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Post Office Monthly Income Scheme: If you are planning to invest, then you can earn every month by depositing money in this Post Office Small Savings Scheme and Monthly Income Scheme (POMIS).
Retirement will be arranged
When you take retirement, you get a big fund at that time. In such a situation, you can invest in POMIS scheme. The post office scheme is completely risk free. You also get a fixed income of Rs 2500 per month instead of Rs 4.50 lakh. If you have a lump sum amount, then you can earn monthly income through this post office scheme. In this, you can double the money profit through joint account.
There will be income every month
If you invest in the Post Office’s Monthly Income Scheme (MIS), you get a chance to earn every month. Many people can take advantage of this scheme for pension after retirement. In this, you can earn every month by investing lump sum money. Your deposited money will be safe in this scheme. Also, you get the full amount back in 5 years. You can take advantage by opening single and joint account under MIS scheme.
will get this much interest
The Central Government has increased the interest rates of some small savings schemes for the December quarter. Which includes the Post Office Monthly Income Scheme. The central government has increased the interest rate on this monthly income scheme from 6.6 percent to 6.7 percent. The monthly income of those who deposit money in this scheme increases.
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What are the benefits of the scheme
- The duration of this scheme is 5 years, but after 5 years it can also be extended further according to the new interest rate.
- You will get better returns under the scheme as compared to bank FD.
- If you do not withdraw the monthly money, it will remain in your post office savings account. By adding it to the principal, you can get interest even further.
Understand the whole plan like this
In POMIS, a maximum of Rs 4.50 lakh can be deposited through a single account and Rs 9 lakh through a joint account. The interest under this scheme will be 6.7 per cent per annum. If you have deposited 9 lakh rupees in the scheme, then the total interest for 1 year will be 60300 rupees according to the interest rate of 6.7 percent per annum. This amount will be distributed in 12 months of every year. The interest of every month will be around Rs.5025. On the other hand, if you deposit Rs 4,50,000 lakh through a single account, then the monthly interest will be Rs 2513. 3 people can join the joint account. The maximum limit of investment is Rs 9 lakh.
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