Senior Citizen Savings Scheme: Today, everyone is thinking about investing to secure their future themselves and their family, so this scheme can be special for you. If you want that after retirement, you do not have to depend on anyone financially, then for this it is most important that you do not have to depend on anyone financially after retirement, then for this, this government scheme can prove to be very beneficial.
We are talking about the Senior Citizen Savings Scheme of the Post Office. This scheme is providing good returns to the investors. This scheme has been specially designed for the elderly. Let us know how you can take advantage of this scheme.
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What is the eligibility of the SCSS scheme?
To invest in the Senior Citizen Savings Scheme of the Post Office, the minimum age should be 60 years. On the other hand, if someone has taken VRS, then they can easily invest at the age of 50 years. Retired people in the defense sector can easily invest in this scheme.
Limit to invest in SCSS
Let us tell you that you can invest from 1 thousand to 30 lakh rupees in SCSS. Earlier, the limit of investment was up to 15 lakh rupees, which has been extended. If you are thinking of investing less than 1 lakh rupees, then you can open an account by paying cash, but if you deposit more than 1 lakh rupees, you will have to give a cheque. You can also open more than one account. But the total amount of investment can be more than 30 lakh rupees.
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Know how much return is received
Investment in SCSS scheme gives interest at the rate of 8.2 percent. The investment amount in this gets matured after 5 years. At the same time, the investment can be extended for 3 years. If you have invested 10 lakh rupees in this scheme for 5 years, then a total of 14.28 lakh rupees will be received. In this scheme, a rebate of up to Rs 1.5 lakh is available under Section 80C of Income Tax.
It is better than FD
Let us tell you that in this scheme, interest is being received at the rate of 8.2 percent, because till now no bank has given so much interest on it. In such a situation, this scheme can prove to be very beneficial for investors. If you invest for the long term, then this savings scheme can be a special option.