Post office monthly income scheme: Post Office Saving Scheme is considered to be the safest option for investment. Post office is running savings scheme for people of all ages and categories.
Post office monthly income scheme: Post Office Saving Scheme is considered to be the safest option for investment. Post Office is running saving schemes for people of all ages and categories. There is one such scheme of the post office in which both husband and wife can invest. This scheme of post office can make them rich in short time. Under the Post Office Monthly Income Scheme, husband and wife can earn every month. Let us know what this scheme is and its benefits.
What is Post Office Monthly Income Scheme (POMIS)
Post Office Monthly Income Scheme is a government saving scheme. Post Office is getting 7.4 percent annual interest on this scheme. This is a very famous scheme among the investors. It is a low-risk savings scheme in which investors get regular monthly income. A fixed interest is available in this scheme. In this scheme of post office, both single account and joint accounts can be opened. In this, a maximum of 3 people can open an account simultaneously in a joint account. That is, husband and wife can invest in it together.
Special features of Post Office MIS account
You can invest in it in multiples of minimum Rs 1000. You can invest a maximum of Rs 9 lakh in a single account and up to Rs 15 lakh in a joint account.
Monthly income will be this much
If you invest Rs 9 lakh, you will get Rs 5,500 every month. If you invest Rs 15 lakh under joint account, you will get Rs 9,250.
A guardian can also open an account on behalf of a minor or a person of unsound mind.
The account can be prematurely closed after one year. However, then 2 percent charge will be deducted on it and on closure after 3 years, 1 percent charge will be deducted.
Who can open an account in Post Office Monthly Income Scheme?
A single adult
Joint account Maximum 3 adults can open account
Parents on behalf of minor/person of unsound mind
Minor above 10 years in his own name.
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