Post Office Scheme: Opportunity to Earn Rs 35 Lakh at Maturity by Investing Rs 50 Daily

Post Office Gram Suraksha Yojana: The India Post, a government-backed organization that provides many services for its citizens, serves as a significant way for individuals in India's rural areas to save money.

The India Post has put in place a number of risk-free savings plans that provide good returns in order to address the requirements of the people in the underdeveloped regions of the nation and secure their future. The Gram Suraksha Yojana is a prominent plan among several that the post office has launched under the Rural Postal Life Insurance Schemes Program.

The Post Office Gram Suraksha Yojana offers the option to switch from a whole life insurance policy to an endowment assurance policy after five years of taking the policy. In accordance with this, a policyholder can receive the most benefits while paying lower premiums up until the age of 55, 58, or 60.

Post Office Gram Suraksha Yojana: Eligibility, Features, and Benefits

Let's look at the key features, advantages, and eligibility of the India Post's Post Office Gram Suraksha Yojana:

• The minimum and maximum age at entry is fixed at 19 to 55 years

• Minimum Sum Assured Rs 10,000; Maximum Rs 10 lakh

• Loan facility after four years

• The policyholder can surrender after three years

• The scheme is not eligible for bonus if surrendered before 5 years

• Until the insured person reaches the age of 59, the policy may be converted into an endowment assurance policy as long as the conversion date does not coincide with the cessation of premium payments or the policy's maturity date by more than a year.

• Premium paying age can be opted for as 55, 58, or 60 years

• A proportionate bonus on the reduced sum assured is paid if policy is surrendered

• Last declared Bonus- Rs 60 per Rs 1000 sum assured per year

Post Office Gram Suraksha Scheme: Pay Rs 50 each day, Get Rs 35 lakh return

A policyholder who qualifies in the Gram Suraksha Yojana might receive up to Rs 35 lakh in returns by making monthly deposits of just Rs 50. If the policy is worth Rs 10 lakh, and the investor makes monthly investments of Rs 1,515, or around Rs 50 per day, they will receive a return of Rs 34.60 lakh when the policy expires. For terms of 55, 58, and 60 years, an investor will receive maturity benefits of Rs. 31,60,000, Rs. 33,40,000, and Rs. 34.60 lakh.

What is Rural Postal Life Insurance?

For Indian rural residents, the Rural Postal Life Insurance (RPLI) was first introduced in 1995. According to the India Post website, "The primary goal of the scheme is to give insurance cover to the rural public in general, to help poorer sections and women rural workers in particular, and to increase insurance awareness among the rural people."