Today we are going to tell you about a very great scheme of the post office, where you can collect lakhs of rupees by investing just five thousand rupees. This is the Post Office Recurring Deposit Scheme. This scheme of the post office is quite popular in the country.

By investing in this scheme, you do not have to face the dangers of any kind of market risks. At present, you are getting an interest rate of 6.7 percent by investing in the Post Office Recurring Deposit Scheme. In this scheme, you will not have to face the dangers of any kind of market risks. In this episode, let us know about this scheme in detail –

You can easily open your account in the Recurring Deposit Scheme by visiting your nearest post office. You can start investing in this scheme from Rs 100. The maximum investment limit has not been fixed in this scheme.

Also Read: Ayushman Card Limit: How to find out the remaining limit of the Ayushman card, check here

In this scheme of the post office, you also get the facility of pre-mature closure. If you also want to invest five thousand rupees and collect funds worth lakhs, then for this, after opening an account in the RD scheme of the post office, you have to invest five thousand rupees every month.

You have to invest this amount of Rs 5000 per month for the entire five years. In this case, you will invest a total of Rs 3 lakh. If we calculate it on the basis of the current interest rate of 6.7 percent, then at the time of maturity, you will get a total of Rs 56,830 as interest.

After this, if you continue the investment for another five years, then the total amount deposited by you will be Rs 6 lakh. At the same time, you will get a total interest of Rs 2,54,272 on your investment. In this way, after ten years, you will have a total of Rs 8,54,272.

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The bank has said that the existing account holders who have selected the option of auto-renewal for their FDs on maturity, their FDs will be renewed for the fixed period. Pre-fixed interest rate will be applicable on this.

What was the limit earlier?

The bank has said that more than Rs 10 lakh deposited in FD will be renewed under a separate FD at the time of maturity. PNB’s easy FD scheme is popular because there is no penalty for premature withdrawal. Earlier, the minimum limit for deposit in this scheme of the bank was Rs 10,000. The maximum deposit limit was Rs 10 crore. After the change in the rules of the scheme, only premature withdrawal up to Rs 10 lakh will be exempted from penalty.

How much maturity period?

The tenure of the easy FD scheme ranges from 46 days to 120 months. A person can open this account either singly or jointly with another person. This account can also be opened in the name of a child of 10 years and above. Money can be withdrawn from this account before maturity. But, at least 1000 rupees have to be withdrawn in one go.

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What is the minimum amount that can be withdrawn?

PNB’s website states, “Depositors have the facility to withdraw money in multiples of Re 1. But he has to withdraw at least Rs 1000 at a time. Such withdrawal does not require breaking the FD. Account Interest continues to be earned on the money deposited in it as before. The bank has informed that the principal amount will reduce on maturity. There will not be any penalty on withdrawal.

Who can make a deposit?

The depositor can select any one of the monthly, quarterly or annual options for payment of interest. Proprietorship/Partnership Firms, Commercial Organizations, Companies and Corporate Bodies can take advantage of this scheme. Hindu Undivided Family can also open an account under this scheme. Associations, clubs, societies and trusts are also allowed to open accounts.

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Means people will not get this scheme from April 1, 2023, the new financial year. LIC is running Pradhan Mantri Vaya Vandana Yojana (PMVVY). Under the PMVVY scheme, the Government of India provides pension facilities to senior citizens of 60 years of age. The central government led by PM Narendra Modi had revised the PMVVY scheme in 2020.

Maximum investment can be made in PMVVY

Under the Revise PMVVY scheme, senior citizens can currently invest in the policy up to a maximum of Rs 15 lakh. An annual interest of 7.4% is available on purchasing the policy. If you buy a PMVVY policy for Rs 15 lakh, it will pay you 7.4% i.e. a 10 year policy and will give you Rs 1.1 lakh as interest at the end of the year. You can invest a minimum of Rs 1,56,658 in this.

This is the minimum pension

Rs 1,000 per month

Rs 3,000 per quarter

Rs 6,000 per half year

Rs 12,000 per annum

Maximum PMVVY Pension

Rs 9,250 per month

Rs 27,750 per quarter

Rs 55,500 per half year

Rs 1,11,000 per annum

You can invest minimum and maximum

For annual pension, a minimum of Rs 156,658 and a maximum of Rs 14,49,086 can be invested.

For half yearly pension minimum Rs 159,574 while maximum Rs 14,76,064 will have to be invested.

For quarterly pension, you can invest a minimum of Rs 161,074 and a maximum of Rs 14,89,933.

You can invest a minimum of Rs 162,162 and a maximum of Rs 15,00,000 for monthly pension.

Last date to apply in PMVVY scheme

The last date to apply for LIC PMVVY scheme is March 31, 2023.

Should You Apply?

PMVVY is a good scheme for senior citizens to get pension with the option of taking money monthly, quarterly, half-yearly and annually. This scheme gives an interest of 7.4%. Getting money in this scheme starts only after one month of investment. This policy is for 10 years. You get the policy money back after 10 years.

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Senior Citizen Saving Scheme

Investors get huge benefits on the Senior Citizen Saving Scheme of the post office. In this government scheme, you are getting the benefit of interest at the rate of 7.4 percent. Along with this, the interest rates are reviewed every quarter by the government. So the amount of interest can also change in this.

Let us tell you that in this government scheme, along with good returns, you also get the benefit of tax benefits . Today we will tell you how you can earn more than 1 lakh every year by investing money in this scheme.

How much can you invest?

You have to invest a minimum of 1000 rupees in this government scheme. After this, you can also increase the investment in it in a multiple of 1000. You can invest a maximum of 15 lakhs in this. Its maturity period is 5 years, but account holders can extend this scheme for another 3 years.

You will get tax exemption up to 1.5 lakh, under 80C of Income Tax, you can get the benefit of exemption up to 1.5 lakh. At the same time, if the interest you get is more than 50,000 then you will have to pay tax on it.

How to get Rs 1,11,000

If an investor has deposited Rs 15 lakh i.e. the maximum amount in this government scheme and he is getting the benefit of interest at the rate of 7.4 percent, then according to this he will get Rs 27750 every quarter. At the same time, if we look at its annual amount, then it will become Rs 1,11,000.

If you open a joint
account, then the maximum investment limit will increase to Rs 30 lakh. After doubling the investment amount, the interest will be doubled to Rs 2.2 lakh.

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LIC superhit plan

Significantly, Life Insurance Corporation of India (LIC) guarantees you savings and protection. The special policy that follows the rules of Insurance Regulatory and Development Authority of India i.e. IRDA is LIC Jeevan Pragati Plan. Not only can you become a millionaire by investing in it, but it also comes with risk cover. This plan was launched on 3 February 2016.

Will get death benefit

In the Jeevan Pragati plan of Life Insurance Corporation of India, regular premiums have to be paid. In this policy, you also get a life cover (Death Benefit), which increases every 5 years. This amount depends on how long your policy has been active.

Know the features of the policy

• In this, 100% of the Basic Sum Assured (Basic Sum Assured) is paid on the death of the policyholder for 5 years from the date of taking the policy.
• At the same time, 125% is paid on the death of the policyholder between 6 years to 10 years of taking the policy, 150% between 11 to 15 years and 200% between 16 and 20 years.
• Accident benefit and disability rider can also be availed in this plan. For this you have to pay some extra amount.
• After the maturity benefit of Jeevan Pragati plan, you will get an amount of Rs 28 lakh.

How much and how will you get the amount?

You have to invest in it for 20 years. The investor will have to invest 6 thousand rupees per month i.e. 200 rupees every day. This policy can be started from the age of 12 years. The maximum investment age in this is 45 years.

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