Post office monthly income scheme: Post Office Saving Scheme is considered to be the safest option for investment. Post offices are running saving schemes for people of all ages. In this post office scheme, investors can earn Rs 9250 every month. This scheme of post office works as regular income. 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 low risk monthly income scheme. 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, maximum 3 people can open an account together in a joint account. That is, husband and wife can invest together in it.
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. 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.
Charges apply for premature closure
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 or joint account can be opened by a maximum of 3 adults. In this, there will be an income of Rs 5,500 to Rs 9,250 every month.
