Post office programs have always been crucial in ensuring the future of customers. Post office programs are very well-liked for yielding high returns with minimal investment.
An example of this is the Post Office Monthly Income Scheme (POMIS). By making a single investment, you have the potential to generate over Rs 9000 monthly through this scheme. Let’s learn all the in-depth details of this program in the report for today.
Advantages of POMIS Scheme
The POMIS scheme offers a range of features and benefits.
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The duration of this postal plan is 5 years. In other words, after committing to this plan, clients will receive a monthly income for the following five years.
Rate of interest
During the third quarter of the ongoing financial year (October-December), the interest rate stands at 7.4 percent per year, significantly exceeding rates offered by other programs.
Amount of money to invest
The least amount of money that can be invested in this plan is just 1000 rupees. In case of a single account, the highest investment permitted is Rs 9 lakh, while in a joint account, it is up to Rs 15 lakh.
Account for income received every month
By putting Rs 9 lakh into this plan, you will receive a monthly income of Rs 5,550.
By investing Rs 15 lakh, you can achieve a monthly income of Rs 9,250.
Rules for investing and opening accounts.
This post office program offers the option to open either an individual account or a joint account.
Up to three individuals can be involved in a shared account.
However, deposits for the investment must be made in increments of 1000 rupees.
Since the government is backing this project, the investment’s security is fully ensured.
Facility for Premature Withdrawal
In case there is a requirement to withdraw money before five years are completed, this scheme allows for that benefit.
