Senior Citizen Scheme: Today in this news we are going to tell you about a scheme in which after investing money, you will not need to extend your hand to anyone in old age. Let us tell you that in this scheme you will get interest of Rs 2 lakh on investment of Rs 5 lakh…
Post Office SCSS: How much better it would be if one did not have to depend on anyone else for money in old age. For this, it is important to make safe investments for your hard-earned money. In this there is a tremendous scheme of the post office. In this, you get safe and guaranteed returns on investment. This is Senior Citizen Saving Scheme (SCSS).
The most special thing about this scheme is that it is a Central Government sponsored scheme, in which investors get tremendous returns on lump sum deposits, which are more than bank FD. Let us tell you that at present an annual interest of 8.2% is being offered in this saving scheme, which also changes every year.
The scheme is very special for the elderly-
Post Office SCSS is especially for people above 60 years of age. Also, this scheme is also for those who have taken VRS. At present 8.2% interest is being given on the scheme. In this scheme, senior citizens can earn Rs 10,250 every quarter only on interest on lump sum deposit of Rs 5 lakh. In 5 years, you will earn up to Rs 2 lakh only from interest. Let’s understand this through calculations…
Post Office SCSS Calculation-
- Lump sum deposit amount: Rs 5 lakh
- Deposit period: 5 years
- Interest rate: 8.2%
- Maturity amount: Rs 7,05,000
- Interest income: Rs 2,05,000
- Quarterly income: Rs 10,250
