Post office special scheme: Post Office Schemes are easily available to people living in every corner of the country, village, town, district etc. These schemes are run by the government in which their money remains safe and they get attractive returns.
Post Office Monthly Income Scheme: Post Office Schemes are easily available to people living in every corner of the country, village, town, district etc. These schemes are run by the government in which their money remains safe and they get attractive returns. If you are worried about not having a stable income after retirement, then the post office gives you a solution to this also. You can earn monthly income by investing in post office schemes. This account can be opened with your spouse i.e. husband and wife together. That is, both of them can open a joint account. The name of this scheme of Post Office is known as Post Office Monthly Income Scheme.
In this scheme you can get monthly money by investing lump sum. You will get interest on your deposited money and you will get this interest every month. Under this scheme you can take a monthly pension of Rs 9,250. If you choose Single Investment, you can invest a maximum of Rs 9 lakh. If you want to open a joint account with your spouse, you can invest up to Rs 15 lakh. Currently, this government scheme is offering interest at the rate of 7.4 percent.
If you open a joint venture with your wife, you will get annual interest of Rs 1,11,000 on an investment of Rs 15 lakh. Every month you will get a pension of Rs 9,250, this is your interest money only. Your investment remains safe in the post office scheme. You will get your money back after maturity. If you want, you can extend the money in the scheme for 5 years. This account can also be opened by 3 people together.
Post Office Monthly Scheme matures in 5 years. It can be closed prematurely. Money can be withdrawn after one year of deposit. If you withdraw money between one and three years, 2 percent is deducted. On withdrawal of money after three years, one percent is deducted.
