Monthly Income Plan: Getting a regular monthly income after retirement is not easy. However, if you invest wisely during your working years, it can be possible. If you start investing in the right plan, you can get a monthly income even after retirement
Monthly Income Plan: It is not easy to get regular monthly income after retirement. However, if you invest wisely during your working years, it can be possible. If you start investing in the right scheme, you can get monthly income even after retirement. Senior Citizen Savings Scheme (SCSS) under the post office is a small savings scheme. It is a better option for your retirement planning.
Benefits of Senior Citizen Savings Scheme
If you are a senior citizen, you can deposit money in it at once. You can get up to Rs 20,000 every month. You can earn 8.2 percent interest in this scheme. The maturity period of SCSS scheme is five years. Any Indian citizen above 60 years of age can deposit any amount in this scheme. The maximum investment limit in this scheme is Rs 30 lakh, which was earlier Rs 15 lakh.
You can invest this much
If you invest Rs 30 lakh in Senior Citizen Savings Scheme, you will get interest of about Rs 2,46,000 every year. Now if we calculate this money monthly, then about Rs 20,500 will be available every month.
Who can invest
Under this scheme, people who retire at their own will and whose age is between 55 to 60 years can also open this account. Those who want to join this scheme can open an account by going to the nearest post office. Tax will also have to be paid on the money received under this scheme. Senior Citizen Savings Scheme can be a safe and beneficial option for regular monthly income after retirement. You should invest in it after understanding all the terms and conditions of the scheme.
