The central government has introduced additional benefits to the Post Office Monthly Income Scheme (POMIS) for all post office customers. In this scheme, you can earn Rs 9000 to Rs 15000 per month. Learn how to invest in this scheme, the required documents, interest rates, and rules.
About POMIS – Post Office Monthly Income Scheme
The central government has launched various innovative schemes to provide financial assistance to the people of the country. The post office, an approved financial institution, offers the safest and most trusted investment options. Today, many individuals prefer investing in fixed deposit schemes rather than savings accounts. Safety is a critical factor when investing money, and the post office is considered a secure option in this regard. The Post Office Monthly Income Scheme (POMIS) is one of the several schemes that offer profitable returns for a wide range of investors.
Post Office Monthly Income Scheme Calculator
- Tenure: 5 years
- Interest Rate: 7.4%
- Maximum Investment for Individual Accounts: ₹9 lakhs
- Maximum Investment for Joint Accounts: ₹15 lakhs
- Minimum Investment: ₹1,000
Monthly Returns from Post Office MIS
- Individual Account with ₹9 Lakhs Investment: Monthly return of ₹5,550.
- Joint Account with ₹15 Lakhs Investment: Monthly return of ₹9,250.
Premature Withdrawal
In the Post Office MIS scheme, if you wish to withdraw money before the maturity period (within one year), you may do so after one year with a penalty. For example, if you invest ₹9 lakhs in this scheme, you will earn ₹1,11,000 as interest.
Benefits of the Post Office Monthly Income Scheme
- The Post Office is a government-approved financial institution, so investing in this scheme is secure.
- The scheme offers profitable, stable, and regular monthly returns.
- The application process is simple, and you can easily invest in this scheme at your nearest post office.
How to Apply for the Post Office Monthly Income Scheme
- Visit your nearest Post Office.
- Bring your necessary documents such as PAN card, Aadhaar card, and address proof.
- Fill out the application form after reviewing the scheme’s terms and conditions.
- Open the account by depositing the initial investment.
For guaranteed and regular monthly returns, invest in the Post Office Monthly Income Scheme. This is an ideal scheme for securing a steady income with minimal hassle, so you can confidently invest and reap the benefits.
Disclaimer: The information provided about the Post Office Monthly Income Scheme (POMIS) is for general informational purposes only. Times Bull is not responsible for any financial investments made, as it is entirely your responsibility. Please consult a financial advisor for better results.