Post Office Scheme: These days, everyone saves to improve their lives. If you’re thinking about saving for your family’s bright future, this Post Office scheme could be a great fit for you. This Post Office savings scheme keeps your money safe and offers excellent returns. Investing in this scheme can earn you 20,500 rupees monthly just from interest. Tax benefits are also available. Let’s explore this in detail.
We’re talking about the Post Office Senior Citizen Savings Scheme. The highlight of this scheme is that a single investment can earn you over 20,000 rupees per month. This will ensure you don’t face financial difficulties after retirement and ensure a regular monthly income.
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This percentage of interest and tax benefits
The government provides interest on the amount invested in the Post Office scheme. Investors are offered interest at an 8.2% rate. Consequently, the investment yields monthly earnings. The special feature is that it offers higher interest rates than many bank fixed deposits. Furthermore, the government provides income tax exemptions of up to ₹1.5 lakh on investments made.
Up to what age can one invest?
Investors can enjoy a comfortable life in old age under this government scheme. Regarding age, individuals aged 60 and above can open a single or joint account. Individuals aged 55 to 60 who have retired from government positions in the civil sector and individuals aged 50 to 60 in the defence sector can also open an account.
You can earn ₹2.46 lakh from home.
This post office scheme provides a monthly interest on regular investments. If you invest ₹30 lakh, you earn 8.2% interest. Investments in this scheme earn an annual interest of ₹2.46 lakh. This provides a guaranteed monthly income of ₹20,500. The scheme has a maturity period of 5 years.
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How to open an account
To open an account under the Post Office Senior Citizen Savings Scheme, you can visit your nearest branch. Once opened, you can close the account at any time. This facility is provided by the Post Office. The closing period for this scheme is less than 1 year. After this, you will not be paid any interest.