Sunday, July 27, 2025
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Best Schemes: Money won’t be an issue until you retire! These government programs will provide a consistent monthly income.

Best Schemes for Senior Citizens in New Delhi: People are always concerned about what will happen after they retire. People are frequently confronted with financial difficulties. In such a case, investing in the appropriate plan at the right time is critical for a secure future. There are several excellent solutions available on the market today that will assist a senior individual in maintaining a steady income. But what if it’s difficult to pick where to put your money? So, let’s have a look at some of the unique schemes that could be beneficial to you.

Senior Citizen Savings Scheme (SCSS)

SCSS can be purchased through Indian post offices or public sector banks. You can put 15 lakhs into this to ensure your future. It has a five-year maturity period. It can, however, be extended for another three years if desired. You can select any quarterly payment option here. Interest is currently being paid on it at a rate of 7.40 percent per year.

Read More: AN INCREASE IN THE COST OF LPG Inflationary shock! LPG rates have increased; instead of Rs 809, an LPG cylinder will now cost Rs 834.50

Pradhan Mantri Vaya Vandana Yojana (PMVYY)

This government-run program is for senior citizens. This is only available to people above the age of 60. This government program has no upper age limit. A maximum of Rs 15 lakh can be invested in this. You can make a one-time investment in this. You can put at least Rs 1,44,578 into this for an annual pension.

The maximum buy rate is Rs 14,45,783, while the minimum purchase rate is Rs 14,45,783. You can also take advantage of the PMVVY scheme’s early withdrawal option.

Floating-rate bond issued by the Reserve Bank of India

To preserve your retirement, you can invest up to 15 lakhs in RBI floating rate bonds. This bond requires a minimum investment of Rs 1,000. There is no maximum investment amount, and the current rate of interest is 7.15 percent per year.

National Savings Plan (NSP)

Postal savings accounts have long been thought to be safe and secure. Investing in its National Savings Certificate (NSC) scheme might yield good results. The largest benefit is that income tax exemption is available under section 80C of the Internal Revenue Code. You will get 6.8% interest each year in this NSC scheme. The only payment paid under this arrangement is at the end of the term.

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