Business News Desk, As people grow older and reach retirement age, they usually live on their savings. People need money when they retire to live a good and comfortable life. Today we are going to talk about a scheme that is specially designed for senior citizens. This scheme is Post Office Senior Citizen Savings Account. This scheme is run by the government. It gives more interest than other savings schemes.
You can start investing from Rs 1000
The special thing about the Post Office Senior Citizen Scheme is that you can start your investment from Rs 1,000. This is the safest investment option for senior citizens. This will also give you regular income and will also fulfill your money needs after retirement. Post Office Senior Citizen Savings Scheme is for those who are above 60 years of age. Or those who have retired at the age of 55 but their age is less than 60 years. They can open an account under Special VRS. Apart from this, employees retired from defense service can also open an account at the age of 50. You can also open this account with your spouse.
how to apply
Senior citizens can open SCSS account in any bank or post office. To open an account, senior citizens have to deposit a minimum of Rs 1,000 and a maximum of Rs 30 lakh. Money can be deposited in the account in multiples of Rs 1,000. This cannot exceed Rs 30 lakh.
Return
This scheme SCSS is giving an annual interest of 8.2 percent. If a person invests around Rs 30 lakh, he will get an annual interest of Rs 2.46 lakh, which is about Rs 20,000 per month.
