We are telling you about the Post Office Monthly Income Scheme. As the name suggests, it is a monthly income scheme. Through this scheme, you can get your money back with full guarantee that too with interest.
Post Office Monthly Income Scheme: Due to increasing financial insecurity, people are looking to invest in such a place which is also safe and returns are also good. If you are also looking for such an investment option, then the Post Office Monthly Income Scheme can prove to be a better option for you. In this, the risk on investment is also less and the return is also good.
We are telling you about the Post Office Monthly Income Scheme. As the name suggests, it is a monthly income scheme. Through this scheme, you can get your money back with full guarantee that too with interest.
Money will be available every month
in this scheme of the post office, an annual interest of 6.6 percent is available. Its maturity period is 5 years. That is, after 5 years you will start getting guaranteed monthly income. If you deposit Rs 4.5 lakh in lump sum, then after 5 years you will get Rs 29,700 every year. If you want income every month, then you will earn Rs 2475 per month.
The account will be
opened in only 1000 rupees, under the Post Office Monthly Income Scheme, the account can be opened for only 1000 rupees. Any person who has completed 18 years of age can open the account. A person can open an account with a maximum of 3 account holders simultaneously.
What are the terms of the scheme
One condition of opening this account is that you cannot withdraw your deposit before 1 year. On the other hand, if you withdraw it before the completion of its maturity period i.e. between 3 to 5 years, then 1 percent of the principal amount will be returned after deducting it. On the other hand, if you withdraw money on completion of the maturity period, then you will get all the benefits of the scheme. Another good thing with the post office is that it is considered one of the safest investment channels. That’s why a lot of people trust it.
