Senior Citizen Schemes: The Central Government has started two schemes for senior citizens, under which the government pays annual interest on the investment. There is no risk of money in this scheme. These two schemes are Senior Citizen Savings Scheme (SCSS) and Pradhan Mantri Vaya Vandana Yojana (PMVVY).
Finance Minister Nirmala had increased the maximum deposit limit of Senior Citizen Saving Scheme from Rs 15 lakh to Rs 30 lakh during the Union Budget, this increase is effective from 1 April. The latest interest rate for this scheme is 8 per cent. On the other hand PM Vaya Vandana Yojana is valid till 31 March 2023. This is a pension scheme and up to Rs 15 lakh can be invested in it.
Benefits only those above 60 years of age
There will be a maturity of 10 years under PM Vaya Vandana Yojana. Both these schemes are for citizens above 60 years of age. Let us know how you can earn more profit from your portfolio by investing in both these schemes and what you have to do for this.
How to earn more income
If you want to earn good profits in old age without risk, then you should invest in PM Vaya Vandana Yojana before 31st March. Under this scheme, you can avail pension every month on an investment of 15 lakhs. 7.4 percent interest will be given in this. In such a calculation, the annual profit for 10 years will be Rs 1.11 lakh.
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