This New Post Office Scheme Will Give You ₹ 14 Lakhs

This New Post Office Scheme Will Give You ₹ 14 Lakhs

There are huge options of schemes out in the market that serve the purpose of investment but this Post Office Scheme is thought as the best option to invest in the market asit guarantee secure and safe investment. There are many post office schemes to double money and many other schemes. 

You can invest in the “Gram Sumangal Rural Postal Life Insurance Scheme” to obtain better benefits in the future. This scheme is known as an endowment scheme that offers money-back along with insurance cover especially to the people who are living in rural areas. 

Another fact about this scheme is that if you invest Rs 95 on a daily basis then you can earn up to Rs 14 lakhs when the scheme ends. The “Rural Postal Life Insurance Scheme” was initiated in 1995. Under this scheme, the post office provides 6 varied insurance plans. 

Post Office Scheme: Gram Sumangal Rural Postal Life Insurance Scheme

This scheme which is also referred to as the Anticipated Endowment Assurance is a money-back scheme. This scheme is great for people who have periodic needs for cash in the case of their short-term financial liabilities. This scheme is aimed to offer insurance cover to the people who belong to the rural areas. This scheme is of two types: 15 years tenure and 20 years tenure.


The eligibility criteria for this post office scheme 2021 are mentioned below:

  • Minimum Entry Age: 19 years
  • Maximum Entry Age: 45 years for 15 years term, and 40 years for 20 years term. 
  • Eligible Employees:
    • State Government
    • Reserve Bank of India
    • Central Government
    • Local Bodies
    • Defense Services
    • Public Sector Undertakings
    • Para Military Forces
    • Government-aided Educational institutions
    • All scheduled Commercial banks
    • Autonomous bodies
    • Financial institutions
    • Nationalized banks
    • Extra departmental agents in the Department of Posts


The following are the advantages of the Gram Sumangal Rural Postal Life Insurance Scheme:

  • Survival Benefits: Under the Gram Sumangal Rural Postal Life Insurance Scheme, the survival benefit is clear in periodic payments. The below table depicts the survival benefits that are payable under this scheme. 
15 year term Gram Sumangal
20 year term Gram Sumangal
Survival benefit
6 years completion
8 years completion
20% of sum assured
9 years completion
12 years completion
20% of sum assured
12 years completion
16 years completion
20% of sum assured
15 years completion
20 years completion
40% of sum assured
  • Death Benefit: In the case of death of the individual who is assured during the specified term under the Gram Sumangal Rural Postal Life Insurance Scheme, the total assured sum and also the collected bonus will be paid to the nominee without doing any adjustments from the already made periodical payments towards some benefits. 
  • Maturity Benefits: When the policy matures, the insured receives the sum that has been assured along with the bonus if earned any. Post office scheme calculator is available for those who wish to calculate their tenure first before investing. 

The Bottom Line

Any post office scheme is always more reliable to the customers than any other investment option of a similar time, as the risk in these investments is very less. One similar investment is the Gram Sumangal Rural Postal Life Insurance Scheme that is mainly for rural individuals and will offer up to Rs 14 lakhs at the time of maturity. Such investment schemes are better for long term investments like for 15 or 20 years. If you are wondering whether it is a post scheme for senior citizens, then you are wrong. It is not for senior citizens. Other rural schemes include Kisan Vikas Patra, Prime Minister Post Office Scheme, and many more.

Frequently Asked Questions On Post Office Schemes

1. What is the interest of 1 lakh in the post office?

The interest rate is calculated as per the post office interest rate table 2021. In a 1 lakh scheme with a maturity period of 5 years, the rate of interest is 7.1% per annum.

2. Which scheme has the highest interest rate?

The scheme with the highest rate of interest is the Unit Linked Insurance Plan (ULIP) by the post office.

3. Which scheme is best for children in the post office?

The post office scheme for boy child and girl child as well is the Ponmagan Podhuvaippu Nidhi Scheme.
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Andrey Ivanov

Andrey Ivanov is a business and finance expert. He has analyzed the finance and business market closely and writes all his articles with utmost precision.

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