Senior Citizens Savings Scheme: In today’s era, many people invest in savings schemes. Many people invest the money they get after retirement in different places. So that they do not have to depend on anyone. And can live a good life. Nowadays, there are many schemes for this. In which investment can be made. But many people nowadays want to invest in such schemes.
In which they can get good returns. If you are also thinking of investing in such a scheme after retirement. Then the Post Office Senior Citizen Savings Scheme can prove to be very useful for you. What are the eligibility criteria for this scheme. And how can you apply. Let us tell you.
These people can apply in the scheme
Senior Citizen Savings Scheme has been brought especially for senior citizens. Senior citizens can get good returns by investing in this scheme of the post office. To invest in the scheme, the age of the applicant should be at least 60 years. But if a government employee has taken voluntary retirement i.e. VRS at the age of 50 years or more, then he can also invest in this scheme.
How much money can you invest?
The minimum limit for investing in Senior Citizen Savings Scheme is Rs 1000. Whereas the maximum limit is Rs 30 lakh. Let us tell you that earlier the limit for investing in this scheme was fixed up to Rs 15 lakh only. And any person can open an account in it by depositing an amount of less than one lakh rupees.
So he can also deposit cash. But if anyone wants to deposit an amount of more than ₹ 100000. Then he will have to give a cheque. Two people can also open an account under the scheme. But the total amount of both should not exceed 30 lakhs.
The interest rate is 8.2%
You also get a good amount of interest by investing in Senior Citizen Savings Scheme. Currently, the interest rate in this scheme is 8.2 percent. This scheme matures after 5 years. But if someone wants, he can make it for 3 more years. In the scheme, you also get a tax exemption of up to Rs 1.5 lakh under Section 80c of Income Tax.
How to apply?
To apply for the Senior Citizen Savings Scheme, anyone can go to their nearest post office. There, one has to get the form related to the scheme. Along with filling the complete information in it, the related documents also have to be submitted.
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