Invest Rs 1,411 per month to get a return of Rs 35 Lakh at maturity


Postal Savings Plan: India Post often offers programs aimed at the rural population. Several savings schemes offered by India Post are among the most popular risk-free savings schemes in the country. For the average middle-class Indian citizen, investing in good schemes with attractive fixed interest rates remains one of the top priorities. The post office, which is supported by the government, aims to meet the needs of the people. For this, India Post has developed the Gram Suraksha program under its rural program Postal Life Insurance Plans Program.

Rural postal life insurance policy was launched in 1995 for the rural population of India. “The main objective of the program is to provide insurance coverage to the rural public in general and to benefit the weaker sections and female workers in rural areas in particular and also to raise awareness among the rural population about insurance,” says a note on the India Post. website.

Under the Post Office’s Gram Suraksha Yojana, or Gram Suraksha Scheme, an investor can get up to Rs 35 lakh back if he deposits Rs 1,500 per month in this policy. This program can be a beneficial investment option for teenagers. Eligibility for the Gram Suraksha program is at 19, according to the post. The upper limit of eligibility for this program is 55 years old, the India Post website says. Any Indian citizen between these ages can apply for the program.

While the minimum sum insured under this plan is Rs 10,000, buyers can opt for any amount up to Rs 10 lakh under the Gram Suraksha scheme. The increased face amount is payable either at age 80 or to his legal/named heir in the event of death, whichever comes first.

The investor has the option to pay the premium for the Gram Suraksha program. You have the option of paying a monthly, quarterly, half-yearly or annual premium. A grace period of 30 days is granted to the customer to pay the premiums. In the event of a default during the term of the policy, the customer can pay the pending premiums to restart the policy.

If an investor invests in the Gram Suraksha policy of 10 lakh sum at the age of 19, the monthly premium for 55 years will be Rs 1,515, for 58 years Rs 1,463 and for 60 years Rs 1,411. The buyer of the policy will receive a maturity benefit of Rs 31.60 lakhs for 55 years, 33.40 lakhs for 58 years. For 60 years, the maturity benefit will be Rs 34.60 lakhs.

The client can also choose to surrender the policy after 3 years, but in this case you will not receive any benefits offered under the Gram Suraksha program.

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