Life turns out to be more difficult when there is no flow of money every month after retirement. Other things such as age and financial stress lead towards mental stress. Well, we have a way today to tell you that all you have to do is invest once after retirement and for the rest of your life, two thousand rupees will keep coming to you every month.
The name of this scheme is SCSS or Senior Citizen Savings Scheme available through post office and it is a savings scheme run with the support of the government. The benefit of this scheme is that it has an attractive interest rate of 8.2 percent. The age limit of people who can apply in this scheme is 60 years and above.
This is how you will get monthly money
Now, we tell you how to earn 20,000 rupees monthly. So, if 30 lakh rupees of retirement amount is invested in the Senior Citizen Savings Scheme, it fetches annual interest of Rs 2,46,000. Divide it further into monthly payments, it comes to 20500. Now, with such interest, you can live comfortably because you will have savings in the bank as well.
Where would one open an account?
People can also avail of this scheme by opting for voluntary retirement between the age of 55 and 60. Anyone who would wish to open an SCSS account in this scheme can visit the nearest post office. Now, regarding this, any income that is accrued from this scheme will also be taxed. So, take care of your tax before investing in this scheme.
