Wednesday, April 24, 2024

Scheme Will Give Double Returns After Budget

Senior Citizen Savings Scheme Calculator: This scheme will give double returns after the budget, understand the calculation here on investment of ₹ 10 thousand.

Senior Citizen Savings Scheme Calculator: The investment or deposit limit has been doubled in this scheme of the Government of India. That is, now instead of the earlier fixed limit of Rs 15 lakh, it will now be up to Rs 30 lakh.

Senior Citizen Savings Scheme Calculator: A special announcement has been made for senior citizens in the budget speech (budget 2023) on Wednesday.

Senior Citizen Savings Scheme Account The deposit or investment limit in the scheme has been doubled as compared to earlier. In this scheme of the Government of India, the limit of investment or deposit has been doubled. That is, now instead of the earlier fixed limit of Rs 15 lakh, it will now be up to Rs 30 lakh. That is, there will be a large scope of investment in this scheme for senior citizens. It is natural, now they will get a chance to earn more returns than before. We can also understand this from a calculation here. Under this scheme, you can open an account in any bank or post office.

What is this scheme

Senior Citizen Saving Scheme is a savings scheme of the Government of India, which is for senior citizens. It is invested for five years. At present, 8 percent interest is being received in this. Earlier there was a facility to invest up to Rs 15 lakh in the account opened under this scheme, which has been doubled to Rs 30 lakh in the budget of February 1 (budget 2023). In this (Senior Citizen Savings Scheme) multiples of Rs 1000 can be invested. Any person above the age of 60 years or more (even those who are younger in a particular category) can open an account.

Understand the calculation here

For example, if you have opened an account in the post office under the Senior Citizen Savings Scheme, you can easily understand the return on it from the calculation (post office SCSS Calculator).

According to the official website of the post office, at present, at an interest rate of 8 percent, this scheme is getting a return of Rs 200 every quarter for every investment or deposit of Rs 10,000. That is, during this scheme of five years, you get a total return of Rs 4000. Now if you invest Rs 20,000 in this as per the assumed post-budget rule, you will get a return of Rs 400 every quarter and similarly, for five years your total return will be Rs 8000.

Similarly, if you invest a maximum of Rs 15 lakh in the Senior Citizen Savings Scheme, according to the rules before the budget (budget 2023), then you get Rs 30,000 every quarter. The scheme gives you a total return of Rs 6 lakhs. Now when you invest double the amount i.e. Rs 30 lakhs as per the post-budget rule, you get a return of Rs 60,000 every quarter, taking the total return during this period to Rs 12 lakhs. Are.

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