Post Office Scheme: Do you also want to get extra income apart from salary every month? If you are looking for investment option for regular income, then Post Office Monthly Income Scheme can help you.
Post Office Scheme: Do you also want to get extra income apart from salary every month? If you are looking for investment option for regular income, then Post Office Monthly Income Scheme can help you. Because in this your money will be safe and Rs 9,250 will keep coming home every month. After 5 years, you will get your original i.e. the entire money back. If you also want to invest your earnings in such an investment, where the money is safe and you get a fixed income every month, then this government scheme of the post office can be a best option for you.
What is Post Office Monthly Income Scheme (POMIS)?
This is a government guaranteed scheme, in which once you deposit the money together, you get a fixed amount in the form of interest every month. The most special thing about this scheme is that the investment in it is completely safe and the interest rate is fixed in advance.
Who can open an account?
- Any person above 18 years of age can open an account in this scheme.
- The account can be opened personally or jointly.
- The joint account can be for up to three people.
- Parents can also open an account in the name of a child aged 10 years or above.
Interest rate and investment limit
- This scheme is offering an interest rate of 7.4% per annum.
- A maximum of Rs 9 lakh can be invested in a single account.
- A maximum of Rs 15 lakh can be invested in a joint account.
- The period of the scheme is 5 years, i.e. the money will remain locked for 5 years.
- Withdrawal of money is not allowed for the first 1 year.
How much will be the income every month?
- If you invest Rs 9 lakh, you will get an interest of about Rs 5,500 every month.
- If you deposit Rs 15 lakh in a joint account, you will earn about Rs 9,250 every month.
- After 5 years, you get the entire deposit amount back. If you want, you can invest it again.
Why invest in this scheme?
This scheme is very useful for the elderly or people who have retired from their jobs. Because their money is safe and they get income every month. For those who do not get pension, this can become a source of a fixed income every month. There is no risk in this scheme because this scheme is run by the government.
Most Read Articles:
- IT stocks: Nifty IT index fell 1% due to poor of TCS, shares of Infosys, Wipro and LTIMindtree fell
- Stock Market Today: All these shares will become today’s big stocks, Check before taking any trade
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
