Post Office SCSS: Do you also want that your hard earned money is safe and you get regular income from it? Then the Senior Citizen Savings Scheme (SCSS) of the post office can be a great option for you. This scheme is specially designed for senior citizens, so that they can get financial security after retirement.
The most special thing about this scheme is that you get interest every three months. That is, you will get interest four times a year on your deposited amount. This interest is deposited directly in your post office account, so that you keep getting regular income.
Now let’s talk about who can invest in this scheme. All senior citizens of 60 years of age or above can invest in this scheme. Apart from this, government employees aged 55 to 60 years can also invest in this scheme after retirement.
If you are wondering how much investment will have to be made in this scheme, then know that the minimum investment in it starts from Rs 1000. At the same time, the maximum investment limit is Rs 30 lakh. You can invest according to your need and budget.
The duration of this scheme is 5 years. That is, you have to keep your deposited amount for at least 5 years. However, if you need, you can extend it by 3 more years.
If you withdraw money before 5 years, you may have to pay some penalty. Therefore, try to keep your amount for 5 years.
Now the most important thing, if you want to get Rs 60,000 every three months from this scheme, then you have to invest Rs 30 lakh. On this you will get Rs 60,000 every three months at an interest rate of 8.2% per annum.
So, if you also want to make your retirement safe and happy, then Post Office Senior Citizen Savings Scheme is a great option for you.
Fact Check
Interest Rate: The interest rate of Senior Citizen Savings Scheme is changed by the government from time to time. Therefore, check the latest interest rate before investing.
Terms and Conditions: Read all the terms and conditions associated with this scheme carefully.
More Information: You can get more information about this scheme from the post office website or any post office branch.
