The Post Office has implemented many useful schemes. Post office is trusted more as it is a bank under central government. From small children to the elderly, there are many projects in the post office. With this Retirement Yojana plan you can earn income of Rs 20,000 per month with one time investment. This way you can spend your retirement comfortably without any worries.
Benefits of the Scheme
This is a useful plan for senior leaders to spend their retirement years without worrying about income. Simply investing under the SCSS scheme is enough. Investment only once. Maturity period of investment is 5 years. After the fixed period, the income will be more than 20,000 rupees every month.
All citizens of India who are at least 60 years of age can invest in this yojana and get returns. A senior citizen can invest a maximum of Rs 30 lakh under this scheme. Earlier this amount was limited to 15 lakhs. Now it has been increased to 30 lakh rupees
The post office will offer 8.5 percent interest per annum to senior citizens investing under SCSS. If an investment of Rs 30 lakh is made, the maturity period will be 5 years.
Criteria:
Employees who retire between 55 to 60 years can invest under this yojana. 30 lakh rupees will get an annual interest of 2,46,000 rupees. That means you will get 20,500 rupees per month. Citizens who earn income through interest under this scheme have to pay income tax.
For more information about this scheme visit your local post office bank.