Who dont need money. For some good amount of money, people work hard. But wait, there is a now good news for you. Now you can easily earn money in every month with minimum work hard work. You can make money through post office scheme Small Savings Scheme Monthly Income Scheme (POMIS). With attractive interest rates, the post office monthly income scheme is a safe investment option that can become a source of regular income for anyone.
Interest rate 7.4 percent per annum
The current interest rate on post office monthly income account is 7.4 percent annually. In this, 9 lakh rupees can be deposited through a single account and a maximum of 15 lakh rupees through 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 plan, then there is a guarantee of 100 percent security in it. There is also the facility of opening a joint account with a single account as well as a spouse.
Who can open an account?
1. Single account in the name of Adult.
2. Joint Account (Maximum 3 Adults) (Joint A or Joint B).
3. can open his/her Guardian account in the name of the minor.
4. If there is a minor of 10 years then ininvestment.
Rules of Deposit in POMIS
1. To open this account, at least Rs 1000 investment is required, after which it can be deposited in multiples of Rs 1000.
2. Maximum deposit of Rs. 9 lakh in single account and maximum of Rs. 15 lakh in joint account.
3. Every holder in the joint account has an equal share in the investment.
How is the interest added to this scheme?
This small savings scheme is getting 7.4 percent annual interest. Whatever annual interest is incurred 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 monthly money, then it will remain in your post office savings account and by adding this money with 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 will come every month
Interest rate: 7.4% per annum
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% per annum
Maximum investment from joint account: Rs 9 lakh
Annual interest: Rs 66,600
Monthly interest: Rs 5550.