Post office saving scheme for senior citizens gives more return than fixed deposit, know details

By
Jyoti
-
0
13
- Advertisement -

Post Office Senior Citizens Saving Scheme: If you fall in the category of senior citizens, then the Post Office Senior Citizens Saving Scheme (SCSS) can be a great option for you. By investing in this scheme, you get regular monthly interest, which maintains your financial stability. Let’s know about this scheme in detail…

- Advertisement -

Post Office Saving Scheme Saving is an important part of everyone’s life, which can become a support whenever needed. Friends and relatives may not be able to help in difficult times, but investing in the right scheme can provide you financial security. With this thought, many people invest money in different savings schemes, such as mutual funds, fixed deposits (FD) or government savings schemes .

In such a case, if you are a senior citizen (Senior CitizensIf you fall in the category of ), then the Post Office Senior Citizens Saving Scheme (SCSS) can be a great option for you. By investing in this scheme, you get regular monthly interest, which maintains your financial stability. Let’s know about this scheme in detail…

It is important to maintain regular income after retirement, and for this this scheme can prove to be a great option. People aged 60 years or above can invest in this scheme. In this scheme you can invest…
  • Minimum investment: You can start with Rs 1,000.
  • Maximum investment: Up to Rs 30 lakh can be invested.
  • Investment period: 5 years (can be extended by 3 years if required).

Higher interest than FD

If you invest in traditional fixed deposits (FD), the interest rate ranges between 7% to 7.50%. But Senior Citizens Savings Scheme (SCSS) offers an interest rate of 8.2%, which is higher than FD.
There will be regular income every month
The biggest advantage of this scheme is that you get monthly interest payment. For example, if you invest Rs 15 lakh in this scheme for 5 years, you will get Rs 10,250 interest every month. At the same time, in 5 years you will get Rs 6,15,000 only in the form of interest.

Benefits of this scheme:

  • Government Scheme: Completely safe and guaranteed returns.
  • Higher interest rates: Higher returns than FD.
  • Regular Monthly Income: Financial security after retirement.
  • Tax Benefits: Benefit of tax exemption under section 80C.
Related Articles:-
- Advertisement -

Related ArticlesMore From Author