Post Office: Everyone wants to be part of a scheme that ensures a regular income every month. If you are also aiming to become wealthy by joining a powerful scheme, there’s no need to worry. We are about to introduce you to an outstanding scheme that captures people’s hearts. This scheme is being operated by the Post Office.
The scheme is named Senior Citizens Savings Scheme, which offers to make people wealthy. This excellent scheme from the Post Office provides a fixed income every month. If you want to receive a benefit of ₹20,500 every month, it is essential to pay attention to the necessary details. To join the scheme, you need to invest according to a monthly calculation.
Senior Citizen Saving Scheme is winning hearts
The Senior Citizens Savings Scheme, a formidable plan offered by the Post Office, presents substantial advantages. This scheme is open to individuals who have availed of VRS as well. At present, the Post Office’s scheme offers an interest rate of 8.2% per annum. Under this plan, senior citizens investing ₹15 lakhs can fulfill their dream of earning ₹10,500 every quarter.
Over 5 years, you will earn ₹2 lakhs as interest. If you invest ₹30 lakhs, you can earn ₹2,46,000 annually as interest. You can invest ₹20,500 monthly or ₹61,500 quarterly, which is akin to a great offer.
Getting tax discount on joining the scheme
The Senior Citizen Savings Scheme allows you to start with a minimum investment of ₹1,000. The maximum investment limit is ₹30 lakhs. By investing in this scheme, you can avail of a discount under Section 80C, which you can conveniently benefit from, presenting an opportunity not to be missed.
If you invest ₹30 lakhs at an interest rate of 8.2% in the Senior Citizen Savings Scheme, you can anticipate earning significant returns. After 5 years, your investment will mature to approximately ₹42.30 lakhs, with an interest accrual of around ₹12.30 lakhs. Quarterly, you will receive about ₹61,500, while monthly earnings will amount to ₹20,500.
