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Post Office Schemes: As soon as the daughter is born, the father starts worrying about her education and marriage. This is why sensible and aware people start planning for the future of their daughter as soon as she is born. Apart from this, elderly people are also very worried about money after retirement because they do not have any other source of income apart from their savings. In such a situation, it is very important that their deposits are invested in a place where their deposits are completely safe and they also get guaranteed interest on them.
Many schemes are run by the government to remove the worries about the future of daughters and to make the elderly financially strong. Here we are going to tell you about two such schemes which are run to provide the bright future of daughters and the benefit of better interest rates to the elderly. The government is giving 8.2 percent interest in both these schemes. The benefits of both these schemes can be availed from any post office or authorized bank.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is run by the government for daughters. If your daughter's age is less than 10 years then you can invest in this scheme. This scheme matures after 21 years, but in this the daughter's parents have to deposit the amount for 15 years. A minimum of Rs 250 and a maximum of Rs 1.5 lakh can be invested annually in this. The sooner you start investing in this scheme, the sooner you will be able to save money for your daughter. At present interest is being given on it at the rate of 8.2 percent. In such a situation, if you deposit Rs 1.5 lakh annually for 15 years, then at the rate of 8.2 percent you can collect Rs 69,27,578 i.e. about Rs 70 lakh on maturity.
Senior Citizen Savings Scheme
If you are retired and want to invest in a scheme with better interest rates, then you can invest in a senior citizen savings scheme. Any person who is 60 years of age or above can invest in this scheme. At the same time, civil sector government employees taking VRS and people retiring from defense are given age relaxation with certain conditions. Senior citizens can invest up to a maximum of Rs 30,00,000 and avail better interest rates on deposits. The minimum investment limit is Rs 1000.
In this scheme also the government gives 8.2 percent interest. In this account you can deposit money for a maximum of 5 years at a time and can extend that account for 3 years at a time. If you deposit Rs 30,00,000 in SCSS account, then in 5 years at 8.2 percent interest rate, you can earn up to Rs 12,30,000 from interest alone. In this way, the maturity amount after 5 years will be Rs 42,30,000.