In this, if you want, you can get an annual interest of up to 9.45 percent. Both a normal customer and senior citizen can invest at very attractive rates. Let us know here which are those companies that are offering high interest.

Up to 9.42 percent interest is being offered here

This private sector NBFC is also offering up to 9.42 percent interest on FDs of 1500 days. Similarly, it is offering up to 9.15 percent interest on FDs of 700 days to less than 2 years. Similarly, it is offering interest ranging from 8.25 percent to 9.15 percent on FDs for a period of more than three years and less than four years. Apart from this, according to the official website, interest ranging from 8.50 percent to 9.42 percent is being offered on FDs of 730 days to 1095 days. You can get up to 8.88 percent interest on FDs of 365 days to 699 days.

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Here you are getting up to 8.75 percent return

Ujjivan Small Finance Bank is also offering great returns on FDs. According to the official website, this bank is offering interest up to 8.75 percent. In this, you will get 8.25 percent interest on 12 months FD. Senior citizens are being offered 8.75 percent interest for the same period. If you make an FD for 12 months 1 day to 560 days (80 weeks), the bank will offer you 8.0 percent interest.

Here you are getting up to 9.45% interest

NBFC company Shriram Finance is currently offering a great interest rate on FDs. The company’s initial offer starts at 7.96 percent interest which is available on 12-month FDs. The company is offering 8.91 percent interest to general customers and 9.45 percent interest to senior citizens on its latest scheme 50-month Jubilee Deposit. Even if you make an FD for 60 months, you will be offered the same interest rate. Apart from this, the company is also offering great interest rates on FDs of 42, 36, 30 and 24 months.

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Senior Citizen Savings Scheme scheme. Currently, customers are getting 8 percent interest under the Senior Citizen Savings Scheme.

Bank is giving special FD

Ajay Kanwal, MD & CEO, Jana Small Finance Bank said that the bank is offering special FDs to its customers on its 5th anniversary. This offer will benefit senior citizens. Jana Small Finance Bank is celebrating its fifth anniversary this year on 28 March 2023. The bank said that the special FD scheme will be available to both new and existing customers of Jana Small Finance Bank.

Customers can book or invest in FDs from the comfort of their homes or offices through Internet Banking. Under the special FD, the bank is giving 8.15 per cent interest to the common people and 8.85 per cent to senior citizens on 5-year FDs.

Jana Small Finance Bank is giving an annual interest of 8.85% to senior citizens and 8.15% to general customers.

Getting so much interest

Jana Small Finance Bank (SFB) is offering 3.75 per cent interest on FDs maturing in 7-14 days. At the same time, FD of 15-60 days is 4.25 percent. For a period of 61 to 90 days, the bank is paying interest at the rate of 5.25 per cent. Offering interest at the rate of 5.50 per cent to customers for a period of 91 to 180 days. On FDs of 181-364 days, customers will get interest at the rate of 7.00 per cent.

The post Senior Citizens FD: This bank is giving 8.85% interest on 500 days FD, customers have tremendous earning opportunity first appeared on Rightsofemployees.com.

This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.LIC Pension Scheme: Pradhan Mantri Vaya Vandana Yojana is being run by the Modi government. Under which monthly pension is guaranteed. This scheme was started by the central government on 26 May 2020. Couples can invest till 31 March 2023 to take advantage of this scheme. If both husband and wife want, then after the age of 60, they can take advantage of it. Know about the complete plan.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

The post New LIC Pension Plan: Good News! Government will give Rs 18,500 a month to married people! just have to do this work immediately first appeared on Rightsofemployees.com.

What is Vaya Vandana Yojana?

Pradhan Mantri Vaya Vandana Yojana is a social security scheme. Under which the beneficiary will get monthly pension. It has been brought by the Government of India, while this scheme is being operated by Life Insurance Corporation of India (LIC).

If both husband and wife have crossed the age of 60 years, then they can invest a maximum of Rs 15 lakh. Earlier the investment limit was Rs 7.5 lakh, which was doubled later. Compared to other schemes, senior citizens get more interest in this scheme. People of 60 years or above can choose this pension plan.

This is how you will get monthly pension of Rs 18500

If both husband and wife want to take advantage of this scheme, then both will have to invest an amount of 15 lakh rupees in the Pradhan Mantri Vaya Vandana Yojana, that is, a total of 30 lakh rupees. 7.40 percent annual interest will also be available on this scheme.

Accordingly, the annual interest on the investment will be Rs 222000. If it is divided in 12 months, then an amount of Rs 18500 is formed, which you will get as monthly pension. There is also a plan in this scheme that only one person can invest in this scheme. If you invest Rs 15 lakh, then the annual interest will be Rs 111000 and his monthly pension will be Rs 9250.

Full amount back in 10 years

This plan is for 10 years. Monthly pension will continue to be received on your deposited money. If you remain in the scheme for 10 years then after 10 years your invested money will be returned to you. You can surrender this scheme at any time.

The post New LIC Pension Plan: Government will give Rs 18,500 a monath to married people! just have to do this work first appeared on Rightsofemployees.com.

This contribution is 12-12 per cent of the basic salary plus dearness allowance. The interest rates of EPF are fixed every year by the government. At present, 8.1 percent annual interest (FY23) is there. EPF is such an account, in which gradually large corpus is formed till retirement.

Retirement Fund at ₹15,000 Basic Salary

Let’s say your basic salary and dearness allowance together is Rs 15,000. If you are 21 years old, then you can have a retirement fund (EPF Corpus) of Rs 1.26 crore by the time you retire through EPF i.e. by the age of 58. In this, the condition will be that the interest on EPF remains 8.1 percent till retirement and annual salary growth of 5 percent remains. Changes in this may result in change in retirement corpus. The maximum contribution that can be made in the EPF scheme is up to 58 years.

Check EPF Calculation

Basic Salary+DA= ₹15,000
Current Age= 21 Years
Retirement Age= 58 Years
Employee Monthly Contribution= 12%
Employer Monthly Contribution= 3.67 percent
Interest Rate on EPF= 8.10%
Annual Salary Growth= 5%
Maturity Fund at 58 Years = 1.26 crore (Employee contribution is Rs 23.26 lakh and Employer contribution is Rs 7.11 lakh. That is, some contribution is Rs 30.38 lakh.)

(Note: Annual interest rate is 8.1 per cent and salary growth is 5 per cent for the whole year of contribution.)

Employer’s entire 12% does not go towards EPF

12% of the basic salary and Dearness Allowance (Dearness Allowance) of the employee is deposited in the EPF account. But, the employer’s 12 percent amount is deposited in two parts. Out of 12 per cent contribution of the employer, 8.33 per cent is deposited in the Employee Pension Account and the remaining 3.67 per cent goes into the EPF account.

Understand contribution from ₹15,000 salary

Employee Basic Salary + Dearness Allowance = Employee Contribution in ₹15,000
EPF = 12% of ₹15,000 = Employer Contribution in ₹1800
EPF = 3.67% of ₹15,000 = ₹550.5
Employer’s Contribution to Pension Fund (EPS) 8. 33 ₹ 15,000 Contribution %= ₹1249.5

In this way, the total monthly contribution in the EPF account of an employee with a basic salary of Rs 15,000 in the first year will be Rs 2350 (Rs 1800 + 550). After this, the basic and dearness allowance will increase in the same proportion with a 5% increase in the salary on an annual basis. With which the EPF contribution will increase. It is mandatory for the employees whose basic salary is less than Rs 15,000, it is mandatory to join this scheme.

(Note: This figure for Retirement Fund through EPF Contribution has been taken on fixed interest rate, salary growth and employee and company contribution. This is only an estimate. The corpus may vary due to change in figures.)

The post EPF: ₹15,000 basic salary and 21 years of age; How much fund will be available on retirement, see calculation first appeared on Rightsofemployees.com.