Invest Rs 1,500 per month; get Rs 35 lakh on maturity under this post office scheme

According to the India Post website, Gram Suraksha Yojana is open to everyone aged 19 and over. The upper limit of eligibility for this scheme is 55 years.

Hyderabad: India Post that introduces programmes aimed at the rural populace has now created the Gram Suraksha Yojana or Gram Suraksha Scheme as part of its Grameen programme.

Under this, an investor who deposits Rs 1,500 per month can obtain a return of up to Rs 35 lakh. According to the India Post website, Gram Suraksha Yojana is open to everyone aged 19 and over. The upper limit of eligibility for this scheme is 55 years.

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While the Gram Suraksha Yojana offers a minimum value assured of Rs 10,000, customers can opt for any amount up to Rs 10 lakh. The sum assured with bonus is payable when the person reaches the age of 80 or above to their legal heir/nominee in the event of death, whichever occurs earlier.

The investor can pay the premium on a monthly, quarterly, half-yearly, or annual basis. A 30-day grace period is granted to the customer to pay the premium. In the event of a default during the policy’s term, the subscriber can reinstate the insurance by paying the outstanding premium.

If an individual invests Rs 10 lakh in a Gram Suraksha policy at the age of 19, the monthly premium will be Rs 1,515 for 55 years, Rs 1,463 for 58 years, and Rs 1,411 for 60 years. The maturity benefit for 55-year insurance is Rs 31.60 lakh, while for a 58-year policy, it is Rs 33.40 lakh. The 60-year maturity benefit will be Rs 34.60 lakh.

The customer can also choose to surrender the policy after three years, however, in that case, you will not be eligible for any Gram Suraksha Yojana benefits.

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