ensure guaranteed income post your retirement invest in pnb senior citizen saving scheme
Retirement brings with itself several complications and doubts, but there are savings products that are safe and ensure guaranteed retirement income. The Senior Citizen Savings Scheme (SCSS), launched in 2004 is a deposit scheme introduced by the government of India to provide guaranteed returns to senior citizens through a safe investment. This scheme ensures a regular income stream for senior citizens in retirement.
Most sensible person can secure his old age with multiple savings. Many government banks of the country have come up with such schemes that you can protect your old age by investing in banks.
Punjab National Bank has also come up with a scheme in which you can start by investing only 1000 rupees. And you can make your coming old age safe.
Punjab National Bank has come out with a Senior Citizen Saving Scheme (SCSS). The bank launched this scheme in 2014. The age to enter this scheme is 60 years. For those who have retired, the age of entry has been kept at 55 years.
You can invest at least Rs 1000 and maximum Rs 15 lakh in this scheme. You will continue to get interest on this amount.
This scheme is a tax saving scheme and the duration of this scheme is 5 years. Which can be done even after 3 years. Leaving the former scheme of maturity will charge you a small amount.
To be a part of this scheme, you must have a savings account with Punjab National Bank. To avail this scheme you have to visit nearest PNB bank branch.
You must be an indian resident address and you will need an Aadhaar card, 2 photos, address proof as a document to open this account.