Everyone saving some of their earnings and wants to invest in a place where his money is safe and returns also get strong. But after retirement, the problem of regular income is the biggest and if there is no proper pension in the job, then B can face financial problems. In such a situation, it is necessary to do the planning after retirement in advance. For this, the post office monthly income scheme can be very useful for you, which gives you a chance to earn a fixed amount every month. Let’s know about its benefits in detail …
MIS account can be opened with Rs 1000
Post Office is being operated in SAVING Schemes for all ages and every class, in which the return is not only strong, but the government itself guarantees security on investment. That is, it becomes completely tension free investment option. Talk about, about the post office monthly income scheme that makes a fixed income post office every month, then you can open your account with just Rs 1000.
Rules related to opening account
- Any person over 18 years of age
- Joint account (maximum three adults)
- As a minor and a guardian of a person who does not have a mental condition
- Account open with minimum investment of Rs 1000
7.4% Dhansu Interest on Investment
This scheme of Post Office is very popular about its benefits and the interest received in it is also strong. Yes, the government is offering interest at the rate of 7.4 percent on the investment made in Pomis. This interest is being given from 1 April 2023. The maturity period of this government scheme is 5 years and money cannot be withdrawn from it for one year of opening the account. The most special thing about this scheme is that by investing in it, your tension of income ends every month. In this, investors can open a single and joint account.
Rule of deposit and interest payment
- You can deposit a maximum of Rs 9 lakh in a single account.
- Maximum Rs 15 lakh can be deposited in a joint account.
- All holders should have an equal share in investment in joint account.
- A month after the account opens, interest starts paying interest till maturity.
- No additional interest if not withdrawing the interest received every month.
Once investment, then guaranteed income every month
Post Office Monthly Saving Scheme (POMIS) is actually a single investment scheme and once invested, you can arrange guaranteed income for yourself every month under this scheme. The account can be closed by submitting an application with the passbook in the concerned post office after 5 years of opening the account. The account can be closed after the death of an account holder before maturity and the deposit amount can be returned to the nominee or successor of the account holder. Interest will be given till the refund returns.
Calculation of Rs 5500 in a month
Now let’s talk that by investing a lump sum in this scheme of Post Office, how can investors make a monthly income of Rs 5500 only from interest every month. Its calculation is very easy, if single account holders invest the maximum amount fixed in their account i.e. Rs 9 lakh, then they will get an interest of Rs 5500 every month according to the interest of 7.4% in this scheme. At the same time, the month will be Rs 9,250 through the maximum investment of Rs 15 lakh made in the joint account.
The account opens easily
Investment in this scheme of investment post office can also be charged according to its own quarter, half or annual basis. Talk about the process of opening an account in this government scheme, then you can go to your nearest post office and apply with the necessary documents. For the account opening from Post Office, you can submit the form with KYC form and PAN card.
Loss on closure of account before maturity
If the account holder closes it within one to three years of opening an account in this scheme, then it can prove to be a loss deal, in fact, in such a situation, according to the rule, the balance will be returned to you by deducting the equal amount of the principal according to the rule and if the account is closed between three to five years, then the remaining amount will be returned to it.