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Retail investors have suffered huge losses due to the huge fall in the stock market in the last few days. Most investors say that they have lost everything they had earned during the last 6 months or 1 year. According to data, investors have suffered a loss of Rs 40 lakh crore in the last one month. In such a situation, many people are now thinking of investing in low-risk places. If you are also thinking of investing in a similar scheme, then today we are giving you information about a government scheme, from which you can earn lakhs of rupees.
This scheme is related to Small Saving Schemes and operates under the Post Office. Under this scheme, more than Rs 12 lakh will be earned from interest alone. Also the risk will also be negligible. At the same time, tax benefits are also given under this scheme. The maximum limit of investment in this is Rs 30 lakh. Any senior citizen can invest in this scheme. Actually, we are talking about Senior Citizen Saving Scheme, under which you can earn lakhs of rupees. Let us know how?
Post Office Senior Citizen Savings Scheme is a deposit scheme. In this a fixed amount is invested for 5 years. Senior citizens can invest up to Rs 30 lakh in this scheme, while the minimum investment limit is Rs 1000. At present 8.2 percent annual interest is given on SCSS. However, the interest is revised on a quarterly basis.
How to earn 12 lakhs from interest?
If you invest Rs 30 lakh annually in this scheme, then in 5 years you will get interest of Rs 12,30,000 at the rate of 8.2 percent. Every quarter Rs 61,500 will come to your account as interest. In such a situation, after 5 years you will get a total of Rs 42 lakh 30 thousand as maturity amount.
Whereas if you deposit Rs 15 lakh in this scheme for 5 years, then according to the current interest rate of 8.2 percent, you will get Rs 6 lakh 15 thousand only from interest in 5 years. If you calculate interest on quarterly basis, you will get interest of Rs 30,750 every three months. In this way, by adding Rs 15 lakh and the interest amount, you will get a total of Rs 21 lakh 15 thousand as maturity amount.
Who can get this benefit?
Under the Senior Citizen Savings Scheme, any person aged 60 years or above can avail the benefits of this scheme. This scheme matures after 5 years. If you want to continue the benefits of this scheme even after 5 years, then after the maturity of the deposit amount, you can extend the account period for three years. SCSS provides tax exemption under section 80C.
