Senior Citizen Savings Scheme (SCSS): The Post Office of India has a savings scheme where one can invest and earn lacs of rupees. All the Post Office Schemes are government schemes and they are risk free. Today we are going to tell you one such scheme of post office using which you can earn more than 2 lakh every year by investing once. The scheme which we are talking about is the Senior Citizen Savings Scheme (SCSS) of the post office. Let’s find out more.Senior Citizen Savings Scheme (SCSS): The Post Office Senior Citizen Savings Scheme is exclusively meant for senior citizens, but even if you are not a senior citizen, you can invest in this scheme in the name of your old parents. In this scheme, you need to invest together. The maturity period of this scheme is 5 years and in this period, you earn from interest.What makes the Senior Citizen Savings Scheme unique With Senior Citizen Savings Scheme, the focus is on interest rates, which makes it stand out from the rest. The scheme provides an annual interest rate of 8.2% which is paid quarterly. There’s also flexibility in the amount you wish to invest, starting with just Rs 1000. The limit on this scheme is also generous, going up to Rs 30 lakh.The total returns over 5 years would be Rs 12.03 lakh, which is earned through interest on the principal amount over the years. Generate 2 lakhs with Senior Citizen Savings Scheme With an investment of Rs 30 lakhs in the Senior Citizen Savings Scheme, the investor would be earning an interest of 8.2% p.a. This allows the investor to earn Rs 20,050 every month which on a quarterly basis is Rs 60,150. Annually, this would be Rs 2.4 lakhs. This means the investor would earn 2.4 lakhs per year and over 5 years it amounts to a total of 12.03 lakhs.
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