Post office scheme: Invest in THIS plan Rs 95 per day, get Rs 14 lakh at the time of maturity, check return calculator & details

Indian citizens between the ages of 19 and 45 can take benefit from the programme. This plan also offers 10 lakh rupee insurance. After the unfortunate passing of the policyholder, the insurance amount will be credited to the legal heir or nominee, or family member.

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New Delhi: Investments are always a great strategy to safeguard your future and be ready for economical difficult times or emergencies. Even after that, lots of people still don't invest beacause of high premiums. Today, even the populace with average income can invest in a number of programmes with very cheap premiums or investments.

A small savings programme called the Sumangal Rural Postal Life Insurance Scheme would take care of all your problems if you invvest in this. Here's all the detail  of the schemes including return calculator, interest rate, maturity period, eligibility criteria, procedure  of investments and more.

Indian citizens between the ages of 19 and 45 can take benefit from the programme. This plan also offers a 10 lakh rupee insurance. After the unfortunate passing  of the policyholder, the insurance amount will be  credited to the legal heir or nominee or the family member.

The account has two maturity windows 15 years and 20 years. On completion of 6, 9, and 12 years in a 15-year policy, 20–20 percent of the total assured will be available as money-back. In addition, a 20-year policy offers money-back at the conclusion of 8, 12, and 16 years. A bonus on maturity is available for the remaining 40 percent.

Return calculator

If you take 20-year policy at the age of 25 with a 7 lakh rupee sum assured, will required to pay a premium of Rs 95 every day. A month's worth is Rs. 2850, and a year's worth is Rs. 17,100. You will receive your money back, but it will be worth Rs. 14 lakh when it reaches maturity. Along with receiving money periodically, you also repay the money.

In a 20-year policy with a value assured of Rs. 7 lakh, you receive 20 percent of the sum assured in the aforementioned 8th, 12th, and 16th years. After three instalments, the cost will total Rs 4.2 lakh (20 percent of Rs 7 lakh is Rs 1.4 lakh). Following this, you will receive Rs 2.8 lakh in the 20th year, which would finish off the sum promised amount.

Following that, you would receive a bonus of Rs 48 per 1,000 rupees yearly. This sum will equal Rs 6.72 lakh in 20 years. That means you would receive a total of Rs. 9.52 lakh upon maturity. The total amount due upon maturity and money returned is Rs 13.72 lakh.

Those who are unable to wait until maturity time will benefit the most from this approach. those who will require cash withdrawals in the near future. For them, this strategy might be useful.