Post Office Special Scheme: You will earn ₹82000 from interest only, you have to invest lump sum!
The government runs many schemes for the common people, in which you can invest without risk and get a huge amount on maturity. One such scheme is operated under the post office. In which you can get Rs 82000 from interest alone.
Post Office Special Scheme: A good amount is required to achieve any financial goal. Whether it is buying a house or buying a car, all these require a large account, which you will not be able to achieve with just salary. In such a situation, some people resort to SIP in mutual funds, so that they can achieve their goal in future.
At the same time, some people also think that they do not have to take risk and also get a big amount. Government schemes can be useful for such people. We are telling you about one such scheme, which is operated under the Post Office Small Savings Scheme. You can open it in your nearest post office.
The scheme we are talking about. It can make you earn a lot of money only from interest. If you stay invested in it for five years, then you can earn more than 82 thousand rupees only from interest. Let us know this scheme in detail…
This scheme of post office is great
The scheme we are talking about is known as Senior Citizen Saving Scheme (SCSS). Under this scheme, you can earn a huge income by depositing a lump sum amount. Senior Citizen Saving Scheme is a supportive scheme by the government. It has been specially designed for senior citizens. That is, you can gift this scheme to your father or grandfather.
This scheme is open for people aged 60 years or above. The minimum investment for this scheme is Rs 1000 and the maximum investment limit is Rs 30 lakh. The maturity period under this scheme is for 5 years, but if you want, you can extend it for another 3 years. Talking about interest, 8.2 percent interest is given under this scheme. Its interest is fixed on every quarterly basis and interest is issued on annual basis.
Who can open an account?
Any senior citizen of India can open this account. This account can also be opened in single and joint. Retired civilian employees above 55 years and below 60 years can also invest. However, the condition will be that the investment has to be made within 1 month of receiving retirement benefits. Apart from this, retired defense personnel above 50 years and below 60 years can also invest with the same condition.
What will happen if the account is closed prematurely?
Under this scheme, the benefit of tax exemption is available on annual investment of up to Rs 1.5 lakh under 80C. On the other hand, if you close the account prematurely, then the following consequences can occur.
The account can be closed prematurely at any time after the date of opening.
If the account is closed before 1 year, no interest will be paid and if any interest is paid in the account, it will be recovered from the principal.
If the account is closed after 1 year but before 2 years from the date of opening, an amount equal to 1.5% will be deducted from the principal.
If the account is closed after 2 years but before 5 years, an amount equal to 1% will be deducted from the principal.
The extended account can be closed after the expiry of one year from the date of extension of the account without any deduction.
82 thousand will be earned from interest
If someone invests a lump sum of Rs 20 thousand in this scheme, then he will get a huge amount on the basis of 8.2 percent interest after completion of 5 years maturity. As per the calculation, he will earn ₹82,000 from interest alone and the total amount on maturity will be ₹2,82,000. The interest income on a quarterly basis will be ₹4,099.
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