In this crisis of the corona virus, people are looking for a safe haven to invest. If you are also looking for a safe place, then the post office scheme may be better for you. If you are a senior citizen and want to invest your money somewhere, then the post office scheme can prove to be better for you.
Post Office has a Senior Citizen Saving Scheme. Investment in this scheme is not only attractive, but also safe.
If you invest 10 lakh rupees, you will get more than 14 lakh
If senior citizens invest a lump sum of Rs 10 lakh in this scheme, the total amount will be Rs 14,28,964 at the maturity period after 5 years at a compound interest rate of 7.4 percent. That is, in 5 years, you will gain Rs 4,28,964.
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Features of Senior Citizen Saving Scheme
- If you open an account in the Senior Citizen Saving Scheme, then the age should be more than 60 years. Apart from this, people who are taking VRS can also open their account in this scheme.
- The amount to be deposited in it should not exceed the amortization of retirement benefits.
- The scheme has an annual interest rate of 7.4 percent, with a maturity period of 5 years.
- You can invest in it only once. To invest, at least 1000 rupees can be invested up to 15 lakh rupees.
- You can also discontinue this scheme prematurely. But for this, you have to complete at least one year. If you do after one year, the amount will be deducted at 1.5 percent of the deposit. On the other hand, if you close after 2 years, 1 percent of the deposit will be deducted.
- Under the Senior Citizen Savings Scheme, the depositor can also keep more than one account in a joint with an individual or his / her spouse. But not all can invest more than 15 lakh rupees.
