new Delhi. If you are also planning to invest, then the best option for you is the Indian Post Office. In which the post office monthly income scheme account ‘POMIS’ (Monthly Income Scheme Account) can be a better scheme if income is guaranteed every month. Under this scheme, married people get double profits. It provides facility to open both single and joint accounts. Single investors get an annual income guarantee of at least Rs 2475 or Rs 29,700 per month, while double the profit in a joint account.
There is income every month
If you open a POMIS account in a single account, then a lump sum of Rs 4.5 lakh is to be deposited. At the same time, you can deposit a maximum of 9 lakh rupees through a joint account. This amounts to 6.6% per annum, which is made in the whole year. It is divided into 12 months. Every month’s amount is your monthly income. The scheme has a maturity of 5 years, but it can be extended for 5.5 years under further reinvestment.
How to open POMIS account
-You can open a POMIS account by going to your nearest post office. To open this account, you will need an identity card, residential proof, 2 passport size photos. Submit cash or check for the fixed amount to open the account with the form.
6.6 percent annual interest
Monthly Income Scheme POMIS in the post office gets 6.6% interest annually.
Interest will be payable till the completion and maturity of one month from the date of opening the account.
– If the interest payable every month is not claimed by the account holder, then no additional interest will be earned from such interest.
– In case of any additional deposit made by the depositor, the excess deposit will be refunded and only the ‘Savings Account Interest’ will be applicable from the date of account opening to the date of withdrawal.
Interest can be withdrawn through auto credit or from ECS in the savings account of the same post office.
-The interest received by the depositor is taxable.
Will get about 60 thousand annually
You can deposit at least Rs 4.5 lakh in the post office monthly income scheme through a single account.
Some interest on this amount will be Rs 29,700, according to the annual interest rate of -6.6 per cent.
– In this scheme a maximum deposit of 9 lakhs can be deposited through a joint account. According to the interest rate, the total interest on this amount will be Rs 59,400.