Investing is a vital part of your financial future. It helps you earn better returns as compared to bank deposits, minimize your tax liabilities and achieve your long-term financial goals later on in life. It gives you the freedom to choose from a wide variety of investment options with little or no risk attached. Similarly, the Indian post office has introduced its Gram Suraksha Scheme to help rural India get amazing returns over the years by investing as little as Rs 50 every day.
The scheme comes with low risk and promises to provide an assured amount upon maturity. For example, if an investor aged 19 years starts investing and pay Rs 1515 per month, he/she will be eligible to receive about Rs 31.60 lakhs at the age of 55 years, and on investing Rs 1463, Rs 33.40 lakhs at the age of 58 and on investing 1411, Rs 34.60 lakhs at age 60. Now, let’s understand this a little better.
Investing is a vital part of your financial future. It helps you earn better returns as compared to bank deposits, minimize your tax liabilities and achieve your long-term financial goals later on in life. It gives you the freedom to choose from a wide variety of investment options with little or no risk attached. Similarly, the Indian post office has introduced its Gram Suraksha Scheme to help rural India get amazing returns over the years by investing as little as Rs 50 every day.
The scheme comes with low risk and promises to provide an assured amount upon maturity. For example, if an investor aged 19 years starts investing and pay Rs 1515 per month, he/she will be eligible to receive about Rs 31.60 lakhs at the age of 55 years, and on investing Rs 1463, Rs 33.40 lakhs at the age of 58 and on investing 1411, Rs 34.60 lakhs at age 60. Now, let’s understand this a little better.
What Is Gram Suraksha Scheme?
Introduced by India Post, Gram Suraksha Scheme is meant to help the underdeveloped areas of India. The Indian post office acts as an important authority in which people in rural areas can save their money. Over the years, the post office has introduced several savings schemes for rural India that are risk-free and offer great return over time. Moreover, the schemes introduced by the post office are affordable for anyone and everyone. It makes investing easy for all sections of society.
Moving ahead, the Post Office Gram Suraksha Scheme helps a policyholder get maximum benefits by paying lower premiums till the age of 55, 58 or 60 years. It helps investors build a huge corpus by investing little. In this scheme, the investors need to invest only about Rs 1500 per month, that is about Rs 50 daily to receive about Rs 31 to 35 lakhs at the time of maturity. It is one of the most secure and beneficial schemes of the Indian Post Office.
The scheme allows investors to pay the premium in a monthly, quarterly, half-yearly or annual manner. Also, investors can avail of a 30-day relation period for paying the premium.
Now, to understand who can avail of the benefits or invest in the scheme, let us have a look at its eligibility criteria.
Gram Suraksha Scheme: Eligibility Criteria
In order to invest in the Gram Suraksha Scheme, you need to fulfil the eligibility criteria prepared by the official authority.
1. The minimum age for the scheme is 19 years and the maximum is 55 years old.
2. The minimum sum assured is Rs 10,000, and the maximum sum is Rs 10 lakh.
Gram Suraksha Scheme: Important Points
If the scheme is abandoned before 5 years, it will not be eligible for a bonus.
The scheme provides a loan facility after 4 years of investing.
The scheme can be changed into an endowment assurance policy up to the age of 59, provided the date of conversion does not come within one year after the date of premium cessation or maturity.
The premium paying age can be 55, 58 or 60 years.
You can surrender the policy after 3 years of investing in the scheme, however, in that case, the investor won’t receive any benefits. Or, if the policy is surrendered, the authority provides a proportionate bonus on the lower sum.
The most recently disclosed bonus of the scheme is Rs 60 per Rs 1000 cash assured per year.
Now, as you know investing helps you earn more money, go and make an informed decision to secure the future of you and your family.
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