If you are considering investing in the Post Office, there is some excellent news for you all. You no longer need to rely on anyone in your old age. People can now take advantage of the Post Office Scheme by investing their money wisely. You will receive assured earnings on this investment. Below we have discussed an investment in which you have to invest Rs 5 lakh, you would receive the full interest of Rs 2 lakh.

You would receive the complete Rs 2 lakh through interest under the Senior Citizen Savings plan (SCSS) under the post office plan. This is the finest Central Government plan, in which investors can earn huge returns by investing a big sum of money. You will gain more from this than from a bank FD. At this time, the savings program will profit from an interest rate of 8.2 percent.

Who Will Receive Rs 2 Lakh In Interest?

Senior Citizen Savings Scheme is open to anybody over the age of 60. Additionally, people who have taken VRS might benefit from it. If you invest Rs 5 lakh in one lump payment, you would receive Rs 10,250 in interest each quarter. Aside from that, an annual interest payment of Rs 2,05,000 would be made.

Also Read: Comprehensive Guide to Post Office Schemes for Senior Citizens

How To Get Rs 2 Lakh Interest With Post Office Scheme

Lumpsum deposit amount – Rs 5 lakh
Deposit period – 5 years
Interest rate – 8.2 percent
Maturity amount – Rs 7,05,000
Interest earned – Rs 2,05,000
Quarterly Income – Rs 10,250

How Do You Go About Opening The Account?

This account can be opened at any post office, government bank, or private bank. To open this account, you must complete a form. You should also have two passport-size pictures. In addition, a copy of the identification certificate and other KYC papers must be supplied with the form. The interest money will be sent immediately into your bank account.