In such a situation, you can invest in Atal Pension Yojana. It is often seen that due to lack of good financial planning, people face many financial problems in their old age. In such a situation, they are forced to be financially dependent on someone else. If you do not want to face any kind of financial problems in your old age. In such a situation, you can start investing in Atal Pension Yojana. After investing in this scheme, you will get a pension of five thousand rupees every month. Let us know about it in detail in this episode –

People between the age of 18 to 40 years can apply for Atal Pension Yojana. While opening an account in this scheme, you will have to provide bank account number, Aadhaar number, mobile number and other important information. Whereas if you apply for this scheme at the age of 18 years. In such a situation, you will have to save Rs 7 daily and invest Rs 210 every month in Atal Pension Yojana.

You will have to make this investment till you turn 60 years of age. When you turn 60 years old. After that you will get a pension of five thousand rupees every month. The special thing about Atal Pension Yojana is that by investing in it you can also save tax. In this you also get tax exemption under Act 80C of Income Tax. The Government of India started Atal Pension Yojana in the year 2015.

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There are many such schemes which give guaranteed better interest. If you are also looking for a good scheme for investment, then Senior Citizen Savings Scheme can be very helpful for you.

Senior Citizen Saving Scheme (SCSS) is specially for those people whose age is more than 60 years. Apart from this, those who have taken VRS can also take advantage of this scheme. At present, interest is being received on this scheme at the rate of 8 percent. If you want, you can earn 6 lakh rupees in 5 years through this scheme only from interest. Know the special things related to this scheme.

Can deposit up to a maximum of 15 lakhs

In the Senior Citizen Savings Scheme, the amount is deposited in multiples of 1000. You can deposit up to a maximum of Rs 15,00,000 in it. The deposit amount matures after 5 years from the date of opening of the account. The deposit amount matures after 5 years from the date of opening of the account. Interest is paid on the deposit amount on quarterly basis.

This is how you will get 6 lakh interest on the deposited amount

Now it comes to the question that how will 6 lakh interest be made on the deposited amount? If you deposit Rs 15 lakh in the Senior Citizen Savings Scheme, then according to the current time, it will get interest at the rate of 8 percent. In such a situation, according to the SCSS calculator, in five years you will get Rs 6,00,000 only as interest on Rs 15 lakh. You can arrange regular income for yourself by taking this amount as interest.

Benefits of this scheme

• Senior Citizen Savings Scheme is a small savings scheme backed by the Government of India, hence it is considered one of the reliable and safe options.
• Under Section 80C of the Income Tax Act, you can claim tax exemption of Rs 1.5 lakh per year by investing in this scheme.
•  Interest rate of 8% per annum is very good from investment point of view. 
• This account can be transferred anywhere in India.
• Interest is paid every three months under this scheme. Interest is credited to your account on the first day of every April, July, October and January.

How to open account

To open this account in any post office or public / private banks, you will have to fill a form, as well as submit this form along with two passport size photographs, identity proof and copies of other KYC documents. The advantage of opening an account with a bank is that the deposit interest can be directly credited to the savings bank account of the depositor with the bank branch. Account statements are sent to the depositors through post or email.

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There should be no risk in investing, we are talking about the National Pension Scheme. This is a government scheme, which is specially designed to give benefit to the elderly. There is no risk in investing in this scheme. This scheme was started in January 2004 for government employees. Later in 2009 it was opened to all categories of people. Under this plan, you have to invest for a long period in your working life. In this scheme, you have to invest 40 percent of the amount in the annuity. From the amount of annuity, you get pension later.

This way you will get 20 thousand rupees pension

If you want to invest in this scheme, then you can start it with an investment of only Rs 1000. People in the age group of 18 to 70 years can take advantage of this scheme. If you invest 1000 rupees a month in this scheme at the age of 20, then till retirement you will have a total corpus of Rs 5.4 lakhs. There will be 10 percent return on this, this will increase this investment to 1.05 crores. If 40 percent of the corpus is converted into a year, then this prize will be Rs 42.28 lakh. Accordingly, assuming 10% annual rate, you will get a pension of Rs 21,140 every month. Along with this, you will get a lump sum amount of about Rs 63.41 lakh.

These benefits will be
available – If you invest in NPS, then 60 percent of the amount on final withdrawal will be tax free. 
The contribution limit in NPS account is 14%. 
The amount invested in the purchase of annuity is also fully exempt from tax.
Any NPS subscriber can claim tax deduction up to 10% of the gross income under section 80CCD(1) of the Income Tax Act, subject to an aggregate limit of Rs. Under section 80CCE, this limit is 1.5 lakhs.
Subscriber can claim additional deduction up to Rs 50,000 under section 80CCE.

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