Post Office Scheme: Are you looking for a scheme in which money keeps coming every month. Your money is also safe. Post Office is offering a great scheme for you. In this scheme of Post Office, you will get Rs 20,500 every month
Post Office Scheme: Are you looking for a scheme in which money keeps coming every month. Your money is also safe. Post Office is offering a great scheme for you. In this scheme of Post Office, you will get Rs 20,500 every month. Getting regular monthly income after retirement becomes a challenging task. Senior Citizen Savings Scheme (SCSS) is one such scheme which will give you a fixed income every month after retirement. You can take Rs 20,500 every month for five years.
You will get Rs 20,500 every month for life
Senior citizens investing in SCSS can earn up to Rs 20,000 every month. The interest rate of this scheme is 8.2 percent. This is the maximum interest given in any government scheme. Its maturity period is five years. There is also an option to extend it after five years. Indian citizens above 60 years of age can invest lump sum money in this scheme.
This much investment will have to be made in the post office scheme
Earlier the maximum investment limit in this scheme was Rs 15 lakh, which has now been increased to Rs 30 lakh. If you invest Rs 30 lakh in it, then you will get about Rs 2,46,000 as interest every year. According to this, every month you will have a monthly income of about Rs 20,500. This money will come directly to your bank account. It will prove useful for regular expenses after your retirement.
Who can invest?
People aged 60 years and above can invest in the SCSS scheme. Apart from this, people who voluntarily retire at the age of 55 to 60 years can also open an account in it. To open an account in the scheme, you can apply by going to the nearest post office or bank.
What tax will have to be paid?
Keep in mind that tax also has to be paid on the income received from this scheme. However, SCSS scheme also provides tax saving facility, so that you can reduce your tax liability to some extent.
Rules
Senior Citizen Savings Scheme can be a safe and beneficial option for regular monthly income after retirement. Therefore, it is important to understand all its terms and conditions before investing in this scheme. By investing in this scheme, you can make your retirement financially secure.
