Post Office Scheme: If you are looking for good investment scheme options for guaranteed returns, then you can invest in post office schemes. Today we are discussing the post office scheme POMIS. In this scheme, you can take advantage of high returns without risk. You can earn money through the Post Office Monthly Income Scheme (POMIS).
Interest rate 7.4% per annum
The current interest rate on post office monthly income account is 7.4 percent annually. In this, a maximum of Rs 9 lakh can be deposited through a single account and a maximum of Rs 15 lakh through a joint account. Post Office Monthly Income Account is a government-backed small savings scheme, where guaranteed returns are available. If there is a post office scheme, then 100 percent security is guaranteed in it. There is also the facility of opening a single account as well as a joint account with the spouse.
Who can open a POMIS account?
1. Single account in the name of an adult.
2. Joint Account (Maximum 3 Adults) (Joint A or Joint B).
3. In the name of the minor, his guardian can open the account.
4. Invest if you are a minor of 10 years.
Rules of Deposit in POMIS
1. To open this account, one has to invest at least Rs 1000, after which it can be deposited in multiples of Rs 1000.
2. The maximum deposit allowed in single account is Rs 9 lakh and Rs 15 lakh in joint account.
3. In a joint account, each holder has an equal share in the investment.
How is interest added to this scheme?
This small savings scheme is getting 7.4 percent annual interest. Whatever annual interest is charged on the money deposited in it, it is divided into 12 parts and it will come in your account every month. If you do not withdraw the money monthly, it will remain in your post office savings account and by adding this money to the principal, you will get further interest. The maturity of this scheme is 5 years, but after 5 years it can be extended according to the new interest rate.
How much money you will get every month
Interest rate: 7.4% p.a.
Maximum investment from joint account: Rs 15 lakh
Annual interest: Rs 1,11,000
Monthly interest: Rs 9250
If there is a single account then
Interest rate: 7.4% p.a.
Maximum investment from joint account: Rs 9 lakh.
Annual interest: Rs 66,600.
Monthly interest: Rs 5550.
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