Post Office Big Update : सिर्फ 1000 रुपये से खोलें यह खाता, 5 साल में मिलेंगे 14 लाख रुपये

Post Office Big Update: Open this account with just Rs 1000, you will get Rs 14 lakh in 5 years

big post office update

This account can be opened in the post office with just Rs 1000. This account offers investors an opportunity to get an amount of Rs 14 Lakhs in 5 years. The post office offers various investment schemes through which investors can invest their money in safe instruments and earn handsome returns. One such scheme is the “Senior Citizen Savings Scheme” under which the Post Office (India Post) facilitates investors to get effective returns on their investments.

If you also want to make a safe investment, then the Post Office Senior Citizen Savings Scheme available in the post office can prove to be suitable for you. At present, investors in this scheme are getting 7.4 per cent interest on their investment. Senior Citizen Savings Scheme (SCSS) offered by the Post Office (India Post) proves to be more beneficial for retired investors as they can invest their hard earned money in a safe scheme that can provide excellent returns!

Additionally, investors above the age of 60 are allowed to open accounts only in the Senior Citizens Savings Scheme (SCSS). Investors opting for Voluntary Retirement Scheme (VRS) can also open their account in Senior Citizen Savings Scheme of the Post Office. You can start investing in this scheme with a minimum amount of less than Rs 1000!

In the Post Office Senior Citizen Savings Scheme, the investor has to make a lump sum investment of Rs 10 lakh, so that he can get Rs 14 lakh in 5 years. After five years, investors will get Rs 14,28,964 at 7.4 per cent interest rate. This will give him an interest of Rs 4,28,964 on the investment. An important point to note here is that investors cannot keep more than Rs 15 lakh in their Senior Citizen Savings Account.

In Senior Citizen Savings Scheme, investors with an amount of less than Rs 1 lakh can make a cash payment in this scheme. The scheme comes under a maturity period of five years, however, investors can extend the maturity period by another three years. Investors need to visit the post office to open an account in the Senior Citizen Savings Scheme (SCSS), which also offers several tax exemption benefits. Instead, investment in the scheme is exempted under section 80C of the Income Tax Act.

According to the information available on the official website of the Post Office (India Post) on the amount deposited in the Senior Citizen Savings Scheme (SCSS), at present you are getting interest at the rate of 7.4 percent per annum! This means that you are getting higher returns in this scheme as compared to other small savings schemes!

In this scheme of post office, you can open an account for 1000 rupees. You have to note that you can deposit a maximum of Rs 15 lakh in this scheme! Investors under the Senior Citizen Savings Scheme can avail tax exemption under Section 80C of the Income Tax Act 1961!

Your deposit maturity in Post Office SCSS (Post Office SCSS) is completed in 5 years! However, you can extend it for another three years! For this you have to apply in the post office (India Post)! You can close the account even before maturity. After opening the post office account 1.5% of the deposit will be deducted, if you close it after 2 years then 1% of the deposit will be deducted.

You are right, there is no official way yet to open Senior Citizen Savings Scheme online. Many government-backed schemes, including the Senior Citizens Savings Scheme (SCSS), are yet to switch to the online process. So, you have to fill the physical form and submit it to the post office (India Post). This situation also applies to many other schemes of the post office, where still you have to follow the offline process.

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