Post Office Scheme: There are many post office schemes running in the country. In which people are earning good profits by investing. If you also want to invest in the post office scheme, then today we will tell you about such a scheme in which you will get excellent returns if you invest.
New Delhi: Post office has many savings schemes for every age and class, which are quite popular among the people. In this, along with the security of the money invested by you, you also get strong returns. One such scheme is the Post Office Monthly Income Scheme, which guarantees income to the investor every month.
Interest is available at the rate of 7.4%
The returns in this monthly income scheme of the post office are also excellent. From July 1, 2023, interest on investment has been increased to 7.4 percent. The most important thing about this scheme is that by investing in it, the tension of your monthly income goes away.
The maturity period of this government scheme is 5 years and money cannot be withdrawn from it until one year after the account is opened. In this you can open an account with just Rs 1000.
You can invest up to Rs 9 lakh
The government has also increased the investment limit for account holders investing under the Post Office Monthly Savings Scheme (POMIS). Earlier the investment limit for individual account holders was Rs 4.5 lakh, which has been increased to Rs 9 lakh.
If we talk about joint account, then the maximum limit for it has been increased from earlier Rs 9 lakh to Rs 15 lakh. This increase in investment limit is effective from April 1, 2023. Once you invest, you can arrange for fixed income every month under this scheme.
Investors are getting more benefits by increasing the investment limit in this scheme. As mentioned, you cannot close the account for one year after opening it.
Whereas if you close the Post Office Monthly Income Scheme account before three years, then a charge of 2 percent is levied, whereas if you close the account after 3 years and before 5 years, then a charge of 1 percent is levied. Fee of Rs.
This is the calculation of monthly income
In this post office scheme, lump sum investment guarantees income every month and if you calculate the income every month, then if you invest Rs 5 lakh in it for five years, you will get a rate of 7.4 percent.
According to the interest received from this, there will be an income of Rs 3,084 every month. Whereas if we look at the maximum limit of individual account holder i.e. Rs 9 lakh, then the monthly income will be Rs 5,550. Apart from monthly, you can also take this interest income on quarterly, half yearly or yearly basis.
How to open an account in the nearest post office
Opening an account under Monthly Income Scheme (MIS) is very easy. For this, you can go to your nearest post office and submit the application form along with the necessary documents.
Applicants can obtain the account opening form from the post office and submit it along with KYC form and PAN card. In case of joint account holders also KYC documents will have to be submitted. Meanwhile, keep in mind that while filling the form for opening an account, enter all the information correctly.
