Post Office’s superhit scheme, you will get Rs 9,250 every month…

Jyoti — Thu, 26 Dec 2024 15:28:24 +0000

Under this scheme, a maximum of Rs 1 lakh can be invested through a single account and up to Rs 15 lakh through a joint account.

If the minor has attained the age of 10 years, he can open an account in his own name.
Investment rules
An account can be opened with a minimum of Rs. 1000.
A maximum of Rs. 1 lakh can be invested in a single account and up to Rs. 15 lakh in a joint account.

This scheme offers an annual interest rate of 7.4%.
The interest is directly deposited in the customer’s account every month.
If the customer does not withdraw the interest amount, it is added to the post office savings account and interest is also earned on it.
The maturity period of the scheme is 5 years, after which it can be extended with a new interest rate.

Example of monthly income…

This scheme gives higher returns than bank FD.
After 5 years it can be extended at the new interest rate.
If the investor does not want to continue this scheme, then after 5 years the entire deposit is returned.
Rules for premature closure of account
The account cannot be closed before one year.
On closing the account between 1 to 3 years, 2% of the amount will be deducted.
On closing the account between 3 to 5 years, 1% of the amount will be deducted.
Post Office Monthly Income Scheme (POMIS) is a safe and reliable option, which guarantees regular income. It is specially designed for those who want to earn a fixed income every month by investing with low risk.

Post Office Monthly Scheme - Rightsofemployees.com