Senior Citizen Saving Scheme: Senior Citizen Saving Scheme is a scheme run for the elderly, in which their money remains safe and they are given good interest by the government.
By working hard throughout his life, any person accumulates a retirement fund for himself, so that when his body is no longer capable of working hard, then the retirement fund can become his support. But it is also necessary to invest this retirement fund somewhere, so that it gets the benefit of interest and the amount keeps increasing. Senior Citizen Saving Scheme (SCSS) has been created especially for such people.
Good interest is being given in this scheme run by the government for senior citizens. At present, interest is being given on it at the rate of 8.2%. Any person whose age is 60 years or more can invest in this scheme. Apart from this, people in the age group of 55-60 years who have taken VRS and retired defense personnel, whose age is minimum 60 years, can invest in this scheme.
You can invest up to Rs 30,00,000
Investment in SCSS can be started from Rs 1000 and a maximum of Rs 30,00,000 can be invested. Earlier the maximum investment limit was Rs 15 lakh. The deposited amount matures after 5 years from the date of account opening. The deposited amount matures after 5 years from the date of account opening. Interest is given on the deposited amount on quarterly basis. Apart from this, tax benefits are also available in Senior Citizen Savings Scheme.
What is the return on investment of Rs 1 to 15 lakh in 5 years?
- If you invest Rs 1,00,000, you will get Rs 1,41,000 on maturity.
- If you invest Rs 2,00,000, you will get Rs 2,82,000 on maturity.
- If you invest Rs 3,00,000, you will get Rs 4,23,000 on maturity.
- If you invest Rs 4,00,000, you will get Rs 5,64,000 on maturity.
- If you invest Rs 5,00,000, you will get Rs 7,05,000 on maturity.
- If you invest Rs 6,00,000, you will get Rs 8,46,000 on maturity.
- If you invest Rs 7,00,000, you will get Rs 9,87,000 on maturity.
- If you invest Rs 8,00,000, you will get Rs 11,28,000 on maturity.
- If you invest Rs 9,00,000, you will get Rs 12,69,000 on maturity.
- If you invest Rs 10,00,000, you will get Rs 14,10,000 on maturity.
- If you invest Rs 11,00,000, you will get Rs 15,51,000 on maturity.
- If you invest Rs 12,00,000, you will get Rs 16,92,000 on maturity.
- If you invest Rs 13,00,000, you will get Rs 18,33,000 on maturity.
- If you invest Rs 14,00,000, you will get Rs 19,74,000 on maturity.
- If you invest Rs 15,00,000, you will get Rs 21,15,000 on maturity.
