SCSS Scheme: Return in thousands with one time investment.. The scheme is only for senior citizens.. | Telugu News


Senior Citizens Savings Scheme Rules

SCSS Scheme: In our country, the number of people working in private companies as well as government jobs is high. Many people face financial difficulties after retirement due to reduced income. Currently, as the pension scheme has also been abolished, there is no income after retirement. At the same time costs are increasing due to aging problems. They have to rely on sons and daughters for this. In this context, market experts say that if you invest regularly while working, you can get extraordinary income after retirement.

Income from Senior Citizen Savings Scheme

And if you invest in a senior citizen savings scheme to get returns even after retirement without spending the post-retirement benefits, you can get substantial returns. In this scheme, once Rs. If you invest 10 lakhs, you can get returns at the rate of Rs.20,500 per three months. You can get Rs.82 thousand per year.

These are the benefits of the scheme.

Senior Citizen Saving Scheme is a savings scheme run by the Post Office. Experts say that it is a guaranteed return. In this scheme, senior citizens will get 8.20 percent annual interest. Non market linked scheme. There will be a lock-in period of five years. In this scheme you can get quarterly income in the form of interest. While the minimum deposit in the scheme is Rs 1,000, the maximum deposit is Rs. 30 lakhs. Investing in SCSS can avail benefits of up to Rs.1.50 lakh in a financial year

Only after 55 years..

Any person should be above 55 and below 60 years to join the saving scheme. Retired defense employees above 50 years and below 60 years are also eligible to open SCSS account. Customers get interest every three months. Valid from the date of deposit till 31st March/30th June/30th September/31st December. Tax is levied if the interest earned exceeds Rs.50 thousand in a year.

Income of Rs.82 thousand is like this..

And through SCSS Rs. Senior citizens should invest Rs.10 lakh at once to get an annual income of Rs.82,000. With that investment, they will get an interest of Rs.20,500 per three months. A total of Rs.82 thousand can be obtained for four quarters. The deposited amount can be recovered after the maturity of the scheme. A maximum of Rs.30 lakh can be invested in this scheme. On Rs.30 lakh, you will get interest at the rate of Rs.61,500 every three months. 2,46,000 returns per year. After maturity, principal amount of Rs.30 lakh can be recovered.

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