Retirement is the age when you are free from all the responsibilities of children and households, and it can be said as a golden period of your life where you can relax and enjoy the moments with your family. Wave a goodbye to all your work stress, responsibilities, and worries. However, during this golden phase of your life, you need to be financially strong so that you don’t have to depend on your children or others at such an age. Of course, it is the most sensitive phase of one’s life and if someone denies supporting you at this age, it will definitely shatter you. So, isn’t it better to adopt some of the senior citizen schemes that will surely support you during the most sensitive phase of your life? You can go through the several senior citizen schemes at https://www.applykaroo.com/senior-citizen-saving-schemes. Such an investment is absolutely reliable and secured as the schemes are launched by the Government of India. The best part is you can enjoy the highest rate of interest which makes it an ideal scheme to enjoy life after retirement.

What is Senior Citizen Saving Scheme?

The scheme is planned for individuals who have crossed the age of 60. Investing in the scheme can allow you to enjoy long-term saving option effortlessly along with unmatched security and attractive features associated with the scheme. The scheme can be purchased through any certified banks or post office networks. However, always remember use senior citizen saving scheme calculator to check the premium amount and lump sum maturity amount. An applicant can deposit any amount that is multiple of Rs.1000 but, not more than Rs.15 lakhs. The typical senior citizen saving account can be extended up to next 5 years and for subsequent additional 3 years at the time of maturity period. Indian Government’s such a scheme is highly secured, reliable, and robust, serving unmatched privileges to the account holders.

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Benefits of Senior Citizen Saving Scheme:

Easy availability

The scheme can be availed through any certified bank institution and post office network across India

Reliability

The scheme is sponsored by the Government of India that comes with high level of security and maturity amount assurance

Multiple accounts

The scheme can be purchased either individually or with a joint investor (must be the spouse of the primary investor)

Great returns

Use senior citizen saving scheme calculator to calculate the return amount. The scheme is sponsored at an attractive interest rate of 8.6% per annum

Flexible tenure

The account has tenure of 5 years but can be extended to additionally 3 more subsequent years after the maturity period. Thus, the senior citizen saving scheme is an ideal investment option as either a medium range investment or a long term plan.

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