year from the date of opening the account, then the amount of 1.5% will be deducted from the principal.
- If the account is closed after 2 years but before 5 years, then the amount of 1% will be deducted from the principal.
- The extended account can be closed after the expansion of an account without any deduction after the expiration of one year.
Earning 82 thousand from interest
If a lump sum invests in this scheme of 20 thousand rupees, then after completion of 5 years of maturity, he will get a hefty amount on the basis of 8.2 percent interest. According to calculation, he will only earn ₹ 82,000 from interest and will get a total amount of ₹ 2,82,000 on maturity. Earnings from interest on a quarterly basis will be ₹ 4,099.
—- End —-