Post Office Scheme: Everyone worries about their retirement. People wonder how they will run their household after retirement. But you don’t need to worry. The Post Office is offering a great scheme for senior citizens. Investing in this scheme will put an end to your worries about old age. Your investment is safe, and you receive excellent returns, as this scheme is government-run.
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We are talking about the Post Office’s Senior Citizen Savings Scheme. Investing in this scheme can secure your old age. Let’s learn more about this scheme.
How much return is received?
Under this scheme, investors are offered a return of 8.2%. The minimum investment is ₹1,000 and the maximum is ₹30 lakh. The special feature of this scheme is that it offers a tax benefit of up to ₹150,000 under Section 80C. Investors can extend the scheme for three years upon maturity. Investors can invest at least 60 years of age.
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How much return will you receive?
If you invest ₹100,000 in the Senior Citizen Savings Scheme for 5 years, you will earn ₹2,049 per month. At maturity, you will receive a total of ₹141,000, along with a total interest of ₹41,000.