Post Office Scheme: In view of the rising inflation, the question of investing comes to everyone’s mind. There are many investment options around you. But if you are looking for such an investment in which your money is safe and you also get good returns. We are talking about Post Office Monthly Investment Scheme.
Post Office Monthly Income Scheme is th small saving scheme run by the Post Office. This scheme is for those investors who want a fixed income every month with safe investment. Fixed interest is given on the amount deposited in it, which you receive as a stable income every month. Let’s know the complete details of this special scheme….
Know what is POMIS scheme?
POMIS is known as Post Office Monthly Income Scheme. If we talk about the interest rate on it, then you can get the intrest of 7.4 percent by investing in it. This is a lump sum investment (MIS Calculator) scheme, after which you are given a fixed amount every month as income. People like to invest in this scheme of Indian Post Office because there is no risk of your money sinking in it. Investment amount
To invest in Monthly Income Scheme, the applicant should be an Indian resident. You can contact any post office to open an account, after that you can start investing with a minimum of Rs 1000.
And if we talk about maximum investment, then you can invest up to 9 lakhs in a single account and 15 lakhs in a joint account. You get this money back after 5 years of maturity, during this time you keep getting interest every month.
Guaranteed income will be Rs 66,600
If a citizen has deposited Rs 9 lakh in MIS account, then he will get 7.4 percent interest rate on it. And if the calculation is done according to this interest rate, then you will get an interest of Rs 66,600 in a year and every month you will get Rs 5,500 only from interest (MIS calculator). Similarly, in 5 years you will get a guaranteed income of Rs 3.33 lakh from interest only.
If you open a joint account in this scheme, then you can deposit Rs 15 lakh from this scheme. If you make a profit of Rs 27,750 every 3 months, you will get Rs 9250 as interest every month.
Documents required to open an account
For which you should have Aadhar card or passport or voter card or driving license for ID proof. With all these documents, you can go to the post office and open an account.