Post Office Scheme! You will get Rs 9,250 pension every month, just deposit the money once
Post Office Scheme: Do you want to earn extra income each month beyond your salary? If you’re looking for investment options for regular income, the Post Office Monthly Income Scheme can help.
Post Office Scheme: Do you also want to receive extra income every month, in addition to your salary? If you’re looking for an investment option for regular income, the Post Office Monthly Income Scheme can help. Your money will be safe, and you’ll receive ₹9,250 every month. After 5 years, you’ll receive your principal back. If you’re looking to invest your earnings in a safe, fixed-income investment, this government scheme from the Post Office could be an excellent option.
What is the Post Office Monthly Income Scheme (POMIS)?
This is a government-guaranteed scheme that provides a fixed monthly interest upon depositing a lump sum. The most important feature of this scheme is that the investment is completely secure and the interest rate is pre-determined.
Who can open an account?
Anyone above 18 years of age can open an account under this scheme.
The account can be opened individually or jointly.
A joint account can be opened for up to three people.
Parents can also open an account in the name of a child aged 10 years or older.
Interest Rate and Investment Limit
This scheme offers an annual interest rate of 7.4%.
A maximum investment of ₹9 lakh can be made in a single account.
A maximum investment of ₹15 lakh can be made in a joint account.
The scheme has a 5-year term, meaning the funds will remain locked in for 5 years.
Withdrawals are not permitted for the first year.
How much will your monthly income be?
If you invest Rs 9 lakh, you will earn an interest of approximately Rs 5,500 per month.
If you deposit Rs 15 lakh in a joint account, you will earn approximately Rs 9,250 per month.
After 5 years, you get your entire deposit back. You can reinvest it if you wish.
Why invest in this scheme?
This scheme is very useful for the elderly or those who have retired from their jobs. Their money remains safe and they receive a monthly income. For those who do not receive a pension, this can provide a source of fixed monthly income. There is no risk involved in this scheme because it is run by the government.
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