Want a Steady ₹17,000 Monthly Income? This Post Office Scheme Explains How
Post Office’s Smart Savings Plan That Can Pay You ₹17,000 Every Month: In times of high inflation, having a safe and regular income after retirement is very important. The Post Office Senior Citizen Savings Scheme (SCSS) is a government-backed scheme that offers guaranteed returns with zero risk. Under this scheme, senior citizens can earn over ₹17,000 per month as regular income.
Why SCSS is a good option: SCSS is backed by the Government of India, making it a completely safe investment. It currently offers an interest rate of 8.2%, which is higher than most bank fixed deposits. Once invested, the interest rate remains fixed for the full tenure.
Easy investment: You can start investing with just ₹1,000. The maximum investment limit is ₹30 lakh (joint account). Interest is paid every three months, ensuring steady income.
Tax benefits: Investment in SCSS qualifies for tax deduction up to ₹1.5 lakh under Section 80C, helping reduce your tax liability.
Who can invest:
-Senior citizens aged 60 years and above
-VRS retirees aged 55–60 years
-Retired defence personnel aged 50–60 years
Tenure and payout: The scheme has a 5-year maturity, extendable by 3 more years. Interest is paid quarterly. In case of the investor’s death, the full amount is paid to the nominee.
How to earn ₹17,000 per month: By investing ₹25 lakh, you earn about ₹2.05 lakh annually at 8.2% interest. The quarterly payout is ₹51,250, which comes to around ₹17,083 per month—a secure and regular income without any risk.
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