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Rs 36,996 Guaranteed income from this Post Office Scheme, Know Where And How To Invest – Times Bull

Rs 36,996 Guaranteed income from this Post Office Scheme, Know Where And How To Invest

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Post Office Scheme

Post Office Monthly Income Scheme (POMIS): Do you think about investing, but in a safe place where security and return are guaranteed? Then your find may be over soon. In this article, we are talking about a scheme that gives 100% security with a guaranteed good return. Investment in the post office is still one of the places for investment for common people. Post Office Monthly Income Scheme (POMIS) at present, this scheme gets annual interest of 7.4 percent.

You can open an account by going to your nearest post office. To open an account, you have to attach a copy of the PAN card by filling the KYC form. If you open a joint account, you will also have to attach the PAN card of the other member.

Know first before invest

In this scheme, the person gets interest every month. As soon as the investor opens the account and the interest is added at the end of every month till the account matures. In this scheme, there is a revision in interest every quarter. The tenure of this scheme is 5 years. The investor cannot make any withdrawal from the account for 1 year after the account is opened. If the investor closes the account before 3 years, then an amount of 2% is deducted from the principal amount. There is a deduction of 1% on closing the account after 3 years.

In this scheme, a maximum of Rs 15 lakh and a minimum of Rs 1,000 can be invested in a single account.

Post Office Monthly Income Scheme Calculator

If you have invested Rs 5 lakh in the post office scheme, then you will get an interest income of Rs 3,083 every month at 7.4 percent interest. If you calculate this way, you will get an income of Rs 36,996 from interest in a year.

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