Senior Citizens Savings Scheme , post office fd calculator , post office rd calculator , rd calculator year wise , rd calculator in india
The biggest advantage of this scheme is that in this interest is given to you quarterly and its interest rate is also 8.7 percent, that is, you will get double profit on investment in this scheme. Senior Citizen Saving Scheme of Post Office is for senior citizens in which you get good returns.
Senior Citizen Saving Scheme account can be opened by any person above 60 years and the best thing about this scheme is that you can get your account transferred from one post office to another post office whenever you want. You can also make a nominee under this scheme.
Contents
- 1 How much can be invested in Senior Citizen Savings Scheme.
- 2 When will you be able to withdraw money from the account?
- 3 How to open Senior Citizen Savings Scheme Account?
- 4 Senior Citizen Saving Scheme SCSS
- 5 How much can be invested in Senior Citizen Savings Scheme.
- 6 How to open Senior Citizen Savings Scheme Account?
- 7 Comparison between Bajaj Finance Fixed Deposit and Senior Citizen Savings Scheme (SCSS)
- 8 Benefits of Senior Citizen Savings Scheme (SCSS)
How much can be invested in Senior Citizen Savings Scheme.
Another good thing about this scheme is that you can invest only up to half a lakh rupees under this scheme, and even if you open more than one account, you will not invest more than 15 lakh rupees in total. can do
| If you want to answer any question with us then you can follow me on the link below | |
| You can solve all problem on follow us. Thank you so much for staying connected with us. | |
| Follow On INSTAGRAM | Click Here |
| Follow On Facebook | Click Here |
| Follow On Twitter | Click Here |
When will you be able to withdraw money from the account?
By the way, the maturity of Senior Citizen Saving Scheme is of 5 years, you can withdraw even after the maturity of the scheme i.e. one year. If you want to withdraw money under the scheme at the stage of premature withdrawal, then 1.5 percent of the deposit amount is charged, while after 2 years, 1% is deducted from you. So investing in this scheme can be a profitable deal for you.
How to open Senior Citizen Savings Scheme Account?
If you want to open your Senior Citizen Saving Scheme account, then first of all your age should be 60 years or more, if your age then you can apply by visiting your nearest Indian post office.
Senior Citizen Saving Scheme SCSS
The biggest advantage of this scheme is that in this interest is given to you quarterly and its interest rate is also 8.7 percent, that is, you will get double profit on investment in this scheme. Senior Citizen Saving Scheme of Post Office is for senior citizens in which you get good returns.
Senior Citizen Saving Scheme account can be opened by any person above 60 years and the best thing about this scheme is that you can get your account transferred from one post office to another post office whenever you want. You can also make a nominee under this scheme.
-
-
-
CSC Friends DGP 4.4 Version Software Download Learn the entire process of Pradhan Mantri Awas Yojana 2021
How much can be invested in Senior Citizen Savings Scheme.
Another good thing about this scheme is that you can invest only up to half a lakh rupees under this scheme, and even if you open more than one account, you will not invest more than 15 lakh rupees in total. can do .
When will you be able to withdraw money from the account?
By the way, the maturity of Senior Citizen Saving Scheme is of 5 years, you can withdraw even after the maturity of the scheme i.e. one year. If you want to withdraw money under the scheme at the stage of premature withdrawal, then 1.5 percent of the deposit amount is charged, while after 2 years, 1% is deducted from you. So investing in this scheme can be a profitable deal for you.
How to open Senior Citizen Savings Scheme Account?
If you want to open your Senior Citizen Saving Scheme account, then first of all your age should be 60 years or more, if your age then you can apply by visiting your nearest Indian post office.
Comparison between Bajaj Finance Fixed Deposit and Senior Citizen Savings Scheme (SCSS)
| Features | Bajaj Finance Fixed Deposit | SCSS |
| Interest rate | up to 6.75% | 7.4% (current rate for the 2nd quarter of FY 2020-21) |
| Tenor | Flexible ranging from 12 months to 60 months. | Fixed at 5 years with a one-time extension up to 3 years |
| Eligibility | It is also available for Hindu Undivided family | It is not available for HUF |
| Interest payout frequency | Flexible | Annually |
| Loan facility | Loan against FD available | Loan facility not available |
Benefits of Senior Citizen Savings Scheme (SCSS)
- ✔️ Being government-backed, SCSS offers investment safety.
- ✔️It offers reasonable returns on your investment.
- ✔️In vestments made qualify for a tax deduction of up to Rs. 1.5 lakh under Section 80C. However, income tax is deducted on the interest earned.
- ✔️ It is extremely easy to open, operate, and transfer an SCSS account at any authorised bank or post office in India.
- ✔️ It offers the flexibility to extend the tenor. You can start with a tenor of five years, and at maturity, extend it up to three more years only.
- ✔️ You can calculate the SCSS interest rate easily, by computing the compound interest on deposit amount as per the SCSS interest rate for that quarter. The payment is released annually to the savings account of the account holder. Senior Citizens Savings Scheme , Senior Citizens Savings Scheme , Senior Citizens Savings Scheme , post office fd calculator , post office fd calculator , post office fd calculator , post office rd calculator , post office rd calculator , rd calculator year wise , rd calculator year wise , rd calculator year wise , rd calculator in india , rd calculator in india , rd calculator in india, rd calculator year wise , rd calculator in india
| Friends, to update, you will answer any question in your mind, you will be disabled forever, you will ask what is your answer. |
Note: – In the same way, we will first give information about new or old government schemes launched by the central government and state government on this website.cscdigitalsevasolutions.com If you give through, then do not forget to follow our website.
If you liked this article then do like and share it.
Thanks for reading this article till the end…
Posted by Sanjit Gupta
| Join Our Group For All Information And Update, Also Follow me For Latest Information | |
| Whatsapp Group Join Now | ↗️Click Here |
| Facebook Page | ↗️Click Here |
| ↗️Click Here | |
| Telegram Channel Techguptaji | ↗️Click Here |
| Telegram Channel Sarkari Yojana | ↗️Click Here |
| ↗️Click Here | |
| Website | ↗️Click Here |
Highlighting the liquidity angle while comparing PMVVY with SCSS; SEBI registered tax and invtment expert Jitendra Solanki said, “For those investors who want liquidity, SCSS is advisable for them as lock-in period in SCSS is five years while in PMVVY, one’s money gets blocked for 10 years and one can’t fish out …
2) Pradhan Mantri Vaya Vandana Yojana (PMVVY): Thus is a 10-year product. One can invest up to ₹15 in this scheme. Interest rates are currently 7.40% p.a. Opt for the monthly payouts. One can buy this in most branches of Life Insurance Corp or online.
Top 10 Public Sector Banks Providing Higher Returns On FDs For Senior Citizens
Sr No. Banks Interest Rate
1 Bank of Baroda 6.25%
2 State Bank of India 6.20%
3 Union Bank of India 6.10%
4 Canara Bank 6.00%
Senior Citizen Savings Scheme is a government-backed scheme. The current interest rate applicable to SCSS is 7.4%. Tax benefits under Section 80C are available but interest is fully taxable.
Senior Citizen Savings Scheme (SCSS)
Not only is the rate of interest offered on this scheme comparatively higher than that of the regular savings and fixed deposit bank accounts, but you also get tax benefits up to Rs 1.5 lakh per year under Section 80C of the IT Act, 1961.
Yogesh Kumar