Everyone saves their life, but to find the best investment plan is always a problem. Everyone wants to invest their savings in a place where a thick fund is collected in the future, and regular income is arranged after retirement.
If you think the same, then Post Office Schemes are the best for you. Post Office Monthly Income Scheme is a good investment plan. Investing in it means you can get a regular income of Rs 9,000 every month.
Post Office Monthly Income Scheme is a great investment plan in which your money is safe. In this scheme, you get more interest than banks. In this scheme, you have to invest for 5 years, and you can open a single or joint account in this scheme.
Post Office Schemes Safer for Investment Plan
Post office saving schemes are considered very good for safe investment. There are plans for people of all ages here. From children to the elderly, you can benefit by investing in these schemes. Even in terms of interest, this scheme is equal to everyone.
Post Office Monthly Income Scheme (POMIS) is a great investment plan. After investing in this scheme, you will have a monthly fixed income. Your money will be secure when you invest in this scheme.
5-year investment for better returns in Post Office Monthly Income Scheme
In the post office monthly income scheme, your money is safe, and you also get more interest from the bank. If you invest for 5 years in this scheme, then it will prove to be a profitable deal for you. In the single account of this monthly savings scheme of the post office, you can invest a minimum of Rs 1,000 and a maximum of Rs 9 lakh.
The joint account maximum limit for investment is Rs 15 lakh. Both husband and wife can invest up to Rs 15 lakh in joint account. Three people can invest in a joint account.
How much return do you get in POMIS?
After retirement, if you want to arrange a fixed monthly income for yourself, you should start investing in this post office scheme. The government currently pays annual interest in this savings scheme at 7.4 percent.
Under the scheme, the interest of this investment is distributed in 12 months. After this, you get this amount every month. If you do not withdraw this money, it will be in your post office savings account. You will get interest on this money along with the principal.
How to get more than 9000 rupees every month
If you want a monthly income of more than Rs 9,000, you must invest Rs 15 lakh in a joint account. On this, you will get 7.4 % interest annually. The interest amount will be Rs 1.11 lakh, distributed equally over 12 months, then you will get Rs 9,250 every month.
If you start investing in a single account, you will get Rs 66,600 annually as 7.4% interest on the investment of Rs 9 lakh in this scheme, an income of Rs 5,550 every month.
Where and how does a POMIS account open?
Like the other Post Office saving schemes, you can open an account in the monthly income scheme. For this, you can open this account in your post office. To open its account, you have to fill out a form for a National Savings Monthly Income Account.
To open an account with this form, you must deposit the fixed amount by cash or check. A PAN Card and an Aadhaar card will be required to open the post office monthly income scheme account.