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Lifestyle Update: If you are working, then news like this is quite important to you, at least for older people who wish to spend old age in comfort.
A prudent investment after retirement is important to make sure a stable financial position and to sustain a comparatively much better life. The government has especially launched some saving schemes in the names of old age citizens. These bring many benefits necessary for them along with relief to the retirees who want to maximize their savings. So, know about this scheme-
Why consider the Post Office Senior Citizen Savings Scheme?
The most sought-after one is the Post Office Senior Citizen Savings Scheme. This scheme is especially preferred for its regular income, safe options of investment, and tax benefits.
Accessible investing: You can start investing as less as Rs 1,000, which would work well for many. They have a huge growth potential and the maximum investment limit is Rs 30 lakh.
Eligibility: The scheme is open to people who have crossed 60 years of age. Now, you can even open an account if you retired under the Voluntary Retirement Scheme (VRS) between the ages of 55 and 60 or are retired defence personnel above 50 years of age.
Joint accounts: You can open a joint account along with your spouse or another eligible member, which adds flexibility in planning finances.
Pretty rate of return: 8.2% interest rate works well on a maximum investment of Rs 30 lakh to bring around an annual interest of around Rs 2.46 lakh, which would work out to around Rs 20,000 a month.
