Post Office’s superhit scheme, you will get Rs 9,250 every month…
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Sarkari Yojana Post Office Monthly Scheme: Post Office Monthly Income Scheme (POMIS) is a good investment option for those who want to earn money every month. This government scheme is completely safe and offers 7.4% annual interest.
Under this scheme, a maximum of Rs 1 lakh can be invested through a single account and up to Rs 15 lakh through a joint account.
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Who can open this account?
- Adults aged 18 years or above…
- Joint account (up to 3 adults).
Guardian in the name of a minor…
- If the minor has attained the age of 10 years, he can open an account in his own name.
Investment rules - An account can be opened with a minimum of Rs. 1000.
- A maximum of Rs. 1 lakh can be invested in a single account and up to Rs. 15 lakh in a joint account.
In the joint account, each account holder will have an equal share…
How is interest earned?
- This scheme offers an annual interest rate of 7.4%.
- The interest is directly deposited in the customer’s account every month.
- If the customer does not withdraw the interest amount, it is added to the post office savings account and interest is also earned on it.
- The maturity period of the scheme is 5 years, after which it can be extended with a new interest rate.
Example of monthly income…
- Joint account:
- Investment: Rs 15 lakh.
- Annual interest: Rs 1,11,000.
- Monthly income: Rs 9250.
- Single account:
Investment: Rs 9 lakh. - Annual interest: Rs 66,600.
- Monthly income: Rs 5550.
Benefits of the scheme…
- This scheme gives higher returns than bank FD.
- After 5 years it can be extended at the new interest rate.
- If the investor does not want to continue this scheme, then after 5 years the entire deposit is returned.
- Rules for premature closure of account
- The account cannot be closed before one year.
- On closing the account between 1 to 3 years, 2% of the amount will be deducted.
- On closing the account between 3 to 5 years, 1% of the amount will be deducted.
- Post Office Monthly Income Scheme (POMIS) is a safe and reliable option, which guarantees regular income. It is specially designed for those who want to earn a fixed income every month by investing with low risk.
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