Retirement Editing: FREMY FREE FREE or SCSS? What investment can produce a quarter at a quarter at Rs 7,50,000 deposit?

FD (a fixed deposit) is a safe and secure cash where banks give the proposed interest rate of the targeted tenure. Top citizens sailings sailings scheme (SCSS) Supply System Supported by the maximum loan with a quarter, retirement. Both options guarantee money but vary from return and balance. If you invest Rs 7,50,000, the amount you received will vary greatly under FD for 5 years and SBI. Let us compare their interest rates, income of quarter and complete mature benefits.

SBI FD’s interest levels

• Social interest rates: 3.50 %.25% PA
• The interest rate of senior citizens: 4.00 %.75% PA
• SBI Tax Safaring FD: 6.50% (in general) & 750% (upper citizens)
• NARIS can invest in NRO, with, RFC and FCNR (b) fd in Maltenen Money.

Mature amount of mature in FD for 5 years of Rs 7,50,000

• Number installed: Rs 7,50,000
• Aweed: Rs 2,85,315
• Mature Value: Rs 10,35,315

High Citizens of a Savings Citizen (SCSS) – Prices

The current average (from Jan 1, 2024): 8.2% PA

The interest payable: Date (April 1, July 1, Oct 1, Jan 1).

SCSS Qualifications Methods

• People aged 60+.
• Retirement for 55-60 years (investment within 1 month of retirement).
• Retired protection staff (50-60) (investment within 1 month of retirement).
• A shared account: only permitted with a partner.

SCSS deposit restrictions and tax benefits

• Low Deposit: Rs 1,000
• Much Deposit: Rs 30.00,000
• SCSS Revenue: It is appropriate to reduce section 80C reduction.

Quarter income from SCSS on RS 7,50,000 investment

• Mature Value: Rs 10,57,500
• Quarter interest: Rs 15,375
• Complete interest earned in 5 years: Rs 3,07,500

Rules of Guarantee With Beginning

• Before 1 year: No interest, earnings.
• 1-2: 1.5% year fine.
• 2-5 years: 1% penalty from principal.

SCSS & Exterence Account Close

• After 5 years: it can be closed through withdrawal application.
• Account Expansion: may be more than 3 years (must apply within one year of maturity).

Taxes in the construction of senior citizens scheme scheme

• SCSS TDS DEDS: If interest rate exceeds Rs 50,000 RS / year.
• Form 15G / 15h: Required to be released if under limits.

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