The biggest advantage of investing in a post office scheme is that it gives good returns and the security of money is high. In other places, the security of money is not at par with the post office scheme.
The post office has come up with such a scheme in which you can invest 14 lakhs by investing in five years. The name of this scheme is Post Office Senior Citizen Scheme. People above 60 years of age can invest in this scheme. However, one who has taken voluntary retirement can also invest in this scheme.
In this post office senior citizen scheme, you get an interest of 7.4% per annum. One can start investing in this scheme from Rs 1000. Its maximum investment limit is Rs 15 lakh. Under this scheme, you also get benefit under 80C.
Now you will think that how can we get 14 lakh rupees in five years? Let us tell you that out of the amount you get after retirement, you have to invest Rs 10 lakh in this scheme. After five years your Rs 10 lakh will become Rs 14,28,964. That is, in just five years, this scheme gives you the benefit of all the more than 4 lakhs, that too with complete security of your money.
If you want to invest in this scheme, then you have to contact your nearest post office, and after taking information from the post office officer, you have to give your necessary documents. You can also give cash money for investing less than Rs 1 lakh in this scheme. For investment of more than 1 lakh, you need to give a check.
