Today we are going to tell you about a very great scheme of the post office, which has been started especially for the elderly. The name of this scheme is Senior Citizen Savings Scheme. If you have recently retired and want to invest your retirement money in a good place, then the Senior Citizen Savings Scheme of the post office can prove to be a great option for you. This scheme is very popular among the elderly in the country. Many people are investing in it. You also get many great benefits by investing in this scheme. At present, you are getting an interest rate of 8.2 percent on investing in Senior Citizen Savings Scheme. In this episode, let us know about this scheme in detail -
You can invest a minimum of 1 thousand rupees in this scheme. At the same time, you can invest up to Rs 30 lakh in this scheme. You can open more than one account in this scheme of post office. However, the investment amount should not exceed Rs 30 lakh.
The money invested by you in this scheme matures in 5 years. After investing in this scheme for five years, you can extend the investment period for three years. If you want to invest less than Rs 1 lakh, then you can open your account in the scheme by paying cash.
On the other hand, if you want to invest more than Rs 1 lakh in this scheme, then you have to deposit the money by cheque. By investing in this scheme, you also get a rebate of Rs 1.5 lakh under Section 80C of Income Tax.
If you invest Rs 10 lakh in the Senior Citizen Savings Scheme of the Post Office for five years. In this situation, if the current interest rate is calculated at 8.2 percent, then at the time of maturity you will have Rs 14.28 lakh.
(PC: ISTOCK)
