It is extremely significant that everyone has a pension plan to administer their lives effectively after retirement and to manage their costs appropriately. Salaried people benefit from the pension facility after retirement, whereas unorganized employees have no such facility. In these circumstances, unorganized employees also experience challenges in managing their everyday costs after retirement or old age. If your retirement plan also belongs to the same group, then the PPF (Public Provident Fund) system of the Indian Post might be the ideal alternative for you. Let us have that scheme in mind.
Who is able to open an account?
An Indian citizen who is an adult can open his account under the PPF program of the post office. Besides, his guardian may also open the account of a minor individual.
How much you can invest?
You can begin to invest Rs 500 each year in this post office plan. At the same time, Rs 1.50 Lakh is the maximum investment. The depositors are also qualified under Section 80C of the Income Tax Act to claim a deduction under that section.
What is the current rate of interest?
The depositor now receives a 7.1 percent annual interest rate when investing under this plan. At the conclusion of each financial year, the interest is credited to the depositor’s account. Apart from that, the interest earned is tax-free.
The period of maturity…
It allows you to invest for a period of 15 years before your account matures. The year the account was opened, on the other hand, is not taken into consideration.
NOTE: – Simply follow this easy method to convert your spending into EMIs using your SBI Debit Card.
EMI is provided to its clients by the country’s largest State Bank of India (SBI) with the ability to purchase long-term consumer products from shops by swiping POS cards using SBI Debit Card. In addition, SBI clients also use this EMI service using debit cards while purchasing online using Amazon’s and Flip kart’s e-commerce platforms. Now we know how to take profit-
EMI on a Debit Card…
To begin, swipe your SBI Debit Card at the merchant’s POS terminal and pick Brand EMI – Bank EMI from the drop-down menu. Then specify the amount to be paid and the time frame in which it must be paid. Enter the pin and hit ‘OK’ when you have verified the POS machine eligibility. After a successful transaction, the loan amount is recorded. After that printed and signed the slip, which included the terms and conditions of the loan.
Log in with your cell phone number first of all to Amazon or Flip kart or another e-commerce website. Select and proceed to pay the needed brand registered with the bank. Choose from the several payment choices available in the Easy EMI option, and then choose SBI. The money is automatically collected when you input your duration and press on proceed. You must input your web banking data and debit card credentials here after this the SBI login page comes. The loan will be reserved and the conditions presented if it is accepted. The order will be booked thereafter.
These are the advantages you will get…
You will not have to pay any cost for this processing and will not charge any documentation and receive disbursement straight away. In addition, the savings account balance is not banned, either.
How much interest should be paid?
This allows you to obtain a loan of Rs 8,000 to 1 lakh and, according to the current interest rate, pay interest of 14.70 percent.
Credit – Komal Sharma