There are many advantages of putting resources into the plans of the Indian Postal Department. Indeed, even today there is an enormous segment in the country who likes to contribute without hazard free venture.
Indian Post continues to concoct different plans for such individuals. After Retirement Planning, the greater part of individuals need to put their cash in a protected spot, which has immaterial gamble alongside better returns.
In such a circumstance, this plan of the Post Office is of extraordinary use to you. The name of this plan is Post Office Senior Citizen Saving Scheme. The exceptional thing about this plan is that by putting resources into it, you improve return (Less Investment More Return). So let us let you know the extraordinary things of this plan
Here are the significant things connected with this plan
You should be over 60 years old to put resources into this plan.
Under this plan, you get an interest rate of 7.4 percent.
In this plan, the investor can contribute somewhere around 1 thousand and most extreme 5 thousand rupees.
You can put resources into this plan for an aggregate of 5 years.
Individuals having VRS (Voluntary Retirement Scheme) can likewise put resources into it.
By putting resources into this plan, you will get exclusion under area 80C of Income Tax.You will get this much return under the plan
Allow us to let you know that by putting resources into this plan, you can get returns of up to 14 lakhs in 5 years. If a senior resident puts Rs 10 lakh in this conspire at the same time, following 5 years an arrival of Rs 14,28,964 will be given on build interest of 7.4 percent.
Later on you can broaden this venture for an additional 3 years. Simultaneously, the post office permits you to close the account even before maturity. If you close the account following 1 year of opening the account, 1.5% of the store sum will be deducted. Simultaneously, following 2 years 1% sum will be deducted.
