Post Office Scheme Rules - Rightsofemployees.com https://www.rightsofemployees.com Know Your Rights Thu, 30 Mar 2023 07:32:04 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 https://www.rightsofemployees.com/wp-content/uploads/2018/01/cropped-emp1-32x32.png Post Office Scheme Rules - Rightsofemployees.com https://www.rightsofemployees.com 32 32 Post office Scheme Rules Change: These three major changes will happen after 2 days under post office schemes https://www.rightsofemployees.com/post-office-scheme-rules-change-these-three-major-changes-will-happen-after-2-days-under-post-office-schemes/ Thu, 30 Mar 2023 07:32:04 +0000 https://www.rightsofemployees.com/?p=13545 Post Office Scheme Changes: The government benefits the common people under the post office schemes. Under many schemes, the government gives more returns to the common people on less investment. Along with this, along with tax saving, it also gives the benefit of loan etc. Now to increase this benefit further, the government has made […]

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]]> Post Office Scheme Changes: The government benefits the common people under the post office schemes. Under many schemes, the government gives more returns to the common people on less investment. Along with this, along with tax saving, it also gives the benefit of loan etc. Now to increase this benefit further, the government has made three major changes.

During Budget 2023, the government had made some changes under two savings schemes of the post office. Along with this, a new scheme was introduced, which is for women. Finance Minister Nirmala Sitharaman has made special changes in the Senior Citizen Savings Scheme and the Post Office Monthly Income Scheme. Let’s know what were the changes

Senior Citizen Saving Scheme

During Budget 2023, Senior Citizen Savings Scheme investors can now invest twice as much as before. Earlier this amount was Rs 15 lakh, which has been increased to Rs 30 lakh. This scheme was started in 2004, so that benefits can be given to senior citizens on retirement. The interest rate under this scheme is 8 percent and a minimum of Rs 1000 can be deposited. The interest under this scheme is not tax free.

Monthly income scheme

During the current budget, the investment limit in MIS has been increased from Rs 4 lakh to Rs 9 lakh. At the same time, under joint accounts, the limit has been increased from Rs 9 lakh to Rs 15 lakh. Under the Monthly Income Scheme, investors will get interest money every month. Right now the annual interest under this scheme is 7.1 percent. This is a five year plan.

Mahila Samman Saving Scheme

During the budget 2023, the central government had announced this scheme. This scheme is starting from 1st April. The government has started this scheme to include more women in the investment scheme. Also, this scheme will give more benefits to poor women in less time. Under this scheme, you can invest 2 lakh rupees for 2 years and in return you will get money at the rate of 7.5 percent.

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]]> Post Office Scheme Rules Change: The rules of these schemes will change from April 1, this is how your income will increase https://www.rightsofemployees.com/post-office-scheme-rules-change-the-rules-of-these-schemes-will-change-from-april-1-this-is-how-your-income-will-increase/ Tue, 28 Mar 2023 12:05:47 +0000 https://www.rightsofemployees.com/?p=13474 Post Office Scheme: If you like to invest in post office schemes, then by investing in these three post office schemes, your income will also double. If you are an individual investing in Senior Citizens Savings Scheme (SCSS) or Post Office Monthly Income Scheme (POMIS) or planning to do so, there are a few important […]

The post Post Office Scheme Rules Change: The rules of these schemes will change from April 1, this is how your income will increase first appeared on Rightsofemployees.com.

]]> Post Office Scheme: If you like to invest in post office schemes, then by investing in these three post office schemes, your income will also double.

If you are an individual investing in Senior Citizens Savings Scheme (SCSS) or Post Office Monthly Income Scheme (POMIS) or planning to do so, there are a few important things you need to keep in mind. The Union Budget 2023 made some changes in two of the most popular post office schemes and even introduced a new scheme for women investors.

In Budget 2023, the Senior Citizens Savings Scheme (SCSS) investment cap was increased from Rs 15 lakh to Rs 30 lakh. Explain that the Senior Citizens Savings Scheme (SCSS) was established in 2004 with the aim of providing senior citizens a reliable and secure source of income for their post-retirement years. The interest rate offered on SCSS for this January-March quarter is 8%. SCSS interest rate has been fixed for 5 years with a minimum of Rs 1000 and multiples of 1000. This savings scheme is not tax free for senior citizens.

Post Office Monthly Income Scheme

According to Budget 2023, the limit for a single account holder for the Post Office Monthly Income Scheme (POMIS) has been increased from Rs 4.5 lakh to Rs 9 lakh. The investment limit for joint account holder has been increased from Rs 9 lakh to Rs 15 lakh. Interest will be paid every month to the investors of the Monthly Income Scheme.

Explain that the interest rate for this scheme is regularly fixed by the government. Currently, the interest rate for the period January to March 2023 is 7.1%. An MIS account is valid for five years. If it is closed after 3 years but before 5 years from the date of opening, a penalty of 1% of the principal will be levied.

Mahila Samman Savings Certificate

Mahila Samman Savings Certificate was announced for women investors in the Union Budget 2023 presented this year. This is a one time short term savings scheme which will be available for two years. But the department has not yet made any official announcement regarding this scheme nor given any details. According to the Finance Minister, to celebrate the Amrit Mahotsav of Independence, a one-time new small savings scheme Mahila Samman Savings Certificate will be made available for a period of two years till March 2025.

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