“Hello friends, hello everyone. In this post, we will see the details of a super savings scheme available at the post office.
What is Gram Suraksha Yojana?
You have come to know about the scheme called ‘Grama Suraksha Yojana’ available at the post office; by investing Rs. 50 diaries, you can get an income of up to 30-35 lakhs. What are the benefits and features of this scheme? Who can apply? How can I apply? Let’s see the full details one by one.
Gram Suraksha Yojana Eligibility Criteria
First, let’s see what Gram Suraksha Yojana is. As for this scheme, it is a postal life insurance scheme available at the post office. In this scheme, you get two benefits, namely insurance plus savings. They come and give in to this scheme. Life is also covered, plus this scheme will be very useful for your savings.
How can we come and invest our ₹50?
We can take that as our investment, whether we come and invest our 32 locks or 30 locks. You also get ₹50 daily. Then 30 in a month, that is, 30 out of 50. Then, if you come and see each other in a month, you will earn a total of ₹1500. If you take 12 out of that 1500, you will earn a total income of ₹18,000 in a year. That is the target here. We will see all of that one by one or step by step.
Benefits of Gram Suraksha Yojana
First, in this scheme, the maturity period, i.e., the tenure, comes. Some tenures are available here. Whatever tenure you opt for, you will get a lot of benefits from this. Those who are of age, when you opt for a longer-term tenure, you will get more benefits. So, in terms of this scheme, you plan your pension yourself, and then you can opt for it. They have given you many options, like 10 years, 15 years, and 20 years.
You can use this maturity option even up to the ages of 55, 58, and 60 and get a lot of benefits from this scheme. So, if you look at this scheme, then who is eligible? So, who is eligible for this scheme? Can you join? Who is eligible? Who is ineligible? Let’s see that. So, those of you who are between the ages of 19 and 55 can freely come and join this scheme.
You will see the next thing; if you come and see the people in the village, then they will give first preference. Not only that, to join this scheme, there are minimum documentations such as an Aadhaar card, Otter ID, and residential proof, so if you have any proof like this, you will be able to freely join this scheme.
Gram Suraksha Yojana Tax Benefits
So, next thing, through this scheme, you will get all the tax benefits by investing. So, let’s see that one by one. So, as far as this scheme is concerned, there are tax-free returns under Section 10D So, you have tax-free, i.e., tax-free. Not only that, there are loan facilities in this scheme. So, after three years, you can take a loan for the amount you have invested in this scheme.
There are also nominee facilities and a guaranteed bonus every year, i.e., when you see this scheme, you get a bonus every year, and they give a bonus. Not only that, you do not have TDS detections in this scheme. So, next, when you come to this scheme and see where you can go and invest in this scheme, then you see that this scheme is available in your nearest post office.
Also Read: Tamil Nadu Welfare Board Registration Guide
So, you should have a normal savings account in the post office. That you can merge this investment account with your account and use it freely. So, go there, and they will give you an application form. So, in that form, what are your details, the nominee details, your payment amount, and how much are you going to invest? If you provide all those details, you can easily join this scheme.
Gram Suraksha Yojana Bonus Calculation Explained
So, next, let’s see how this calculation is done through simple calculation, step by step, one by one. Let’s see how we can earn 32.30 lakhs, that is, 32.35 lakhs. So, let’s say you have reached the first step age, and it takes 20 years. So, it’s been 20 years since you reached that age, so you have invested daily, so you have invested ₹50, and you have invested daily.
We took ₹50, so we have saved ₹1500 per month, so we have converted that 1500 into our annual income, so we have taken 1500 into 12, so we have earned ₹18,000 per year. You see the years you have to pay a premium for us, so it is 40 years. With age, you will pay till you are 60 years old because after you are 60 years old, there are more benefits.
Gram Suraksha Yojana Maturity Value & Returns
Then you saw in step 6, so the total investment you have taken is 40 years. So, when you invest ₹18,000 in 40 years, you will have invested a total of ₹720,000 in 40 years. So, from here, you will get the Sum Assured Value, so you will get 10 lakhs of Sum Assured Value. These are the guaranteed returns, that is, a particular Sum Assured Value, that you will invest. When you take it, you say you want 5 lakhs, you want 10 lakhs, you want 15 lakhs, etc. So, in this scheme, you have come up with a sum assured value of 10 lakhs, and you can take it.
Next, you see the bonus values. You saw in step 8 the estimated bonus value; you saw that you will get approximately ₹25 lakhs for those 40 years. So, ₹25 lakhs is what you get, so I will tell you one by one how we calculate this bonus value in the next step. So, now you have earned ₹25 lakhs, and I have come up with approximately ₹50. So, for every ₹1000 rupees, you will get a bonus value ranging from ₹50 to ₹100. So, it will be based on the premium amount you pay.
Now, if you look at the total matured amount, then 10 lakhs, the sum assured value, will be 10 lakhs, and you will get a bonus value of 25, that is, 25 lakhs. So, if you look at the total value that we can get, then it’s ₹35 lakhs. So, in step 10, the matured age will come, and you will get these benefits only after the age of 60.
So, not only that, but in this scheme, you will also get tax-free under section 10A. Next, there are loan options; that is, loan availability has been given to you in this scheme. So, after three years, you can take a loan option loan, so they have given you options for that.
Now we have seen our details from step 1 to step 12. So, how do we invest in which calculations and how much? Here, I have given you only step eight, that is, how we calculate the bonus value, in a separate presentation. We have come to the sum assured value, have come to 10 locks, and have sued. Then, for every ₹1000 rupees, they come to us and give us ₹50 as bonus value.
Let’s see how we calculate it. So, let’s take the annual bonus. So the sum assured value we can get is 10 lakhs divided by 100. So, for every ₹1000 rupees, it is ₹50. So, let’s see how many thousand there are in 10 lakhs. So, then a thousand, that is, 1000 thousand, comes in 10 lakhs. So, then we have 50 of 1000, and then we have come to see that it is 50,000 per year. If you only saw the bonus value for one year, then we will make our gain of 50,000. Then we come to see that we have to pay a premium for how many years? 40 years. So,
The premium for each year is the bonus value, and 50,000 comes with that 10 lakhs. Every year, we get 10 lakhs 50,000, 11 lakhs, and 11 lakhs 50,000, and our bonus value will also be added to that premium. Then if we take 40,000 out of 50,000, the total value we can get is 20 lakhs. So, I have taken this bonus value as an approximate value. So, you have seen the minimum, so your bonus value will be 50,000, that is, between 50 and 100. That will be your premium base, so when your bonus value increases, then even that, your value, will increase, and you will get more.
How do you get this bonus value? We have seen step by step how much and what amount we get if we invest. So, I think you have understood all these steps. If you do not understand, then please comment and I will explain more in detail to you.
You have seen this scheme too; then these schemes will be very safe and secure for you. There will be no connection with the market. These schemes will not have any attachment to the market. You can invest in these schemes if you dare. ₹50 is just an expense for a meal in this scheme. When you save for that scheme, your future will be better.
This scheme has come up in the post office and is a better scheme. If you come up with a higher pension scheme and you plan, then you can freely avail these postal life insurance schemes. As far as the premium amount is concerned, if you pay ₹18,000 per year, then your premium will be based on that age. The higher your age, the higher your premium will be, and the lower your age, the lower your premium will be.