New Delhi: Post Office Small Saving Scheme: Post Office schemes are very useful and safe to invest in today’s era. By investing in these, you can make a fat fund without any risk.
Not only this, many benefits are also available by investing in post office schemes. For example, they get the benefit of tax exemption and loan. In a way, big benefits can be availed by investing in post office schemes.
One such scheme of the Post Office is the Monthly Income Scheme. This is a small savings scheme. This is a safe investment scheme of the post office and one can earn a lot in a month by depositing money in it. Explain that in this scheme, an account can be opened by depositing only Rs 1000. You can open the account of Monthly Income Scheme by visiting any nearest bank branch.
Will earn this much every month
Suppose you opened an account under the Monthly Income Scheme and deposited Rs 4.5 lakh in lump sum. Accordingly, you will get Rs 29,700 annually. That is, you will get an amount of Rs 2475 every month. However, this amount will be available after the maturity period of 5 years. At the same time, annual interest is available at the rate of 6.6 percent per annum. By the way, for information, let us tell you that you can open a joint account under the Monthly Income Scheme and take advantage.
These conditions have to be fulfilled
There are also some conditions under this scheme, which are necessary to be followed. Without these you cannot open an account in this scheme. Like in this any person can take advantage by opening an account after completing 18 years of age. In this, a hefty amount is received along with interest on maturity. However, if you withdraw the money only after 1 year, then you will not get this amount. On the other hand, if you withdraw your money in the middle of 5 years, then you will be returned the money by deducting 1% of the total deposited principal amount.
These documents are necessary
You can take advantage of this scheme by visiting any branch of the post office. If you want to open an account under Monthly Income Scheme, then you must have Aadhaar card, PAN card, income certificate, residence certificate and other documents.
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