Wed, Nov 13, 2024
Comparing the Senior Citizen Savings Scheme (SCSS) and Post Office Monthly Income Scheme (MIS) to determine which offers higher returns on a Rs 7 lakh investment for 5 years, with secure, government-backed payouts.
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Fri, Aug 30, 2024
SCSS: The scheme provides 8.2 per cent per annum interest. The minimum one-time investment in the scheme is Rs 1000, while the maximum is Rs 30 lakh.
Thu, Aug 22, 2024
SCSS: To take benefit of this scheme, one should be 60 years old or more than that. At the same time, civil sector government employees taking VRS and people retiring from defense are given age relaxation with certain conditions.
Fri, Jun 07, 2024
Senior Citizen Savings Scheme (SCSS) is a small savings, guaranteed return scheme run by the post office, where senior citizens get 8.20 per cent yearly interest. The non-market-linked scheme has a lock-in period of five years, where one makes a one-time investment to get a quarterly income in the form of interest. The minimum deposit in the scheme is Rs 1,000 and in multiples of Rs 1,000, while the maximum deposit is Rs 30 lakh. One gets the principal amount back on maturity.
Tue, Mar 05, 2024
Senior Citizens Savings Scheme Account (SCSS) provides guaranteed returns in the form of quarterly interest to senior citizens. They get 8.2 per cent interest annually under this retirement-focussed scheme, which also provides tax exemption on deposits under Section 80C of the Income Tax Act. One can start a SCSS account with a minimum one-time investment of Rs 1000 or with a maximum of Rs 30 lakh. The scheme can provide senior citizens with a quarterly interest of Rs 61,500 if they invest a certain amount. Know calculations-
Mon, Feb 26, 2024
Post office senior citizen scheme interest rate: Investment in a Senior Citizen Savings Scheme (SCSS) account at the post office yields a return of 8.2 per cent per annum, compounded every quarter, for the three-month period ending March 31, 2024.
Sun, Jan 21, 2024
Post office Investment Tips: If you are one of those people who instead of investing in market-linked schemes, prefer to invest in investment options with guaranteed returns, we will tell you about Post Office schemes where your money is safe. Know about Post Office schemes which can help you get good returns in just 5 years.
Thu, Sep 29, 2022
The government on Thursday raised rates on some small savings schemes by up to 30 basis points (bps) in line with the hardening interest rate in the economy.
Wed, Jun 22, 2022
The Senior Citizens' Savings Scheme (SCSS) is introduced by government that helps senior citizens to save money for their retirement and receive quarterly interest payments. Senior citizens can create this account at any bank or post office singly or jointly with their spouse. It has a 5-year maturity period that can be extended up to 3 more years (5+3= 8 years).
Wed, Apr 27, 2022
Start Investing with Rs 100 per month and get good return in Post office Recurring Deposit. The interest rates of RD depend on the tenure of the deposit. A three of five year RD will definitely fetch a higher interest rate. If you want Rs 20.85 lakh after 5 years at an interest rate of 6.8, the investment amount should be Rs 15 lakh over 5 years.
Fri, Oct 01, 2021
October 1 is celebrated as International day of Older Persons all over the world. This International day of Older Persons here is how an elderly person can secure his/her finances by investing in Senior Citizen Savings Scheme (SCSS).
Thu, Aug 12, 2021
LIC Pradhan Mantri Vaya Vandana Yojana (PMVVY) and Senior Citizen Savings Scheme (SCSS) are such policies that assure higher fixed interest to senior citizens.
Wed, Jun 09, 2021
LIC Pradhan Mantri Vaya Vandana Yojana (PMVVY) and Senior Citizen Savings Scheme (SCSS) are such policies that assure higher fixed interest returns to senior citizens.
Mon, Jul 06, 2020
Everyone wants to lead a peaceful post-retirement life but this only possible the when the financial position is sound. How to get there?
Fri, May 29, 2020
Saving Schemes For Senior Citizens: A retired person can't work to earn more money, but with his wit and grit, the amount that he has earned during his working days can definitely earn him extra.
Fri, Jan 24, 2020
Budget 2020: Senior citizens are expecting from Nirmala Sitharaman to announce a full tax rebate on Senior Citizen Saving Scheme.
Sun, Dec 15, 2019
Senior Citizen Saving Scheme: After retirement, generally people have little option for earnings and hence their investment becomes one of the most important factors post-retirement.
Sun, Jul 21, 2019
Two of the Post Office small savings schemes are currently offering up to 8.6 per cent interest rate. Five-year Senior Citizen Saving Scheme (SCSS) and Sukanaya Samridhi Yojana (SSY) are two such schemes offered by post offices that can fetch you handsome returns of up to 8.6% in a year.
Wed, May 22, 2019
They are various kinds of debt-related instruments available in the market like, Fixed deposits, National Savings Certificate, Post office schemes, Senior Citizen's Savings Schemes, Debt Mutual Funds etc. While there is a set taxation pattern applicable on each debt instrument, let's understand how it works.
Mon, Oct 22, 2018
Post Office Senior Citizen Savings Scheme (SCSS) is offering 8.7% interest on investments.
Tue, Apr 03, 2018
The EPFO operates a retirement scheme called Employees' Provident Fund (EPF). However, this is not the only retirement scheme that is available in the market.
Tue, Feb 27, 2018
Recent introduction of the Universal Account Number (UAN) has made accessibility of the EPF account easier.
Tue, Nov 21, 2017
If you are planning to claim tax benefits, start investing in the first quarter of a financial year so that you can spread your investments over the years.
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