This scheme is linked to Small Saving Schemes and is operated under the Post Office. Under this scheme, you will earn more than Rs 12 lakh from interest alone.
Retail investors have suffered huge losses due to the huge fall in the stock market for the last few days. Most investors say that they have lost what they had earned during the last 6 months or 1 year. According to the data, investors have suffered a loss of Rs 40 lakh crore during the last one month. In such a situation, many people are now thinking about investing in low-risk places. If you are also thinking about investing in a similar scheme, then today we are giving information about a government scheme, which can make you earn lakhs of rupees.
This scheme is linked to Small Saving Schemes and is operated under the Post Office. Under this scheme, more than Rs 12 lakh will be earned from interest alone. Also, the risk will be negligible. At the same time, the benefit of tax benefit is also given under this scheme. The maximum limit of investment in this is Rs 30 lakh. Any senior citizen can invest in this scheme. Actually, we are talking about Senior Citizen Saving Scheme, under which you can earn lakhs of rupees. Let’s know how?
Post Office Senior Citizen Saving Scheme is a deposit scheme. A fixed amount is invested in it for 5 years. Senior citizens can invest up to Rs 30 lakh in this scheme, while the minimum investment limit is Rs 1000. At present, 8.2 percent annual interest is given on SCSS. However, the interest is revised on a quarterly basis.
How will you earn 12 lakhs from interest?
If you invest 30 lakhs annually in this scheme, then in 5 years you will get an interest of Rs 12,30,000 at the rate of 8.2%. Every quarter Rs 61,500 will be credited as interest. In such a situation, after 5 years you will get a total of Rs 42 lakh 30 thousand as maturity amount.
On the other hand, if you deposit Rs 15 lakh in this scheme for 5 years, then according to the current interest rate of 8.2 percent, you will get Rs 6 lakh 15 thousand in 5 years only from interest. If you calculate the interest on quarterly basis, then you will get Rs 30,750 interest every three months. In this way, by adding Rs 15 lakh and the interest amount, you will get a total of Rs 21 lakh 15 thousand as maturity amount.
Who can get this benefit?
Under the Senior Citizen Savings Scheme, any person aged 60 years or above can avail the benefits of this scheme. The scheme matures after 5 years. If you want to continue the benefits of this scheme even after 5 years, then after the deposit amount matures, you can extend the account period for three years. SCSS offers tax exemption under Section 80C.
