Post Office superhit scheme: You will get Rs 20,500 every month for five years, this is how much you need to invest
Post Office Scheme: Are you looking for a scheme that will give you a fixed income every month after retirement? You will get Rs 20,500 every month in the Post Office Scheme. Post Office’s Senior Citizen Savings Scheme (SCSS) is one such scheme in which you will get a pension of Rs 20,500 every month
Post Office Scheme: Are you looking for a scheme that will give you a fixed income every month after retirement? You will get Rs 20,500 every month in the Post Office Scheme. Post Office’s Senior Citizen Savings Scheme (SCSS) is one such scheme in which you will get a pension of Rs 20,500 every month. This scheme has been specially designed for senior citizens, so that they do not have to worry about money in any way even after retirement.
Post Office Scheme
If you want an option after retirement that gives you a fixed income every month and also protects you from risk, then Post Office’s Senior Citizen Savings Scheme (SCSS) can be perfect for you. Before investing, read all the terms and conditions of the scheme and take full advantage of the benefits of the scheme.
Income up to Rs 20,500 per month
If you invest a maximum of Rs 30 lakh under the SCSS scheme, you will get an interest of about Rs 2 lakh 46 thousand annually. This means that a regular income of about Rs 20,500 will be deposited in your bank account every month. The interest rate of this scheme is 8.2 percent, which is one of the highest rates available in any government scheme.
How much will have to be invested?
Earlier the investment limit in SCSS was Rs 15 lakh, but now it has been increased to Rs 30 lakh. In this scheme, investment has to be made simultaneously and interest comes to your account every quarter. If you want, you can use it as monthly expenses.
Who can invest?
Indian citizens aged 60 years or above
People aged 55 to 60 years who have taken retirement (VRS).
The account can be opened in a post office or any authorized bank.
What will be the tax impact?
Interest income from SCSS is taxable
However, the investment amount is eligible for tax exemption of up to Rs 1.5 lakh under section 80C
Period of the scheme
The period of this scheme is 5 years.
After 5 years, you can extend it for another 3 years.
Premature withdrawal is also possible, but a penalty will be charged for this.
Why is this scheme special?
Safe government scheme
Fixed monthly income
Benefit of tax exemption
Best option for regular income after retirement.
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