Everyone has the same question about life after retirement: How will we manage daily expenses once our regular income stops? Will we be dependent on our children, or will we have a solid fund of our own? To address these concerns, the government periodically introduces savings schemes that offer safe investments and excellent returns.

Today we are talking about one such excellent investment plan, which is specially designed for those people who want to ensure a fixed income for themselves every month by depositing a lump sum amount.

What is this special scheme?

This scheme is primarily aimed at senior citizens and investors who are risk-averse. The biggest advantage of this government scheme is that your money is completely safe and you don't have to worry about market fluctuations. The current interest rates offered under this scheme are very attractive, making it a better option than bank FDs or other traditional savings instruments.

How to get Rs 20,500 every month?

People are often confused about how such a large sum can be received as a monthly pension. The math is quite simple. If an investor utilizes the maximum investment limit set under this scheme, they can easily earn a monthly income of up to ₹20,500 at current interest rates.

For example, if a husband and wife open a joint account and invest their savings, the total monthly interest they receive is sufficient to cover their household expenses. This is a boon for those who have received retirement funds but want to invest them wisely.

Some key features of the scheme

1. Investment Safety: Since it is a government-backed scheme, there is no risk of capital loss.

2. Guaranteed returns: The interest rate, fixed at the time of investment, remains constant throughout the term. This ensures the investor knows exactly how much they will receive each month.

3. Nomination facility: You can nominate any member of your family when opening the account.

4. Account transfer: If you change your city in the future, you can easily transfer this account to any corner of the country.

Who should invest?

This plan is suitable for anyone who wants to invest their hard-earned money without any risk. It's especially a great option for retired employees, senior citizens, or those who want to stay out of the volatility of the stock market.