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Post Office Endowment Scheme: Get Rs 14 lakh by investing just Rs 95 per day in Gram Sumangal Scheme, check calculation here

The Gram Sumangal Rural Postal Life Insurance Scheme was introduced by Post Office in 1995. Gram Sumangal scheme is available for two tenures of 15 years and 20 years.

Investing Schemes by Post office

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Investing Schemes by Post office

Many safe and secure investment schemes are offered by post offices to Indian investors. Gram Sumangal Rural Postal Life Insurance Scheme is one of such schemes. In this scheme post office offers bumper returns along with several other benefits.

Gram Sumangal Rural Postal Life Insurance Scheme

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Gram Sumangal Rural Postal Life Insurance Scheme

Post office introduced this scheme in 1995. There are 6 different insurance plans for investors to choose from. In one such plan investor can get rupees 14 lakh at time of maturity by investing just  Rs 95 daily.

Details of the Gram sumangal policy

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Details of the Gram sumangal policy

Gram sumangal policy is available for 2 tenures- 20 years and 15 years. The max age to investors is 45 years and minimum is 19 years. In a 20 year policy 20-20% money back is available on completion of 6,9 and 12 years. 40% remaining will be provided as a bonus on maturity. Similarly in a 15 year policy 20-20 % money back is available at 8 12 and 16 years . 40% remaining will be provided as a bonus on maturity.

How to make Rs 14 lakh?

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How to make Rs 14 lakh?

If a 25 year old person starts investing in the policy for 20 years with an assured sum of Rs 7 lakh. The premium for each month will be Rs 2,853 every month. Which comes down to just Rs 95 daily. Rs 1.4 lakh will be received by investors on the 12th and 16th year. Finally at completion of the scheme Rs 2.8 lakh will also be available as sum assured under the scheme.

Rs 14 lakh in 20 years

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Rs 14 lakh in 20 years

Rs 48 is offered on bonus for every Rs 1000 invested. This brings the total bonus on Rs 7 lakh to be rupees 33,600. For the entire 20 years the bonus will be rupees 6.72 lakh. The total of 13.71 lakh will be paid in 20 years including Rs 7 lakh assured and Rs 6.72 lakh bonus. Rs 4.2 lakh will be available as money back and Rs 9.52 lakh will be given at maturity.

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