Post Office Scheme : Are you also looking for such a scheme in which you get income every month? Post Office is offering such a scheme in which you get income every month.
Post Office’s Senior Citizen Savings Scheme (SCSS) is the best option to get rid of the worry of regular monthly income after retirement. This scheme assures senior citizens of safe and fixed monthly income. If you have retired and want to invest your money in a safe place, then this scheme can be beneficial.
There will be an income of Rs 20,500 every month
The current interest rate in SCSS is 8.2%, which is the highest among government schemes. If you invest a maximum of ₹30 lakh in it, you will get an interest of about ₹2,46,000 every year. You will keep getting this amount in the form of about ₹20,500 every month. This money will be transferred directly to your bank account.
Investment limit and period
Earlier the maximum investment limit in this scheme was ₹ 15 lakh, which has been increased to ₹ 30 lakh.
The maturity period of the scheme is 5 years. After maturity, it can be extended for another 3 years.
Who can invest?
Indian citizens aged 60 years and above can invest in this scheme.
Those who have voluntarily retired between the ages of 55 and 60 can also avail this benefit.
To open an account under the scheme, application can be made at the nearest post office or bank.
Taxes and benefits
Tax has to be paid on the income received from this scheme. However, some tax saving facility is also available under SCSS, which can reduce your tax liability.
Benefits of this scheme
Safe Investment: This scheme is launched by the government, so it is completely safe.
Fixed Monthly Income : After retirement, you will get monthly income for regular expenses.
Interest Rate : You will get interest of 8.2%.
Flexibility: You can extend the investment period after five years.
Terms and Conditions
It is important to understand all the terms and conditions of the scheme before investing in it. This scheme assures financial security for your retirement. If you want a comfortable and secure life after your retirement, then investing in this scheme can be a right decision.
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