Are you an investor who wants regular income? If yes, then the Post Office Monthly Income Scheme (POMIS) can be a great option for you. By investing in this scheme, you can get a fixed amount of income every month.
Benefits of the scheme
Regular income: By investing in this scheme, you get a fixed amount of income every month.
Safe investment: Post office schemes are completely safe.
Flexibility: You can invest in this scheme from a minimum of ₹ 1,000 to a maximum of ₹ 9 lakh.
Maximum benefit: You get a high interest rate of 7.4% by investing in this scheme.
How to Invest
To invest in the Post Office Monthly Income Scheme, you can visit your nearest post office. You have to submit the required documents along with the application form, KYC form, and PAN card.
Investment limit
The maximum investment limit for a single account holder is ₹ 9 lakh.
The maximum investment limit for joint account holders is ₹ 15 lakh.
Maturity and Withdrawal
The maturity period of the amazing scheme is 5 years.
You cannot withdraw your investment within one year of opening the account.
If you close the account before 3 years, you will have to pay a fee of 2%.
If you close the account between 3 to 5 years, you will have to pay a fee of 1%.
Calculation of Monthly Income
If you invest ₹5 lakh for 5 years, you will get an income of ₹3,084 every month. If you invest the maximum investment limit of ₹9 lakh, you will get an income of ₹5,550 every month.
Important Information
To invest in this scheme, you have to invest in one go.
The maturity period of the amazing scheme is 5 years.
If you close the account within one year of opening the account, you will have to pay a fee of 2%.
If you close the account between 3 to 5 years, you will have to pay a fee of 1%.
Invest Now
Post Office Monthly Income Scheme is a safe and profitable investment option. If you want a regular income, invest in this scheme.