Post Office Monthly Saving Scheme: Today in this news we are going to tell you about such a scheme of Post Office in which the returns in Monthly Income Scheme are also excellent… To know the complete details related to this scheme, read the news. Read completely.
Post Office has many saving schemes for every age and class, which are very popular among the people. In this, along with the security of the money invested by you, you also get strong returns. One such scheme is the Post Office Monthly Income Scheme, which guarantees income to the investor every month
Interest is available at the rate of 7.4% –
The returns in this monthly income scheme of Post Office are also excellent. From July 1, 2023, the interest on investment has been increased to 7.4 percent. The most important thing about this scheme is that by investing in it, the tension of your income every month ends. The maturity period of this government scheme is 5 years and money cannot be withdrawn from it until one year after the account is opened. In this you can open an account with just Rs 1000.
You can invest up to Rs 9 lakh –
The government has also increased the investment limit for account holders investing under the Post Office Monthly Savings Scheme (POMIS). Earlier the investment limit for individual account holders was Rs 4.5 lakh, which has been increased to Rs 9 lakh. If we talk about joint account, then the maximum limit for it has been increased from earlier Rs 9 lakh to Rs 15 lakh. This increase in investment limit is effective from April 1, 2023. Once invested, you can arrange for fixed income every month under this scheme.
Investors are getting more benefits by increasing the investment limit in this scheme. As mentioned, you cannot close the account for one year after opening it. Whereas if you close the Post Office Monthly Income Scheme account before three years, then a charge of 2 percent is applied, whereas if you close the account after 3 years and before 5 years, a charge of 1 percent is applied. A charge of Rs.
This is the calculation of monthly income –
In this scheme of Post Office, income is guaranteed every month through lump sum investment and if you calculate the income every month, then if you invest Rs 5 lakh in it for five years. If so, then you will get an income of Rs 3,084 every month based on the interest rate of 7.4 percent. Whereas if we look at the maximum limit of individual account holder i.e. Rs 9 lakh, then the monthly income will be Rs 5,550. Apart from monthly, you can also take this interest income on quarterly, half yearly or yearly basis.
How to open an account in the nearest post office – It
is very easy to open an account under Monthly Income Scheme (MIS). For this you can visit your nearest post office and submit the application along with necessary documents to the post office. Applicants can collect the account opening form from the post office and submit it along with KYC form and PAN card. In case of joint account holders also KYC documents have to be submitted. Meanwhile, keep in mind that while filling the form at the time of opening the account, all the information should be entered correctly.
