- Investment in this scheme of Post Office can be started with a thousand rupees
- Can open Joint Account in Post Office Scheme alone or with your partner
new Delhi. Equity Market Investors suffered significant losses in the equity market during the Coronavirus Lockdown Phase. On the other hand, investment in Mutual Fund and Mutual Fund (SIP Investment) is also pointing towards loss. Interest rates have also been reduced in other small savings schemes by the government. In such a situation, the Post Office Monthly Scheme is giving people a chance to earn every month. If you invest alone, you can invest from Rs 1000 to Rs 4.5 lakh. At the same time, a joint investment of Rs 9 lakh can be made under joint investment. After which you get every interest rupee earns you. Let us also tell you about this plan…
Benefits of the scheme?
– On opening a joint account, the income received in the form of interest is given equal in both accounts.
– A joint account can be converted into a single and a single joint at any time.
– Before making any change in the account, you have to give a joint application.
There are some such conditions
– If you have not opened your account for a year, then you will not be able to withdraw money from it.
– If the investment is one to 3 years, then you will get a rupee by cutting 2%.
– After 3 years of investment and withdrawal of rupee from the scheme maturity, one percent will be deducted.
Some special features of the scheme
– You can transfer the account to any post office.
– After the completion of 5 years of the scheme, you can reinvest.
Nominee can also be appointed in the scheme, so that the nominee can get money in case something happens to the original investor.
– In this scheme you have to pay tax on interest, TDS will not be deducted.