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    1. Every mutual fund scheme/ SIP has 2 different plans "Direct" and "Regular"?
    2. Yes No
    3. "Direct Plan" gives 1.5% more returns than "regular plan" year on year?
    4. Yes No
    5. In regular plan this 1.5% goes to agent or advisor?
    6. Yes No
    7. Should this benefit of direct plan be given to investor's?
    8. Yes No
    9. In long run maturity value of SIP of Rs. 5000 in "direct plan" can be higher than maturity of regular plan?
    10. 50 Lacs
      75 Lacs
      1 Crore

    How Senior Citizen Savings Scheme-SCSS Works

    Posted By :  admin  Posted Date : 02-09-2017  Last Updated: 07-09-2017

     How Senior Citizen Savings Scheme-SCSS Works 

    This is the best investment in safe investments for retired individuals, backed by the surety of the Government.In India this is a Central Government sponsored scheme, which is provided by Post Office and designated branches of banks.
    ?Post Office.
    ?State Bank of India-SBI.

    What are the benefits of SCSS?

    This gives you an opportunity to get regular income after retirement for your necessity. It gives you 9.2 % annual return paid in 4 equal parts on quarterly basis.
    This product is for 5 years and total 15 lacs can be invested in one name and 30 lacs in joint name, in Post Office or designated branch of banks.

    Is there any Tax benefit?

    Investment up to 1 lac qualifies for the deduction of income. The returns from the scheme are taxable in the hands of individuals.

    Is it suitable for individuals?

    No plan is good or bad, only the situation of individual decides whether he or she should buy the product or not.
    You should not buy any plan without planning your need at retirement. This plan gives you money for expenses and hardly adds any value to your purchasing power.
    By the end of the term of this product your capital loses its purchasing power by 32% if inflation for the period remains at 8% for you. Investment without knowing your need you can have income for some time but with passing passage of time the amount will be insufficient for you.

    The answer is comprehensive customized life planning, this makes you plan your life with approximately all the domains of life with long horizon.

    To carry out all your responsibilities you need to plan your life.

    Years Your Investment in Rs Annual Return @ 9% Inflation Your expenses your surplus
    This year 1500000 135000 8% 120000 15000
    After 3 years 1500000 135000 8% 151166 ?
    After 5 years 1500000 135000 8% 176319 ?

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