The savings schemes of the Indian Post Office are very popular among people. These schemes are risk-free and provide guaranteed returns. That is why millions of people invest in Post Office schemes.
If you are looking for a safe and secure investment option, the Gram Suraksha Yojana of the Indian Postal Department can be a good choice.
This scheme comes under Rural Postal Life Insurance and is specially designed for people living in rural and semi-urban areas. Even people with low income can build a large amount by investing a small sum regularly.
According to Pramod Agnihotri, Assistant Superintendent of the Post Office, by investing just ₹50 per day or ₹1,500 per month, a person can create a fund of up to ₹35 lakh in the future.
Key Features of Gram Suraksha Yojana
The Gram Suraksha Yojana is a life insurance policy that offers both investment and protection. The insurance cover ranges from a minimum of ₹10,000 to a maximum of ₹10 lakh.
Any Indian citizen between the ages of 19 and 55 years can join this scheme.
Investors can pay premiums monthly, quarterly, half-yearly, or annually, according to their convenience.
A special feature of this scheme is that a loan facility is available after four years of purchasing the policy. If needed, the policy can also be surrendered after three years. However, if the policy is surrendered before five years, the bonus benefit is not given.
If the policyholder dies before the policy term is completed, the nominee receives the sum assured along with the accumulated bonuses. T
he policy can mature at a maximum age of 80 years, which makes it suitable for long-term investment and higher returns.
How Can You Get ₹35 Lakh?
Pramod Agnihotri explained that if a person starts this scheme at the age of 19 and deposits ₹1,500 every month, they can receive around ₹31 lakh to ₹35 lakh at maturity.
The final amount depends on the policy term, the sum assured, and the bonus rate declared by the Post Office.
