The post office has always been the first choice of investors for small investments. Here the full interest of small investors is taken care of. However, it is necessary that the investment should be started as soon as possible. The sooner you invest, the greater the benefit. You can become a millionaire with a daily investment of just Rs 32 in the insurance policy Gram Santosh of the post office. Let us know about this scheme in detail.
Gram Santosh is the Endowment Assurance Scheme of the Post Office. In this, the minimum age of entry is 19 years and the age of maximum entry is 55 years. The minimum sum assured for this insurance policy is Rs 10 thousand and the maximum sum assured is Rs 10 lakh. Loan is also available on completion of three years of the policy. The policy can be surrendered even after three years. This policy matures in 35, 40, 45, 50, 55, 58, 60 years.
48 rupees bonus
In this scheme of post office, policy holders also get the benefit of bonus. However, it is necessary to run the policy for at least five years. According to the information available on the mobile calculator Mobile App Post Info for the policy of India Post, a bonus of 48 rupees is being received this year. The bonus amount is on an annual basis for every thousand sum assured.
Different benefits of maturity at different ages
If A is 25 years old and has purchased a post office Village Santosh Insurance Policy of Rs 3 lakh, then Rs 4.44 lakh on maturity of 35 years, Rs 5.16 lakh on maturity of 40 years, Rs 5.88 lakh on maturity of 45 years, 50 You will get Rs 6.60 lakh on maturity of the year, Rs 7.32 lakh on the maturity of 55 years, Rs 7.75 lakh on the maturity of 58 years and Rs 8.04 lakh on the maturity of 60 years.
Premium varies depending on durations
A Monthly premium will also vary according to how many days you buy this policy. Monthly premium for Rs 3518 for 35 years, Rs 1693 for 40 years, Rs 1223 for 45 years, Rs 956 for 50 years, Rs 768 for 55 years, Rs 690 for 58 years and Monthly premium for 60 years 643 will be Rs. In this way, the longer the premium paying term for your policy, the higher the maturity benefit as well as the lower the premium amount. The premium amount is also dependent on the age limit of the policy holder.
Premium will have to be deposited for 35 years
Suppose at the age of 25 years, A bought a sum assured of Rs 3 lakh and decided to invest in it till his retirement ie at the age of 60 years. He will have to pay the premium for 35 years and according to the calculator, the monthly premium will be Rs 643 i.e. Rs 22 daily. At the age of 60, he will get a total of 8 lakh 4 thousand rupees. The total amount of bonus will be 5 lakh 4 thousand rupees.
Get 5 lock 4 thousand as a bonus
Talking about the bonus calculation, the annual bonus is Rs 48 per thousand sum assured. Accordingly, the total bonus for one year would be Rs 14400 (300000/1000 = 300 * 48 = 14400). The total bonus in 35 years will be 14400 * 35 = 504000 rupees. Three lakh rupees will be available for the sum assured. In this way the total amount will be 8 lakh 4 thousand rupees.
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