Invest in this amazing scheme of Post Office, you will get Rs 20,500 every month, your old age will be spent in fun
Post Office SCSS New Update: Post Office has a great scheme! In this, you get safe and guaranteed return on investment! This scheme is Senior Citizen Savings Scheme! The most special thing about this scheme is that it is being run by the Central Government! In this, investors get tremendous returns on depositing money together, which is even more than bank FD! Let us tell you that in this savings Post Office Senior Citizen Savings Scheme, currently 8.2 percent interest is being given, which also changes every quarter!
Post Office SCSS New Update
You must have seen a post office near your house! It is a red and white colored building! Here not only letters are sent and received, but also strong returns are given on savings schemes! The government institution offers special savings schemes for people of all ages!
Today we will talk about the elderly, who want to invest their lifelong earnings in a safe scheme! Want good returns on the amount invested! Post Office is offering Post Office Senior Citizen Savings Scheme for the elderly, in which only citizens above 60 years of age can invest!
Interest is more than FD
From January 1, 2024, Post Office also gives 8.2% annual interest on the money deposited in the scheme, which is more than the FD of most banks! There is no risk at all in this! Because these savings schemes are backed by the government! Post Office Senior Citizen Savings Scheme is a scheme offered by post offices and banks, in which senior citizens can earn good profits by investing! This is a very good scheme for creating a retirement fund!
Income will be assured in SCSS
Investment in Post Office Senior Citizen Savings Scheme is safe and gives guaranteed returns! The annual interest rate is 8.2 percent! In this sense, an investor can earn Rs 2.05 lakh as interest on an investment of Rs 5 lakh for a period of 5 years in the scheme! Because on maturity, the interest and principal will be Rs 7.05 lakh! Every quarter i.e. in 3 months, the interest income will be reduced by Rs 10250! Whereas currently 5.3% return is being given on tax saving FD!
You will also get the benefit of tax exemption
The special thing is that tax exemption is also available in this Post Office Senior Citizen Savings Scheme! Tax exemption is available on this scheme under Section 80C of the Income Tax Act! However, if the return from interest in the scheme is more than Rs 50,000 then TDS is levied! An investment of up to Rs 30 lakh can be made in the scheme for a period of 5 years, which can also be extended for the next 3 years!
Who can invest in SCSS
People aged 60 years or above can invest in Post Office Senior Citizen Savings Scheme! Account can be opened by visiting the post office! Age relaxation can be given to such persons taking VRS, whose age is more than 55 years but less than 60 years!
Who can invest in SCSS
People aged 60 years or above can invest in Post Office Senior Citizen Savings Scheme! Account can be opened by visiting the post office! Age relaxation can be given to such persons taking VRS, whose age is more than 55 years but less than 60 years!
Apart from this, people above 50 years and below 60 years of age who have retired from the Defense Department can also invest in this Post Office Senior Citizen Savings Scheme! However, in this case, the investment has to be made within 1 month of retirement! For more information related to the scheme, you can visit the official website of Post Office
