Today we are going to tell you about a very great scheme of the post office. The name of this scheme of the post office is Monthly Income Scheme. By investing in this scheme, you do not have to face the dangers of any kind of market risks.

Your money is completely safe. You can invest in this scheme to get regular income. In the Monthly Income Scheme of the Post Office, you have to make a lump sum investment. After this, you get regular income on it for five years. You also get many great benefits in this scheme. In this episode, let us know in detail about the Monthly Income Scheme of the Post Office –

Post Office Monthly Income Scheme is a small savings scheme. In this scheme of post office, you can open your account both singly and jointly. If you are opening a single account in the Monthly Income Scheme of the post office, then you can invest a maximum of 9 lakh rupees in it. Whereas if you are opening a joint account in this scheme, then you can invest a maximum of 15 lakh rupees.

At present, you are getting an interest rate of 7.4 percent on investing in this scheme. If you invest Rs 9 lakh in lump sum in this scheme, you will get Rs 5,550 as interest every month. If you open a joint account in this scheme and invest a lump sum of Rs 15 lakh, you will get Rs 9,250 as interest every month. In this case, you will get an interest of Rs 1,11,000 annually.

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PPF: In terms of investment, there is no dearth of options these days. To strengthen their portfolio, investors like to invest in various types of schemes. If you want to invest in a scheme with guaranteed returns and want to invest good money, then you can choose the option of Public Provident Fund (PPF). PPF is a government guaranteed scheme. In this one has to invest for a long time.

The scheme matures in 15 years. If you want to take advantage of this even further, you can extend your account for 5 years. Rs 500 to Rs 1.5 lakh can be deposited annually in PPF. At present 7.1 percent interest is being given on it. In this scheme of EEE category, interest can also be saved in three ways. To invest in this, you can open an account in any post office or government bank. If you invest just Rs 1,000 per month in this scheme, you can add more than Rs 8 lakh in a few years. Know how-

Know how more than 8 lakh will join

If you invest Rs 1,000 every month in this scheme, you will invest Rs 12,000 in a year. The scheme will mature after 15 years, but you have to extend it twice in blocks of 5 years each and continue the investment continuously for 25 years. If you invest Rs 1,000 every month for 25 years, you will invest a total of Rs 3,00,000. But according to 7.1 percent interest, you will take Rs 5,24,641 only from interest and your maturity amount will become Rs 8,24,641.

Tax will be saved in three ways
PPF is an EEE category scheme, so you will get 3 types of tax exemption in this scheme. EEE means Exempt Exempt Exempt. In the schemes falling in this category, there is no tax on the amount deposited annually, apart from this, the interest earned every year is not taxed and the entire amount received at the time of maturity is also tax free i.e. investment, interest/return and Tax is saved in all three maturities.

Also know the rule of extension
PPF account extension is done in blocks of 5 years. In case of PPF extension, the investor has two types of options – first, account extension with contribution and second, account extension without investment. You have to get extension with contribution. For this, you will have to submit an application to the bank or post office where you have an account. Keep in mind that you will have to give this application before completion of 1 year from the date of maturity and a form will have to be filled for extension. The form will be submitted in the same post office/bank branch where the PPF account has been opened. If you are not able to submit this form on time, you will not be able to contribute to your account.

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On completion of maturity, they get strong interest as well as returns, so people trust these schemes. Let us tell you that you also get the facility of life insurance in the post office. Today we are going to tell you about such a scheme, by which you can double your money.

Money can be doubled

The name of this scheme is Postal Life Insurance. You can double the money by investing in this scheme and it is the oldest government insurance scheme. Let us tell you how you can apply in it –

Facility of up to Rs 50 lakh

In this scheme, the policyholder gets the facility of up to Rs 50 lakh. People in the age group of 19 years to 55 years can invest in this. You also get bonus in this. Along with this, the minimum sum assured of Rs 20,000 and maximum Rs 50 lakh is available. If the policyholder dies in the middle of this scheme, then all the money is given to the nominee.

Loan facility is available

In this, if the policyholder keeps the policy continuously for 4 years, then the loan facility is also given to the policyholder. If you want to discontinue the policy then you can get it done after 3 years, but if you discontinue before 5 years then you will not get the benefit of bonus.

Don’t know who can take advantage?

The benefit of this policy is available at the age of 80 years because you get the facility of assured amount insurance only at the age of 80 years.

Know how to apply? You can apply for life insurance by visiting the link ( https://pli.indiapost.gov.in ). If in this seed, after the death of the policyholder, all the money will be given to the nominee.

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