Post Office Superhit Scheme: For the elderly, such a scheme is run in the Post Office, in which they are given a good amount of interest. The name of the scheme is Senior Citizen Savings Scheme. Through this scheme, if the elderly want, they can earn ₹ 12,30,000 from interest alone.
Post Office Superhit Scheme: Senior Citizens Savings Scheme: After retirement, the elderly do not have any solid source of income. They have a lifetime capital i.e. retirement fund which they use according to their convenience and invest in various places so that their money keeps growing with time. Most of the elderly do not like to take any kind of risk in terms of investment. They like to invest in such a scheme from which they can get guaranteed returns.
For such elderly, such a scheme is run in the Post Office, in which they are given a good amount of interest. The name of the scheme is Senior Citizen Savings Scheme. Through this scheme, if the elderly want, they can earn ₹ 12,30,000 from interest only. Know how-
Know how much interest is being received
Post Office’s Senior Citizen Savings Scheme is a deposit scheme. In this, a fixed amount is deposited for 5 years. Senior citizens can invest up to a maximum of Rs 30,00,000 in this scheme, while the minimum investment limit is Rs 1000. At present, interest is being given on SCSS at the rate of 8.2 percent.
This is how you will get interest of ₹ 12,30,000
As we told you, you can deposit up to a maximum of Rs 30,00,000 in this scheme. If you invest this amount in this scheme, then in 5 years you will get an interest of Rs 12,30,000 at the rate of 8.2%. Every quarter ₹61,500 will be credited as interest. In this way, after 5 years you will get a total of ₹42,30,000 as maturity amount.
On the other hand, if you deposit Rs 15 lakh in this scheme for 5 years, then according to the current interest rate of 8.2 percent, you will get ₹6,15,000 as interest in 5 years. If you calculate the interest on a quarterly basis, then you will get ₹30,750 interest every three months. In this way, by adding 15,00,000 and the interest amount of 6,15,000, you will get a total of Rs 21,15,000 as maturity amount.
Who can invest
Any person who is 60 years or above can invest. Civil sector government employees taking VRS and people retiring from defense are given relaxation in age limit with some conditions. The scheme matures after 5 years. If you want to continue the benefits of this scheme even after 5 years, then after the deposit amount matures, you can extend the account period for three years. It can be extended within 1 year of maturity. The extended account gets interest at the rate applicable on the date of maturity. SCSS offers tax exemption under section 80C.
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