Monthly income: invest in Senior Citizen Saving Scheme, PM Vay Vandana Yojana or Monthly Income Scheme for arranging money every month

Monthly income: invest in Senior Citizen Saving Scheme, PM Vay Vandana Yojana or Monthly Income Scheme for arranging money every month

If you are a senior citizen and want to arrange monthly income for yourself, then you can invest in Pradhan Mantri Vay Vandana Yojana, Post Office Senior Citizen Saving Scheme and Post Office Monthly Income Scheme. By putting money in these schemes, you will not only get good returns, in addition to this your money will also be completely safe. We are telling you about these schemes so that you can invest in them according to your need.

Pradhan Mantri Vay Vandana Yojana

. One can also invest in the Pradhan Mantri Vaya Vandana Yojana (PMVVY) launched by the central government for senior citizens.

• Investment can be made in this scheme till 31 March 2023. It is a pension scheme for citizens 60 years and older.

• The benefit of this scheme can be availed by paying a lump sum amount. 7.40% per annum will be assured payment. It will be paid monthly.

• If you do not take money every month, then it becomes equal to 7.66% annually. A maximum of Rs 15 lakhs can be invested in it.

Under Section 80C of the Income Tax Act, by investing in it, you can save tax on the amount up to Rs 1.5 lakh.

• On 15 lakhs, you will get a pension of 9,250 rupees every month. Click here for more information

• If you invest 4.5 lakh rupees under this scheme, then you will get interest of Rs 29700 annually as per the interest rate of 6.6 per annum.

. At the same time, if you invest 9 lakhs under a joint account, then you will get 59,400 years of interest. Click here for more information

Post Office Senior Citizen Saving Scheme

• If you want a good interest on deposits, then you can invest in the Senior Citizen Saving Scheme of the Post Office.

• Under this scheme you are offered 7.4% interest i.e. in this scheme you get more interest than the fixed deposit of the bank.

• This account can be opened after the age of 60 years or more. A person taking VRS who is more than 55 years but less than 60 years can also open this account.

. The post office monthly income scheme is being reduced to 6.6%. Under this scheme, accounts can be opened with a minimum of 1000 rupees.

• The special thing is that after the completion of the scheme you will get your full money back as well. This means that regular income guarantee can be ensured for you from this account.

• If your account is single, you can make a maximum deposit of up to Rs 4.5 lakh. On the other hand, if you have a joint account, a maximum of 9 lakh rupees can be deposited in it. Maturity period is 5 years.

• If you invest 4.5 lakh rupees under this scheme, then you will get interest of Rs 29700 annually as per the interest rate of 6.6 per annum.

. At the same time, if you invest 9 lakhs under a joint account, then you will get 59,400 years of interest. Click here for more information