Best Government Retirement Schemes for Secure Monthly Income
Senior Citizens Savings Scheme (SCSS)
Interest Rate:
8.2% p.a.
Tenure:
5 years, extend by 3 yrs.
Invst. Limit:
Up to ₹30L/person
Senior Citizen Fixed Deposits (FDs)
Interest Rate:
Between 7% & 8.5%
Payout Options:
Monthly, quarterly, or cumulative interest.
Tenure:
Between 1 yr & 10 yrs.
Post Office Monthly Income Scheme (POMIS)
Interest Rate:
7.4% p.a.
Tenure:
5 years.
Invest. Limit
: ₹9L for single & ₹15L for joint account.
Pradhan Mantri Vaya Vandana Yojana (PMVVY)
Interest Rate:
7.4% to 7.6% p.a.
Pension Pay-out:
Monthly, quarterly, half-yearly, or annually.
Tenure:
10 yrs.
Tax-Free Bonds
Interest Rate:
5.5% to 6.5% p.a.
Tax-Free:
Entire interest is exempt under Section 10(15)(iv)(h) of the Income Tax Act.
Tenure:
10 to 20 yrs.
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