Post Office Monthly Income Scheme: Small savings come in handy in times of crisis. Therefore, saving is very important. For this, you can invest in post office plans. The best thing is that in the Post Office Scheme, you get good returns as well as money security guarantee. Post Office Monthly Income Scheme (POMIS) can become a source of income for you. In this plan, you can add a significant amount of income every month. If you open a joint account in it, then you can get double benefit. Let’s know how?
Best Investment Plan of minimum one thousand
In the Post Office Monthly Income Scheme, both single and joint accounts can be opened. You can invest minimum Rs 1,000 and maximum Rs 4.5 lakh in a single account. At the same time, a maximum of Rs 9 lakh can be deposited in a joint account. You can also open more than two people in a joint account. The amount received at maturity is divided equally among all.
How much will be the interest?
The investment in the Post Office Monthly Income Scheme yields an interest of 6.6 per cent. In this, your total return is on an annual basis. Therefore it is divided into 12 parts per month.
How to earn 59,400
For example, if the husband and wife invest 9 lakh rupees in this scheme, then the annual return will be Rs 59,400 at 6.6 percent interest rate on 9 lakh deposits. If it is divided into 12 parts, then the month will be Rs 4950.
How to apply
The scheme is available in various branches of India Post. In this scheme, apart from single you can also open a joint account. For this you can contact the post office office. Here you have to apply for the Post Office Monthly Income Scheme.