look news india
Post Office Monthly Income Scheme: Investing in various post office schemes is considered safe. There is a post office scheme in which you get Rs 20,500 every month. Getting a regular monthly income after retirement can be a challenge. Senior Citizens Savings Scheme (SCSS) is a scheme that will give you a fixed income every month after the time of retirement. You can earn Rs 20,500 per month for five years.
Earlier the maximum investment limit in this scheme was Rs 15 lakh, which was later increased to Rs 30 lakh. If you invest Rs 30 lakh in this scheme, you will get around Rs 2,46,000 annually as interest. This account will earn you around Rs 20,500 per month. This money will be deposited directly into your bank account.
Who can invest in this scheme
People of 60 years of age or above can avail the benefit of this scheme. Apart from this, retired people between the age of 55 to 60 years can also open an account. The interest rate in this scheme is 8.2 percent. It gives higher returns than any other scheme.
This scheme Senior Citizen Savings Scheme can be a safe and profitable option for monthly income after retirement.