Post Office Scheme: The money deposited in the savings scheme present in the post office is safe, because this scheme is directly of the Government of India. There are two schemes in it which are offering the highest interest.
Post Office Scheme: For those who believe in investing without taking risk, there are two savings schemes of the post office – Senior Citizen Saving Scheme and Sukanya Samriddhi Yojana, in which the highest interest is being offered. Investment in the Senior Citizen Saving Scheme of the Post Office gives 8.20 percent interest which is calculated and paid every quarter. Apart from this, there is Sukanya Samriddhi Account Scheme of the Post Office on which 8.20% interest is being offered annually.
Who can open an account
Under the Senior Citizen Saving Account Scheme, persons above 60 years of age can open an account. Also, retired civilian employees above 55 years of age but below 60 years of age can also invest in this scheme, provided the investment is made within 1 month from the date of receiving retirement benefits. Retired defence personnel above 50 but below 60 years of age are also eligible if they invest within one month of receiving retirement benefits.
Post Office Sukanya Samriddhi Account Parents can open this account in the name of their daughter below 10 years of age. Only one account can be opened in the name of a girl at any one place in India – either at a post office or a bank. Accounts can be opened for a maximum of two daughters in a family.
Understand the returns of both like this
According to the official website of India Post, if you invest Rs 10,000 in the Post Office Senior Citizen Savings Scheme, you will be paid Rs 205 as interest every quarter. On maturity (after five years) on the same amount, you will get a total interest of Rs 4,100. Apart from this, suppose you invest Rs 1 lakh in this scheme, then on maturity you will get a return of ₹41,000.
The return on investment in the Sukanya Samriddhi Scheme of the post office can be understood with an example. If the daughter’s age is 10 years today i.e. in 2025 and you invest Rs 1 lakh annually, then according to the calculation, you will get a total amount of ₹47,88,079 on maturity i.e. in 2046. That is, you invest ₹15,00,000 in it and you get ₹32,88,079 as a return.
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