Finance Minister (Minister of Finance of India) Nirmala Sitharaman (Nirmala Sitharaman) gave great news for senior citizens in the budget speech on Wednesday. The Finance Minister doubled the amount of deposits in two schemes of Savings Scheme for Senior Citizens during the budget speech on Wednesday. As a result, the citizens of Prabir can get more interest in the savings scheme at the post office.
These two schemes are Senior Citizen Savings Scheme and MIS or Monthly Income Scheme. Until now, senior citizens could keep a maximum of Rs 15 lakh in the first scheme. The finance minister said today that it has been doubled to a maximum of 30 lakh rupees. Senior citizens used to get special benefits in post office MI as well. He could keep a maximum of four and a half lakh taka individually and a maximum of nine lakh taka in a joint account.
Presenting the budget today, the finance minister said that from now on senior citizens can collect more interest by saving more money if they want. From now on, a maximum of seven and a half lakh taka can be kept in this scheme personally. In case of joint account, a maximum of Rs. fifteen lakhs can be kept. For the past few years, the citizens of Prabir have been in trouble due to the reduction of interest rates in banks and post offices.
There are many who run their families on the interest of Post Office Savings Scheme. As a result, there are demands to increase the interest rate in the post office or to increase the amount of savings. Senior citizens will get some relief in the finance minister’s budget speech. Those who deposit extra money will get extra interest. On the other hand, agents will also get additional commission as the amount of deposit is doubled.