As an investor, we want to invest in a place where the risk is least and returns are the best. Post office scheme is a better option for us in this respect. Where there is a high return with risk. Through the monthly income plan of the post office, investors can get better returns every month.
Post Office Monthly Income Plan
The Post Office Monthly Income Plan is a scheme where the investor can get returns every month by investing. Suppose if you have deposited Rs 9 lakh under this scheme, then you will get Rs 4,950 every month. At present, interest of Rs. 59,400 is being generated on this scheme at the rate of 6.6%. The most important thing about this scheme is that the interest keeps increasing every year.
Money can be withdrawn every month
Under this scheme you can withdraw monthly income of Rs 4,950 every month. Whatever money you withdraw, due to the interest amount, it does not affect the original money. He is completely safe. The maturity period of this scheme is 5 years. But it can be promoted further.
Under the Post Monthly Scheme, there is an option to open both joint and single accounts. If a person opens a joint account, then a member will have to spend only 4.5 lakh rupees. But if you want to open a joint account, then 9 lakh rupees will have to be deposited by a single person.
What are the rules
There are also some rules related to this scheme, such as an account can consist of only 3 people. Account opening age is above 18 years, parents of children below 10 years will be able to open an account in their own name.
