Post Office SCSS Yojana: Big News! You can become a millionaire by investing just 5 years, know details

Post Office SCSS Yojana: Senior Citizen Savings Scheme is a very great savings scheme for all the elderly living in our country. In this savings scheme, an elderly person can deposit a lump sum amount either individually or jointly. 

With this scheme you can get tax benefits as well as regular income. For your information, let us tell you that the benefit of Post Office Senior Citizen Savings Scheme can be availed by the elderly above 60 years of age. The time limit of this scheme has been fixed for 5 years.

Know about Post Office Senior Citizens Savings Scheme

• In this scheme, the depositor will have to invest in multiples of Rs.1000. In this, the maximum limit of Rs 15 lakh has been kept. Let us tell you that the Post Office Senior Citizen Scheme provides many types of schemes to the people. There are various schemes available for people of all ages.

• If you are also planning to invest to improve your future, then through this scheme you will become a millionaire within a few years. Under this scheme, you are given interest at the rate of 7.4%. At the same time, let us tell you one more special thing of this scheme that once the maturity in this scheme, an investor is given the option to extend the period of investment up to 3 years.
• If a senior citizen invests a lump sum of Rs 10 lakh in the Post Office Senior Citizen Savings Scheme, then he will get a total of Rs 14,28,964 after 5 years at the rate of 7.4% per annum. The senior citizen gets a benefit of Rs 4,28,964 as interest.
• Let us tell you that for opening an account in this scheme, a minimum payment of Rs 1000 has to be made and this amount can be more than Rs 15 lakh. Let us tell you that if the account opening amount is less than 1 lakh, then you can pay it in the form of cash, but you will have to pay more than one lakh by check only.