Post Office Senior Citizen Saving Scheme: If you are also looking for a good investment plan after retirement, then this scheme of post office can prove to be a better option for you.
For people who are doing jobs, the biggest question after retirement is how will they manage their expenses because the salary stops. But the needs and responsibilities of life continue as before or rather they increase even more. In such a situation, people often want to invest in such a place.
Where their money is safe and they keep earning something every month. If you are also looking for a similar scheme after retirement, then this scheme of post office can prove to be a better option for you. Let us tell you the complete information about this scheme.
Invest in this scheme of post office
If you are looking for a safe and stable income after retirement, then the Post Office Senior Citizen Savings Scheme can be a better option for you. You can invest up to Rs 30 lakh in this scheme. If you deposit Rs 30 lakh in lump sum from the retirement fund.
So you will get a total interest of Rs 246000 at the rate of 8.2 percent per annum. This interest is paid on a quarterly basis. That means you will get Rs 61500 every three months. This scheme is quite reliable for earning every month after retirement. Along with this, there is no risk in it.
You will get Rs 20500 as interest every month
If you invest a lump sum of Rs 30 lakh in the Senior Citizen Savings Scheme, then as per the current interest rate, Rs 61500 will be credited to your account every three months. That means you will get around Rs 20500 per month directly. If you let the quarterly interest accumulate instead of withdrawing it, then after five years your investment can reach around Rs 42 lakh.
How to apply in this scheme
To apply for Senior Citizen Savings Scheme, first go to the nearest post office. From there you will get the scheme form which has to be filled and submitted along with documents like Aadhaar card, PAN card and address proof. After all the information is verified, your account will be opened. After this, interest will keep getting transferred to your account at fixed intervals.
