Post office scheme: Fadu scheme of Post Office, investment of only ₹ 5 lakh; Income of ₹ 10 thousand every 3 months
Post office scheme : post office scheme senior citizens [senior citizen] Provides remarkable financial savings scheme (Post office scheme for senior citizen). It is available with assurance and is safe.
One such scheme is the Senior Citizen Savings Scheme (SCSS), in which investors get an assured interest of 8% per annum on the invested amount. The most important thing is that the Post Office Scheme can be started from one thousand rupees. The maximum amount of investment should not exceed Rs 30 lakh now.
Interest rates change every quarter
Post office scheme : If you are also planning for retirement, then SCSS can be a better option for you. This is because there can be an assured return on the funding amount. Along with this, the benefit of tax deduction under section 80C is to be availed. Talking about hobby rates, it is adjusted every quarter.
Investment of ₹ 5 lakh, will get ₹ 10 thousand every 3 months
In this post office scheme, the investor gets a profit of Rs 10,000 every 3 months on an investment of Rs 5 lakh. As per January 1, 2023, 8 percent interest is being received on this scheme. In this context, an investment of Rs 5 lakh becomes Rs 7 lakh in 5 years. That is, the amount received from interest on the investment amount is Rs 2 lakh.
Many benefits of this post office scheme
- This account can be transferred anywhere in India.
- By investing in the scheme, you can declare a tax exemption of Rs 1.5 lakh annually under Section 80C.
- Interest is paid every 3 months under the scheme.
- Interest is credited to your account on the first day of every April, July, October and January.
Who is this plan for?
If you are looking for a scheme with assured income as well as safe investment, then you can go for Senior Citizen Savings Scheme (SCSS). This scheme has been prepared keeping in mind the senior citizens. Any person whose age is 60 years or more can invest in this scheme and earn profit. However, age relaxation is given to civil sector government employees and defense retirees opting for VRS status under certain conditions.
- Senior Residents above 60 years of age
- Citizens opting for VRS between 55 and 60 years
- Retired Defense Personnel up to the age of 50 years
Account opening process
Post Office Scheme: To open this account in post office or government/private banks, you will have to fill a form, besides this form will have to be posted along with passport size photograph, identity proof and copies of various KYC documents. The advantage of starting an account with a bank is that the interest on the deposit can be credited immediately at your bank branch. Account statements are sent to the depositors through post or email.