Post Office Scheme: Even today the post office is considered to be the best option for investment. It also gives good returns along with money guarantee. Today we will tell you about such a scheme of post office in which customers also get good returns. Let’s know everything about it.
Senior Citizen Saving Scheme
Investors get huge benefits on the Senior Citizen Saving Scheme of the Post Office. In this government scheme, you are getting the benefit of interest at the rate of 7.4 percent. Along with this, the interest rates are reviewed every quarter by the government. So the amount of interest can also change in this.
Get tax benefit
Let us tell you that in this government scheme, along with good returns, there is also the benefit of tax benefits. Today we will tell you how you can earn more than 1 lakh every year by investing money in this scheme.
How much can you invest?
You have to invest a minimum of 1000 rupees in this government scheme. After this, you can also increase the investment in it in a multiple of 1000. You can invest a maximum of 15 lakhs in this. Its maturity period is 5 years, but account holders can extend this scheme for another 3 years.
Tax exemption up to 1.5 lakh will be available
You can get the benefit of exemption of up to 1.5 lakh under 80C of Income Tax. At the same time, if the interest you get is more than 50,000 then you will have to pay tax on it.
How to get Rs 111,000
If an investor has deposited Rs 15 lakh i.e. the maximum amount in this government scheme and he is getting the benefit of interest at the rate of 7.4 percent, then according to this he will get Rs 27750 every quarter. At the same time, if we look at its annual amount, then it will become Rs 1,11,000.
There will be double profit in joint account
If you open a joint account, then the maximum investment limit will increase to Rs 30 lakh. After doubling the investment amount, the interest will be doubled to Rs 2.2 lakh.
