look news india
If you deposit ₹ 30 lakh in the Post Office Senior Citizen Scheme, then you can get around ₹ 2.46 lakh at an annual interest rate of 8.2%. That is, ₹ 20,500 will be deposited in your bank account every month without any hard work. You will get this money like pension every month, so that you will be able to fulfill home expenses, medicines and other needs easily.
The first maximum investment limit under this scheme was ₹ 15 lakh, but now it has been increased to ₹ 30 lakh. That is, now you can invest double amount and get double interest benefits. This is good news for those who want to get a certain monthly income by safely investing large amounts.
All citizens aged 60 and above can avail this scheme. Anyone retired from government or private sector between 55 and 60 years of age can invest in this scheme with certain conditions. This scheme is particularly suitable for those who want to remain self -sufficient even after retirement.
You get good interest in this scheme, but it will also be taxed. If you get more than ₹ 50,000 interest annually, the bank will deduct TDS. But if your entire year’s income is less than the tax limit, then you can fill Form 15H. After that the bank will not cut TDS.
The interest received in this scheme is good, but it is taxed. If you get more than ₹ 50,000 interest annually, the bank will deduct TDS. But if your entire year income is not taxable, then you can get exemption from TDS by filling Form 15H.