Post Office Scheme: Post Office Scheme: Often government schemes come and stay away from common people. Lack of information is considered to be the main reason for this. But we here keep introducing you to many schemes including post office. Good returns are available in the Post Office’s Senior Citizens Savings Scheme.
This scheme is very popular in the matter of investment. In terms of good returns, this scheme is considered almost equal to the Sukanya Samriddhi Scheme. Earlier, the annual interest in this scheme was 7.4 percent, but now it has become 7.6 percent.
How will you benefit by the Post Office Scheme?
People get many types of benefits in the post office scheme. But here it is being talked about, the Senior Citizens Savings Scheme. The maturity of which is 5 years. Whose name is this scheme, he gets exemption on investment of Rs 1.5 lakh under section 80C of income tax.
In this scheme, a senior citizen has to invest a minimum of Rs.1000. But if you want to deposit more, then maximum 15 lakhs can be invested.
Investors get 7.6 percent interest rate in this scheme. Looking at FD, this scheme gives more interest.
The Maturity Period in this Post Office Scheme is 5 years
The maturity period of this plan is of 5 years. You can also increase it later, which is at least 3 years. In this scheme, the investor is also given the facility of premature closure of the account. But this plan has to be run for at least 1 year.
On premature closure of this Post Office Scheme, 1.5 percent is deducted from the deposit. If you invest 10 lakhs in this scheme then you can get Rs 14,28,964 after 5 years with compound interest of 7.6 percent.
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