Post office savings scheme: Invest Rs 95 per day to reap benefits worth over Rs 14 lakhs at maturity, know how

The best method to secure one's future in the most organised manner is through investments. Making wise decisions early in life can provide you with a safe and secure future. This scheme can be the best one to start with if you intend to move forward and begin your investment journey.

Enrol in the small savings Sumangal Rural Postal Life Insurance Scheme. The scheme is open to Indian citizens between the ages of 19 and 45. Additionally, this plan provides 10 lakh rupee insurance. The insurance payout will be credited to the family member, nominee, or legal heir after the unfortunate passing of the policyholder.

There are two maturity windows for the account: 15 and 20 years. In a 15-year policy, 20 per cent of the sum guaranteed will be available as a cash refund after 6, 9, and 12 years. A 20-year policy also includes money-back options after 8, 12, and 16 years. The remaining 40% are eligible for a bonus upon maturity.

Return estimator:

When you are 20 years old and purchase a 20-year policy with a 7 lakh rupee sum assured, you would be obliged to pay a daily premium of Rs 95. Rs. 2850 is the cost for a month, and Rs. 17,100 is the cost for a full year. You will get your money back, but when it matures it will be worth Rs. 14 lakh. You receive money on a regular basis and then pay it back.

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You receive 20 per cent of the sum promised in the aforementioned 8th, 12th, and 16th years of a 20-year policy with a value assured of Rs. 7 lakh. The final price will be Rs 4.2 lakh after three payments (20 per cent of Rs 7 lakh is Rs 1.4 lakh). You will then receive Rs 2.8 lakh in the 20th year, which will complete the promised total.

After that, you would receive an annual bonus of Rs. 48 every Rs. 1000. In 20 years, this amount will be equal to 6.72 lakh rupees. As a result, when the loan matures, you will receive a total of Rs. 9.52 lakh. The sum of Rs. 13.72 lakh is due upon maturity and the money is being refunded.

Most people who will profit from this strategy are those who are unable to wait till they are fully mature. people who will soon need to make cash withdrawals. This tactic might be helpful for them.