Senior Citizen Savings Scheme: In today’s unpredictable life, people pay full attention to saving money along with earning money. For this, people invest at different places. Adopt many schemes. Some people also keep in mind that when they take retirement from job, they should not face any financial problems. That’s why they invest in such schemes. Which can give them regular income after retirement. For this, the Senior Citizen Saving Scheme of the Post Office is being liked very much by the people. Which has been specially made for senior citizens. Let us know what are the benefits of this scheme.
8.2 percent interest
Different types of schemes are run in post offices for different types of people. The Senior Citizen Savings Scheme run by the Post Office is very good for senior citizens. From January 2024, 8.2 percent interest is being given on this scheme. If it is compared with other national banks then it is more than all of them. If we talk about big banks, SBI is giving 7.50 percent interest on 5 year FD for senior citizens, PNB is giving 7.50 percent interest, ICICI Bank is giving 7.50 percent interest and HDFC Bank is giving 7.50 percent interest.
Maturity period is 5 years
Post Office Senior Citizen Saving Scheme Committee period is 5 years. That means you can get this scheme closed only after 5 years of taking it. If you stop the scheme midway then you will have to pay penalty. This scheme can be started with Rs 1000 and the maximum amount that can be deposited is Rs 30 lakh.
How can you avail benefits?
To take advantage of this post office scheme, you have to do just one thing. You go to your nearest post office and open your SCSS account. For general senior citizens, the age limit under this scheme has been increased to 60 years. So the same government employees can avail the benefit of this scheme after 50 years of VRS.
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