Post Office Endowment Scheme: Get Rs 14 lakh by investing just Rs 95 per day in Gram Sumangal Scheme, check calculation here

Many safe and secure investment schemes are offered by post offices to Indian investors. Gram Sumangal Rural Postal Life Insurance Scheme is one of such schemes. In this scheme post office offers bumper returns along with several other benefits.

Post office introduced this scheme in 1995. There are 6 different insurance plans for investors to choose from. In one such plan investor can get rupees 14 lakh at time of maturity by investing just  Rs 95 daily.

Gram sumangal policy is available for 2 tenures- 20 years and 15 years. The max age to investors is 45 years and minimum is 19 years. In a 20 year policy 20-20% money back is available on completion of 6,9 and 12 years. 40% remaining will be provided as a bonus on maturity. Similarly in a 15 year policy 20-20 % money back is available at 8 12 and 16 years . 40% remaining will be provided as a bonus on maturity.

If a 25 year old person starts investing in the policy for 20 years with an assured sum of Rs 7 lakh. The premium for each month will be Rs 2,853 every month. Which comes down to just Rs 95 daily. Rs 1.4 lakh will be received by investors on the 12th and 16th year. Finally at completion of the scheme Rs 2.8 lakh will also be available as sum assured under the scheme.

Rs 48 is offered on bonus for every Rs 1000 invested. This brings the total bonus on Rs 7 lakh to be rupees 33,600. For the entire 20 years the bonus will be rupees 6.72 lakh. The total of 13.71 lakh will be paid in 20 years including Rs 7 lakh assured and Rs 6.72 lakh bonus. Rs 4.2 lakh will be available as money back and Rs 9.52 lakh will be given at maturity.