Senior Citizens Saving Scheme: If you are a senior citizen, and you are thinking of investing, then this news will prove to be of your use. We are going to tell you about investment in Senior Citizen Savings Scheme and PM Via Vandana Yojana. If you invest in this then you will get regular income every month. You can include these plans in your plan.
Senior Citizen Savings Scheme
If you are planning to invest for yourself, and your spouse is more than 60 years of age, then both of you can invest in the Senior Citizen Savings Scheme (SCSS) scheme together. You can invest your money in these schemes without any risk. The tenure of this scheme is 3 years. Also, you can extend it further by 3 years. Both these schemes give an annual return of 7.4%. In SCSS, you get interest only on quarterly basis. So you have to manage monthly expenses.
PM Vaya Vandana Yojana
On the other hand, you can take advantage of PM Vaya Vandana Yojana- PMVVY scheme. The tenure of this plan is 10 years. If you are retired and want to get a permanent income then you can invest in it. PMVVI gives you the option to charge interest every month.
have to invest like this
If you invest only up to Rs 15 lakh in any one of these two schemes. That is, an investment of Rs 30 lakh can be made in both the schemes together. In both the schemes, one will be the primary account holder and the other is secondary.
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See how much return you will get
You will get a return of 7.4 per cent in both these schemes. You will get Rs 1.11-1.11 lakh from one scheme on opening a joint account. Similarly, the same amount will be available from the second scheme as well. Overall, you will be given a return of Rs 4.44 lakh in a year. If you look at it in months, there are about 36-37 thousand.
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