Deposit money in this scheme instead of bank, you will earn 40 thousand rupees every month, entire deposit will be returned after maturity

Senior Citizens Savings Scheme : After retirement, a lump sum fund is received, which many senior citizens allow to remain deposited in their bank account for a long time. These funds deposited in the bank’s savings account earn an annual interest of 3.5 percent to 4 percent. Lifelong savings are very special for anyone, so many people consider the bank to be safe and let such a large amount remain in it. But this is not wise. By depositing this amount in a special scheme of Post Office (Post Office Small Savings), which is safer than the bank, you can earn income every month with double interest and after maturity you will get the entire deposit back.

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We are talking about the Post Office Small Savings Scheme, Senior Citizens Savings Scheme. The government has a sovereign guarantee on the Post Office Small Savings, so there is no worry about safety and returns. You can invest your funds through this scheme and make it a source of regular income. Senior Citizens Savings Scheme (SCSS) is a government-backed retirement benefit program. In this scheme, you can get regular income with tax benefits. The interest rate on this is double that of a savings account.

Amazing scheme with 8.2% interest

The maturity period of SCSS is 5 years and the current interest rate on this scheme is 8.2% per annum. You can deposit a minimum of Rs 1000 and Rs 30 lakh through a single account. Husband and wife can deposit up to Rs 60 lakh in it through separate accounts. Under Section 80C of the Income Tax Act, one gets tax benefit on investment up to Rs 1.5 lakh. You can extend this account for another 3 years after the maturity of 5 years.

People who saved 5000 rupees monthly made 5 crores, have you invested money in any such scheme

Monthly income of Rs 40100

Maximum deposit from 2 different accounts: Rs 60 lakh
Interest: 8.2% p.a.
Maturity period: 5 years
Monthly interest: Rs 40,100
Quarterly Interest: Rs 1,20,300
Annual interest: Rs 4,81,200
Total interest in 5 years: Rs 24,06,000
Total return: Rs 84,06,000 lakh (Rs 60,00,000 + Rs 24,06,000)

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Opening a single account

Maximum deposit: Rs 30 lakh
Interest rate: 8.2% per annum
Maturity period: 5 years
Monthly interest: Rs 20,050
Quarterly interest: Rs 60,150
Annual interest: Rs 2,40,600
Total interest in 5 years: Rs 12,03,000
Total return: Rs 42,03,000 lakh (30,00,000 + 12,03,000)