Post Office Scheme: Recently, investors prioritize placing their funds in a program that is both secure and provides consistent earnings. The Post Office offers a resolution for the issue concerning such individuals. The Post Office Monthly Income Scheme (MIS) is designed for individuals seeking regular monthly returns on their investments. This plan has been specifically crafted for retirees and individuals seeking a stable income.
Annual interest rate of 7.4 percent
Investing in the Post Office Monthly Income Scheme (POMIS Yojana 2024) offers you an annual interest rate of 7.4 percent. Under the plan, interest is paid monthly on the invested sum following a maturity period of five years. This interest is credited to your savings account. With its assistance, your monthly requirements are fulfilled. If you prefer not to withdraw your funds after the maturity period has ended, you can extend it for an additional five years.
You can invest as much as Rs 9 lakh
You can commence investing in an MIS scheme with a minimum investment of Rs 1000. In one account, you can invest as much as Rs 9 lakh. Nonetheless, in a joint account, the highest investment can reach Rs 15 lakh. The plan is beneficial for individuals wishing to secure their monthly earnings. The investor needs to be an Indian citizen. Individuals aged 10 years or older are eligible to invest in the scheme.
More important points to note down before investing
Nonetheless, to establish an account for a minor, it is required to designate an adult. The plan includes the option of having a nominee. If the account holder passes away, the deposited funds will be provided to the nominee. This plan is extremely secure and dependable for investors.
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