Post Office Schemes – Earn 35 Lakh Rupees Through This Govt Scheme – Investment Scheme 2023

Post Office Gram Suraksha Scheme

The Post Office Scheme is a popular savings scheme offered by the Indian government through its postal network. This scheme has been designed to encourage small savings among the masses, especially those who are not familiar with the workings of the stock market or other investment options.

One of the most attractive features of the Post Office Scheme is its low entry barrier. With just 50 rupees, anyone can open an account and start saving. This makes it an ideal option for low-income families or individuals who are just starting out in their careers. Even though the amount seems small, the habit of saving can go a long way in ensuring financial security in the long run.

The Post Office Scheme offers various investment options to suit the needs of different individuals. For instance, there is the Monthly Income Scheme (MIS) which offers a fixed rate of return on the deposited amount. The interest is paid out on a monthly basis and the scheme has a tenure of 5 years. The minimum investment required for the MIS is 1500 rupees.

Another popular option is the Public Provident Fund (PPF) which has a tenure of 15 years. The PPF account can be opened with a minimum deposit of 500 rupees and the maximum amount that can be invested in a year is 1.5 lakhs. The interest rate for the PPF is reviewed and revised by the government on a quarterly basis.

One of the key benefits of the Post Office Scheme is the tax benefits it offers. The investments made in the PPF and other schemes are eligible for tax deductions under Section 80C of the Income Tax Act. This makes it a popular choice among investors who are looking to save on taxes.

Apart from the tax benefits, the Post Office Scheme is also known for its safety and reliability. The deposits made in the Post Office Scheme are backed by the government of India, which makes it a safe and secure option for those who are risk-averse. Moreover, the interest rates offered by the Post Office Scheme are competitive when compared to other savings options such as fixed deposits or savings accounts offered by banks.

Now, let’s talk about the 50 rupees to postpone the day. This phrase refers to the habit of saving small amounts regularly, with the aim of building a corpus over time. By saving just 50 rupees every day, an individual can accumulate a substantial amount of money over a period of time. For instance, if one saves 50 rupees every day for a year, they would have saved 18,250 rupees in total. Over 5 years, this amount would grow to 91,250 rupees.

The concept of saving small amounts regularly is not new. In fact, it has been advocated by financial experts for a long time. The reason why this approach works is that it helps inculcate the habit of saving and makes it easier for individuals to stick to their savings goals. Moreover, by saving small amounts regularly, individuals can avoid the temptation to splurge on unnecessary expenses and can instead focus on building their savings.

Now, let’s bring the two concepts together – the Post Office Scheme and the habit of saving small amounts regularly. By investing in the Post Office Scheme and saving small amounts regularly, individuals can build a substantial corpus over time. For instance, if one invests in the PPF and saves 50 rupees every day, they would have saved 18,250 rupees in the first year. Assuming an annual interest rate of 7.1%, the corpus would grow to 35 lakhs over a period of 15 years.

This is a significant amount of money and can go a long way in providing financial security for the individual and their family. Moreover, since the investments made in the Post Office Scheme are eligible for tax deductions, the individual can save on taxes as well. This makes the Post Office Scheme a highly attractive savings option for those who are looking to build their wealth over the long term.

It is important to note that investing in the Post Office Scheme requires discipline and patience. It is not a get-rich-quick scheme and the returns may not be as high as those offered by other investment options such as mutual funds or stocks. However, what the Post Office Scheme lacks in terms of high returns, it makes up for in safety, reliability, and ease of access.

In conclusion, the Post Office Scheme is a highly attractive savings option for those who are looking to build their wealth over the long term. With a low entry barrier and various investment options to choose from, the scheme is accessible to individuals from all walks of life. By combining the Post Office Scheme with the habit of saving small amounts regularly, individuals can build a substantial corpus over time and provide financial security for themselves and their families. The phrase “50 rupees to postpone the day” underscores the importance of inculcating the habit of saving small amounts regularly, and the Post Office Scheme provides a safe and reliable platform to do so.

-> Post Office Gram Suraksha Yojana. The scheme is implemented under Rural Postal Life Insurance.

-> A depositor of Rs 1500 per month is guaranteed Rs 35 Lakhs during the term.

-> It is a whole life assurance policy that offers insurance cover for the entire life of the policy holder.

-> If the policyholder dies within the policy term, the nominee will receive the sum assured. A person who has completed the policy for 5 years can convert it into an endowment assurance policy and withdraw the amount at maturity.

-> The minimum age limit to invest is 19 years. Up to 55 years of age can join the scheme

-> The minimum sum assured of the policy is Rs 10,000. The maximum sum assured is Rs 10 lakh.

-> Premium payment tenure can be adjusted in 3 ways namely 55 years, 58 years and 60 years

-> There are four options for paying the premium. Premium can be paid monthly, quarterly, half yearly or annually. A grace period of 30 days is allowed for payment of premium.

-> At the age of 19, a person buying a Gram Suraksha policy with a sum assured of Rs 10 lakh would have to pay a monthly premium of Rs 1,515. If you pay the premium up to 55 years, you will get Rs 31.60 lakhs during the term. If you choose the premium term of 58 years in the same policy, you have to pay Rs 1,463 per month. 33.40 lakhs will be received during the term.

-> A person who pays premium till the age of 60 and pays Rs 1,411 per month will get Rs 34.60 lakh on maturity. In the Gram Suraksha Yojana, a bonus of Rs 60 per year was sanctioned for every Rs 1,000. This is the figure based on this bonus.