SCSS: In today’s time, it has become necessary for everyone that by investing in a savings scheme for their future, which is useful for themselves and family. At the same time, you can invest such money in many schemes for investment, in which you can also start investing in a particular post office scheme.
Let us tell you that the post office is considered to be the best option for investment. It also offers hefty returns along with a money-back guarantee. After investing in this, people do not have the tension of any fraud. Even today, we will tell you about such a scheme of the post office in which customers will get Rs 1,11,000 every year.
Invest in SCSS
At present, the post office is running many schemes. In which the first choice of millions of people is the Senior Citizen Saving Scheme. Investors get huge returns on the Senior Citizen Saving Scheme of the Post Office. In this government scheme, you are getting the benefit of interest at the rate of 7.4 percent. Along with this, interest rates are reviewed every quarter by the government. So the amount of interest can also change in this.
How much can one invest in SCSS?
In this Senior Citizen Saving Scheme, you have to invest a minimum of 1000 rupees. After this, you can also increase the investment in it in the multiple of 1000. You can invest a maximum of 15 lakhs in this. Its maturity period is 5 years, but account holders can extend this scheme for another 3 years.
This is how you will get Rs 1,11,000 in SCSS
If an investor has deposited Rs 15 lakh i.e. maximum amount in the Senior Citizen Saving Scheme scheme and he is getting the benefit of interest at the rate of 7.4 percent, then according to this he will get Rs 27750 every quarter. At the same time, if we look at its annual amount, then it will become Rs 1,11,000.
These tax exemptions are available in SCSS
The special thing for the same people is that, in this, you can get the benefit of exemption of up to 1.5 lakhs under 80C of the Senior Citizen Saving Scheme Income Tax. At the same time, if the interest you get is more than 50,000 then you will have to pay tax on it.