Post Office Scheme: Senior Citizens are getting more interest than FD in this scheme of Post Office...

We all should invest in any scheme. We should keep many things in mind while investing. Let us tell you that if you do not invest cautiously then you may have to face risk. Actually, it is believed that we should invest from the very beginning of the job.

After some time, we also worry a lot about our retirement. Apart from this, we should also invest somewhere for our parents. Today we will tell you about the Senior Citizen Scheme of the Post Office. In this scheme, you get the benefit of higher interest compared to the bank. We are talking about the Post Office Senior Citizen Saving Scheme. In this scheme, you get the benefit of higher interest as compared to the Senior Citizen FD of the bank.

How much to invest
Let us tell you that you can start investing in this scheme with Rs 1,000. Today only a maximum of Rs 30 lakh can be invested in this scheme. Apart from this, the customer also gets the benefit of tax benefit in this scheme. In this scheme, you can open a single or joint account after 60 years.

Maturity period
In this scheme, you have to invest only for 5 years. If an account holder closes this account before maturity, he will have to pay a penalty. You can open a savings account for Senior Citizen Saving Scheme in any post office near you. Whenever you open an account for this scheme, your age should be between 55 years to 60 years.

Rate of interest
In this scheme, you get more interest (Post Office SCSS Scheme Interest Rate) as compared to Bank Senior Citizen FD. Many banks in the country offer interest between 7 percent to 7.5 percent on senior citizen FD. In this scheme, the customer gets 8.2 percent interest.
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