The Kalamkar

Investment Tips: This scheme will make senior citizens rich, they will earn 12 lakhs only from interest

Investment Planning: Everyone thinks about investing to secure the future. Before investing, investors look for options with low risk and high returns. In such a situation, the post office scheme can prove to be best for you. Senior citizens are getting huge interest in this scheme of post office. If you want to invest then by investing here you can earn lakhs of rupees from interest (maximum interest rate). Let us know in detail in the news below- 

investment tips

The Kalamkar News (Bureau). After retirement, for senior citizens, their accumulated capital is a great support for their future life. Because of this, he keeps this money very carefully. After retirement, most of the senior citizens consider bank fixed deposit i.e. FD as a safe option. 

It is quite safe but the interest rate is low. In such a situation, we are going to tell you about a scheme in which your money will be as safe as a regular bank FD but in this you will get a higher interest rate than FD.

Saving Scheme for Senior Citizens

Indian Post Office is running a tremendous scheme for senior citizens. Under this scheme, senior citizens (Senior citizen post office scheme) can earn more than Rs 12 lakh interest from their deposits sitting at home. 

The post office is running Senior Citizens Savings Scheme (SCSS) for senior citizens in which you will get huge interest on the amount deposited. At present, the Senior Citizens Savings Scheme is offering interest at the rate of 8.2 percent. Know special things related to SCSS.

What is the maximum amount that can be deposited?

Any senior citizen can invest a maximum of Rs 30,00,000 in the Senior Citizen Savings Scheme. At the same time, the minimum investment limit is Rs 1,000. In this scheme, interest is given on the deposited amount on quarterly basis. This scheme matures after 5 years. Any person whose age is 60 years or more can invest in this scheme. At the same time, civil sector government employees taking VRS and people retiring from defense are given age relaxation with certain conditions.

You can earn more than Rs 12 lakh just from interest

If you want, you can earn a maximum of Rs 12,30,000 only from interest through Senior Citizens Savings Scheme. But for this you will have to deposit a maximum of Rs 30,00,000. If you deposit Rs 30,00,000 lakh in this scheme, then in 5 years you will get interest of Rs 12,30,000 at the rate of 8.2 percent. That means after 5 years you can get a maturity amount of Rs 42,30,000.

If you want to continue the benefits of this scheme even after 5 years, then after the maturity of the deposit amount, you can extend the account period for three years. It can be extended within 1 year of maturity. The extended account earns interest at the rate applicable on the date of maturity. In this scheme, the benefit of tax exemption under section 80C is also available.