The maturity of this scheme is 5 years and single or joint account can be opened in it. For your information, let us tell you that the interest available in this scheme has been increased from October. Now if you invest in this scheme, you will be offered interest at the rate of 7.4%. Note, every quarter the government changes the interest received from POMIS.

Know this important thing before investing in POMIS

If you are planning to open a single account under the post office scheme, then only up to Rs 9 lakh can be deposited. At the same time, if both husband and wife together open a joint account, then in this case only up to Rs 15 lakh is allowed to be deposited.

If husband and wife open a joint account then these will be the rules

In POMIS, 2 or 3 people can open a joint account. All joint account holders get equal share. Know that if someone wants a single account instead of a joint account, then it is also possible to do so.

Talking about withdrawal, if you withdraw money within 1-3 years, the amount will be returned to you after deducting 2% interest. At the same time, if you want to withdraw money after 3 years, then the money will be returned to you after deducting 1% of the deposit amount.

You will get this much interest on investment of Rs 5 lakh

Suppose if you invest ₹ 5,00,000 in this scheme. In 5 years you will get interest at the rate of 7.4% per annum. In this case, you will get Rs 3,084 from interest every month. At the same time, your total interest will be Rs 1,85,000.

This means that if you invest Rs 5 lakh for 5 years, you will get only interest of Rs 1,85,000 on POMIS account maturity. At the same time, more than Rs 3,000 will continue to come into the account every month.

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At present, you are getting the benefit of interest at the rate of 5.8 percent on the 5-year RD of the post office. You have to invest at least Rs 100 in this scheme. In this, you can also open a single account. Along with this, 3 adults can also get a joint account opened together.

You have to deposit money in multiples of 10 in this scheme. You have to deposit money in it on time. If you delay in giving its installment or you forget, then you also have to pay late fees.

If you deposit Rs 5000 every month in this scheme and you get the benefit of interest at the rate of 5.8 per cent on the scheme. If you invest continuously for 5 years then you will get 3 lakh 48 thousand 480 rupees.

In this, your deposit amount will be Rs 3 lakh. At the same time, you will get a return of about 16 percent on this. According to the rules, you can also extend this scheme for 5 years.

How to get 8 lakh

If you extend this scheme for 5 years, then your RD will be for 10 years. In this you will get 8 lakh 13 thousand 232 rupees on maturity. In this, the total deposit amount will be Rs 6 lakh and on top of that you will get the benefit of interest.

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Investment in the post office scheme is 100% safe. It is not affected by market fluctuations.

POMIS: 9 lakh deposit in joint account

Under this scheme of the post office, a maximum deposit of Rs 4.5 lakh can be deposited in a single account, while the maximum deposit limit is Rs 9 lakh in a joint account. At present, the scheme is getting an annual interest of 6.6 percent. If you wish, your total principal amount will be returned after the maturity period of 5 years. At the same time, it can be extended further by 5–5 years. After every 5 years, there will be an option to take your principal amount or extend the scheme.

Husband and wife will have monthly income of Rs 4,950

Suppose, husband and wife have opened a joint account and deposited Rs 9 lakh in it. The interest on this is Rs 59,400 per annum at the rate of 6.6 per cent. If you divide it in 12 months, you will get Rs 4,950 every month. According to the rules, two or three people can also open a joint account in MIS.

The income received in exchange for this account is given equally to every member. You can convert a joint account to a single account at any time. Single account can also be converted into joint account. To make any changes in the account, a joint application has to be given by all the account members.

The post office’s monthly investment scheme can be opened by a citizen of any country, whether it is an adult or a minor. You can also open an account in the name of your child. If the child is less than 10 years of age, then the account can be opened in his name on behalf of his parent or legal guardian. When the child attains the age of 10 years, he himself can also get the right to operate the account.

The post Post Office Scheme: Good News! Husband and wife should open this account, will get 5 thousand rupees every month first appeared on Rightsofemployees.com.

If you want to invest money in a government scheme for a long time and also want to avoid risk, then the Kisan Vikas Patra scheme of the post office can be a good option for you. Investing in Kisan Vikas Patra (KVP) of Post Office gives good returns. This is a double money scheme from the Government of India where you get an interest rate of 6.9 percent per annum and it doubles in 124 months (10 years and 4 months).

This scheme is available through most of the post offices in India.

What is Kisan Vikas Patra Scheme?

Kisan Vikas Patra (KVP) is a savings scheme provided by the Government of India. The KVP scheme offers substantial returns on completion of its maturity period through high interest rates. This risk free investment scheme of the Government of India encourages its citizens to make long term savings.

Who can invest?

Any citizen of 18 years of age or above can invest in Kisan Vikas Patra. The minimum investment amount in this is Rs 1000 and no limit has been fixed for the maximum investment. Any adult account can be opened on behalf of a minor below the age of 10 years in Kisan Vikas Patra. As soon as the minor attains the age of 10 years, an account is created in his name. Not only this, three people of the age of 18 years or more can also open a joint account.

tax to be paid on return If one returns this scheme within one year of purchase, then he does not get the benefit of any kind of interest. This post office scheme does not come under the Income Tax Act 80C. Hence, tax has to be paid on the return earned on the investment amount. However, TDS is not deducted in this scheme.

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If you are planning to invest with less money, then here a good option is being talked about for you. You can opt for Post Office Fixed Deposit/Fixed Deposit Scheme for future planning.

You will never suffer any loss by investing money in this scheme, because your money is safe here. Also, investing in it is a very easy option. Let us tell you, the facility of FD / TD is not only in the bank. You can enjoy it by starting it at the post office. Your money invested in the post office is always safe and also gives guaranteed returns.

Fixed deposits of 1 to 5 years can be opened in the post office. This is a small savings scheme. The bank has not changed its interest rates from January to March 2022 quarter. This means that the interest which was available in the October-December 2021 quarter, will continue to be available now

Investment of Rs 1 lakh, you will get Rs 1, 39, 407

In post office term deposits, you get 6.7% per annum for 5 years. This means that if a person opens an account by depositing Rs 1 lakh in a term deposit with maturity of 5 years, then after 5 years he will get Rs 1,39,407 at the rate of TD. At the same time, the interest rate on one year, 2 year and 3 year term deposits is 5.5% per annum.

Who can open account?

In this scheme, any Indian can open a single or joint account. Those whose age is more than 10 years or they are mentally weak, they can also open an account in this. To open an account, you can put any amount in it starting from Rs 1000. Apart from this, investment in post office TD for 5 years is tax exempt under section 80C of the Income Tax Act.

premature termination rules

You can also discontinue this plan after the completion of 6 months. On the other hand, if you close the TD 6 months after the completion of 12 months of the account, then the interest rate of the Post Office Savings Scheme will be applicable and not the fixed deposit.

What facilities are available at Post Office TD?

• On this you will get nomination service
• Facility to transfer account from post office to another
• Post Office One, TD Account Multiple
• Facility to convert Single Account to Joint or Joint Account to Single
  Account Extension Facility
• Online account opening facility through intra-operable netbanking/mobile banking

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