Great scheme of Post Office: You will get monthly income of Rs 20,000 by depositing just Rs 3 lakh, know how
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Post Office Scheme: If you are looking for an option to earn income with monthly guarantee without any risk, then you can invest in Post Office Monthly Income Scheme.
By depositing money together in this scheme, you get monthly guaranteed income. In this your money remains completely safe. Investment in MIS account has to be made only once. Its maturity is in 5 years. This means you get guaranteed monthly income after 5 years. This account can be opened in any branch of this post office scheme with a minimum of Rs 1,000.
Deposit Rs 3 lakh and get Rs 19,800 annually
According to MIS calculator, any person can open a single account by depositing Rs 3 lakh together. And after maturity, its price will be around Rs 20 thousand for the next 5 years. You will get Rs 1,650 every month. In this way you will get a total interest of Rs 99 thousand in 5 years. Post Office MIS still gives annual interest at the rate of 6.6 percent.
According to the Post Office, you can open an account in the Post Office Monthly Income Scheme by investing at least Rs 1,000. In this, both single and joint accounts can be opened. You can invest a minimum of Rs 4.5 lakh in a single account and up to Rs 9 lakh in a joint account. In this scheme you get interest every month. Any citizen of the country can invest in this scheme.
How much is charged for premature account?
According to the post office website, you can invest in Monthly Income Saving Scheme for 5 years. This scheme provides the facility of premature delivery. That means you can withdraw money after 1 year from the date of deposit. According to the rules, if money is withdrawn within 1 to 3 years, 2 percent of the deposited amount will be deducted and returned. If you withdraw money before maturity after 3 years of account opening, 1% of the deposited amount will be deducted and returned to you.
How to open a POMIS account
To open POMIS account, you must have Aadhar Card or Passport or Voter Card or Driving License. You will have to provide 1 passport size photograph. Whereas for address proof, ID card or utility bill will be accepted by the government. You will have to go to the post office and submit all these documents along with the form. The name of the nominee will have to be given in this form. Only Rs 1,000 is required to open an account which you can pay through cash or cheque.
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