Many government schemes are run by the government under Post Office Schemes, under which the person gets the benefit of tax and more compensation. These small savings schemes under the post office are considered a safe investment option, due to which most of the population of the country invests in these schemes. Apart from providing higher profits, these plans also offer different types of benefits.
Today we are going to tell you about a scheme of the post office, which will give you income every month. You have to invest money in this scheme only once, then you will get the amount as monthly income scheme. Actually, we are talking about Post Office Senior Citizen Savings Scheme (SCSS). This is a plan that will give you a fixed income every month after retirement. You can take Rs 20,500 per month for five years.
How much interest do you get?
Senior citizens investing in Senior Citizen Savings Scheme can earn up to Rs 20 thousand per month. The interest rate under this scheme is 8.2 percent, which is revised every quarter. However, this interest rate is calculated on an annual basis. This is the highest interest rate 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 in this scheme.
How much can you invest?
Earlier the maximum investment limit under this scheme was Rs 15 lakh, which has been increased to Rs 30 lakh. If you invest Rs 30 lakh in it, you will get interest of around Rs 2,46,000 per year. In this case your monthly income will be Rs 20,500 per month. It guarantees regular income every month after retirement.
Who can invest?
If you want to invest under this scheme, you can contact the nearest post office and bank. People aged 60 years and above can invest in SCSS scheme. Also, if a person voluntarily retires between the age of 55 to 60 years, then he can open an account in it.
you will have to pay tax
Under this scheme people will have to pay tax on income. SCSS scheme also provides tax saving facility, under which you can reduce your tax liability. For more information under this scheme, you can visit the official website of the post office. You can also contact the post office agent.
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