Post Office Monthly Income Scheme POMIS is a special monthly income scheme offered only by the post office. In this scheme, interest payment starts one month after opening the account and this money is available till maturity. If you want, you can take interest money monthly, quarterly, 6 months or annually.
Post Office savings schemes are very popular across the country, especially poor and middle class families invest more in post office savings schemes. The biggest reason for this is the safety of money with stable returns. Do you know about Post Office Monthly Income Scheme, in which interest money starts coming only after investing, and this amount is maximum Rs 5500 on a single account.
POMIS is a special monthly income scheme offered only by the post office. The special thing is that in this scheme, account holders get monthly interest at the rate of 7.4%. Let us tell you the features of Post Office Monthly Income Scheme…
Features of POMIS scheme
-A minimum investment of ₹1000 can be made in POMIS scheme, but the maximum investment limit is limited to ₹9 lakh. However, a maximum of ₹15 lakh can be deposited in a joint account.
-In this scheme, interest payment starts one month after opening the account and this money is available till maturity.
-The duration of this scheme is 5 years, and through this you can arrange for permanent guaranteed income every month.
How to get 5500 rupees every month
Since, the biggest feature of this special scheme of the post office is that the payment of interest money starts after one month, and this income from interest can be up to Rs 5500 per month.
If a single account holder invests a maximum of Rs 9 lakh in his account, then he will be paid Rs 5500 every month at an interest rate of 7.4%. Whereas, in case of a joint account, this monthly interest amount will be Rs 9250 due to a maximum investment of Rs 15 lakh.
If you want, you can take the interest money monthly, quarterly, 6 months or annually. On completion of the 5-year period, the principal amount deposited in the account and the interest earned are paid.
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