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Post Office Special Scheme: Open account in wife’s name under this scheme, earn ₹ 1,11,000 every year, know how

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Post Office Special Scheme: Open account in wife's name under this scheme, earn ₹ 1,11,000 every year, know how

Sometimes you have enough lump sum money, but you do not have the arrangement for regular income. For such people, a scheme of the post office can be very helpful. This scheme with No Risk Guaranteed Income can help you earn every month. But if you use a little bit of brain and include your wife in it, then earning ₹ 1,11,000 every year is guaranteed.

Know about this scheme

We are talking about the Post Office Monthly Income Scheme. This scheme is going to generate income every month. In this scheme, a lump sum amount is deposited for 5 years, on which interest is earned. The scheme provides the facility of opening both single and joint accounts. In this scheme, with the help of your wife, you can earn Rs 5,55,000 sitting at home in 5 years.

This is how you will earn ₹1,11,000 annually

In Post Office MIS, you can deposit up to Rs 9 lakh in a single account and Rs 15 lakh in a joint account. Currently, this scheme offers an interest rate of 7.4 percent. In such a situation, if you open an account with your wife and deposit Rs 15,00,000, you can earn Rs 1,11,000 annually and Rs 5,55,000 in 5 years.

Understand how with an example?

Currently, the Post Office Monthly Savings Scheme is giving an interest rate of 7.4%. If you deposit 15 lakh rupees in it along with your wife, then you will earn 9,250 rupees every month at the rate of 7.4% interest. 9,250 x 12 = 1,11,000 rupees guaranteed income. 1,11,000 x 5 = 5,55,000 In this way, both of you will earn 5,55,000 rupees in 5 years from interest alone.

How much will you earn in a single account?

If you open this account as a single account, you can deposit a maximum of 9 lakh rupees. In this case, you will earn Rs 5,550 every month from interest. In this way, you can get 5,550 x 12 = 66,600 rupees as interest in a year. 66,600 x 5 = Rs 3,33,000, in this way, you can earn a total of Rs 3,33,000 through interest in 5 years through a single account.

The deposit amount is returned after 5 years

The interest earned on the deposit made in the account is paid every month in the post office savings account. Meanwhile, the deposited amount remains completely safe. After 5 years, you can withdraw your deposited amount. If you want to take advantage of the scheme further, you can open a new account after maturity.

Who can open an account?

Any citizen of the country can open an account in the Post Office Monthly Income Scheme. An account can also be opened in the name of a child. If the child is less than 10 years old, his parents or legal guardians can open an account in his name. When the child is 10 years old, he can also get the right to operate the account himself. For MIS account, you must have a savings account in the post office. It is mandatory to provide Aadhaar card and PAN card for ID proof.


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