People want to have safe earning in this world of cyber fraud. To do this they go for various schemes, jobs, and other things. People trust on the scheme run by the Indian government for good return and credibility of the scheme.
One such scheme is the Senior Citizen Savings Scheme. This scheme is run by the Indian government. People who will be investing in this scheme can get return up to Rs 12 lakh, as per media reports.
How To Get Benefit From The Scheme?
The senior citizens gets an annual interest of 8.2 percent,, if investing under this scheme by the central government. A single account in the SCC allows a maximum investment of Rs 30 lakh. With this they can earn annual interest of Rs 2,46,000. The account under this gets matured in 5 years. The total earning from this after 5 years will be Rs 12,30,000.
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Benefits From The Scheme
Under this Senior Citizen scheme both single and joint account can get open. The money that the senior citizen will invest in this scheme qualifies for a tax exemption under Section 80C of Income Tax Act.
