Guaranteed income of Rs 6 lakh every year, deposit the funds in these 2 government accounts after retirement

Guaranteed Income : What is the biggest tension after retirement? First of all, your monthly income reduces, due to which you have to compromise on your lifestyle. The second tension is that many people want regular income even after retirement, but they find it difficult to find an alternative. They do not want to invest their savings in any such scheme where there is a possibility of even one percent loss. But there is a solution where you can earn about 6 lakh rupees every year or 50 thousand rupees every month only from interest while keeping your savings completely safe.

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Which government schemes?

After retirement, two safe and guaranteed return schemes of Post Office Small Savings give you the option of monthly or annual income. One of these is Senior Citizens Savings Scheme (SCSS) and the other is National Savings Monthly Income Scheme (POMIS). Both these schemes are very attractive for investors, where their earnings will be 100% safe and they will also get regular income on it.

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Rs 4,81,200 per year from SCSS

Post Office Senior Citizens Savings Scheme (Senior Citizen Savings SchemeThe government has increased the maximum limit of deposit in this scheme to Rs 30 lakh. You can invest a maximum of Rs 60 lakh in this government scheme through separate accounts with your spouse. The interest received in this scheme is 8.02 percent per annum.

Maximum deposit: Rs 60 lakh
Interest rate: 8.02% per annum
Maturity period: 5 years
Annual interest: Rs 4,81,200
Monthly interest: Rs 40,100
Quarterly Interest: Rs.1,20,300
Total interest in 5 years: Rs 24,06,000

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Rs 1,11,000 per year from POMIS

There is a facility to deposit a maximum of 9 lakh rupees in the Post Office Monthly Income Scheme through a single account. At the same time, you can deposit a maximum of 15 lakh rupees in this scheme through a joint account with your spouse. This scheme is offering an annual interest rate of 7.4 percent.

Interest rate: 7.4% per annum
Maximum investment from joint account: Rs 15 lakh
Annual interest: Rs 1,11,000
Monthly interest: Rs 9250
Total interest in 5 years: Rs 5,55,000

Total annual income

You can earn a maximum annual interest of Rs 4,81,200 from the Post Office Senior Citizens Savings Scheme. Whereas, the maximum annual interest can be Rs 1,11,000 through the Post Office Monthly Income Scheme. Under both the schemes, you will get an interest income of Rs 5,92,200 every year for 5 years. After 5 years, you will get back your total deposit i.e. Rs 60 lakh in SCSS and Rs 15 lakh in POMIS. If you want, you can restart both the schemes after 5 years and avail this benefit for life.

(Source: India Post)