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Post Office: A joint account with your wife can benefit more; see the calculation – Times Bull

Post Office: A joint account with your wife can benefit more; see the calculation

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Post Office Scheme

Post Office: If you are looking to alleviate concerns about retirement and secure a steady monthly income, we have an investment opportunity to share with you today. This government-backed scheme allows you to invest your savings and receive regular monthly payments.

Duration and interest rate of Post Office Monthly Income Scheme

The scheme has a duration of five years, and the interest rates for post office schemes are evaluated quarterly. For the third quarter of the current financial year, from October to December, the Post Office Monthly Income Scheme offers an annual interest rate of 7.4%.

Monthly pension of Rs 9,250

We would like to introduce you to an excellent investment option available through the post office, which you can consider with your spouse as you celebrate the New Year. This scheme can provide you with a monthly pension of Rs 9,250. Since India’s independence, significant advancements have been made in our postal system, focusing on the needs of the general public. This development has positioned the Indian Post as one of the largest and most efficient postal systems globally.

 

If you wish to generate a consistent income by investing your savings wisely, this is a viable option. The Post Office Monthly Income Scheme is regarded as a secure investment, free from the risks associated with market fluctuations. By participating in this scheme, you can enjoy both security and attractive returns.

Let us delve deeper into the details. Despite various economic challenges, no other institution has garnered as much public trust. If you invest Rs 9 lakh in a single account under the Post Office Monthly Income Scheme, you will receive a monthly pension of Rs 5,550. Conversely, if you invest Rs 15 lakh in a joint account with your spouse, you will earn Rs 9,250 in monthly interest, totaling an annual interest of Rs 1,11,000. This post office scheme includes a lock-in period of five years.

Disclaimer : For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.

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