SCC Account Retirement Benefits Scheme: If you are retired and want to arrange regular income in old age, then you can take advantage of the special facility of Senior Citizens Savings Scheme. You can arrange your regular income by safely investing your retirement fund in this scheme. According to the maximum deposit limit in this scheme, you can earn 60 thousand interest every 3 months. If you are a retired couple, then in that condition also open a separate account for your spouse, that is, you can get double benefit from 2 accounts.
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SCC: Retirement Benefit Program
Senior Citizens Savings Scheme is a government retirement benefit program. Senior citizens can invest in this account. If you deposit in Senior Citizens Savings Scheme (SCSS) account, you get interest fixed by the government on your deposit. Interest is paid on quarterly basis. This interest can be used for regular income. The entire amount deposited by you will be returned after maturity. After which you can then open this account and take advantage of regular income.
SIP in Top Scheme: 5 mutual funds with 7 times return in 10 years, money increased by 22 to 25% annually in SIP, all got top rating
Small savings giving highest interest
SCSS is the highest interest paying small savings scheme of the post office. 8.2 percent annual interest is being given in this scheme. Apart from this, this much interest is available only on Sukanya Scheme. In case of money deposited in post office, 100 percent of the amount is safe. Senior citizens living in India can invest a lump sum in this scheme individually or jointly and get regular income along with tax benefits.
SCC: Deposit Rules
A maximum of Rs 30 lakh can be invested in the Senior Citizen Savings Scheme through a single account. Whereas it is necessary to deposit at least Rs 1000 in this account. If the amount is less than one lakh rupees, a person can deposit money in cash. When the deposit amount exceeds Rs 1 lakh, the investor should make payment by cheque.
SIP King: SBI Mutual Fund’s scheme gave SIP returns of more than 20% per annum in 5, 10 and 15 years, lump sum investment increased by 18 times.
SCC: 2 accounts in one house also possible
In Senior Citizens Savings Scheme, you can open a single account or a joint account with your wife. Apart from this, if both husband and wife are eligible for this, then they can also open 2 separate accounts. A maximum of Rs 30 lakh can be deposited in a single account or in a joint account with the wife and a maximum of Rs 60 lakh can be deposited in two separate accounts.
SCC: Calculation of Annual Interest
Maximum deposit in single account: Rs 30 lakh
Interest rate: 8.2 percent per annum
Maturity period: 5 years
Quarterly interest: Rs 60,150
Annual interest: Rs 2,40,600
Total interest in 5 years: Rs 12,03,000
Total returns: Rs 42,03,000 lakh
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SCC: How much benefit from 2 different accounts
Maximum deposit in 2 accounts: Rs 60 lakh
Interest rate: 8.2 percent per annum
Maturity period: 5 years
Quarterly interest: Rs 1,20,300
Annual interest: Rs 4,81,200
Total interest in 5 years: 24,06,000
Total returns: Rs 84,06,000 lakh
