The India Post acts as an important way in which people in the rural areas of India can save their money, as the government-backed entity offers several schemes for these citizens. To meet the needs of the people of the underdeveloped areas of the country, the India Post has in place several savings schemes that are risk-free and offer good returns, thus securing their future. Under the Rural Postal Life Insurance Schemes Program, the post office has launched multiple plans.
The Post Office Gram Suraksha Yojana is a whole life assurance policy with the added feature of an option to convert to Endowment Assurance Policy at the end of five years of taking policy. Under this, a policyholder can get maximum benefits by paying lower premiums till the ages of 55, 58 or 60 years.
Post Office Gram Suraksha Scheme: Pay Rs 50 Each Month, Get Rs 35 Lakh Return
Under the Gram Suraksha Yojana, a policyholder can get up to Rs 35 lakh returns by depositing a sum of just Rs 50 every month. If the person invests Rs 1,515 under the policy each month, which is Rs 50 every day roughly, then if the policy is worth Rs 10 lakh, the person will get a return of Rs 34.60 lakh after its maturity. . An investor will get a maturity benefit of Rs 31,60,000 for a term of 55 years, Rs 33,40,000 for 58 years and Rs 34.60 lakh for a term period of 60 years.