Post Office scheme: At present, interest is being given at the rate of 7.4 percent per annum in the monthly income scheme of the post office. A maximum of Rs 9 lakh can be deposited in this. On an investment of Rs 9 lakh, you get Rs 5500 as interest every month.
Post Office scheme: The problem faced by employed people is that they get their salary on the first date and by the 10th, the entire salary is lost. While settling the accounts of the milkman, kitchen ration, children’s fees, house rent etc., the pockets become empty. Every 20 days of the month pass by waiting for the first date. Therefore any working person is always in search of extra income. For this he also invests here and there. In this article, we are discussing about one such scheme which will provide relief to those waiting for the first date and will provide extra income in the middle of the month.
Although there are many savings schemes in the post office, but the monthly income scheme is a scheme which provides income to the investor every month. Income every month and that too with guarantee. In Post Office Monthly Income Scheme, you can open a joint account alone or with your life partner. In this scheme, you can get a fixed amount every month by depositing a lump sum amount.
Income every month
If you open an account alone in the Post Office Monthly Income Scheme, you can deposit a maximum of Rs 9 lakh and in a joint account, you can deposit a maximum of Rs 15 lakh. This amount is deposited for at least 5 years. You earn income every month from the interest received on the money you have deposited. If you open this account with your life partner and deposit Rs 15 lakh, then you can earn extra income of up to Rs 9,250 every month. Interest of Rs 5500 is available every month on a deposit of Rs 9 lakh.
Interest at the rate of 7.4 percent
Currently, interest is being given at the rate of 7.4 percent in the Post Office Monthly Income Scheme. Any citizen can open an account in this scheme. You can also open an account in the name of the child. Maximum three people can join a joint account. To open a post office monthly income account, you will have to take home address, photo identity card, Aadhar card and PAN card and two passport size photographs and submit it along with the form to the nearest post office.
Premature withdrawal
Although money is deposited in Post Office Monthly Income Scheme for 5 years, but if you want to withdraw money on time due to some need, then you can withdraw your money only after one year of opening the account. In this you have to pay some fee. If money is withdrawn within one to three years, 2 percent of the total deposit is deducted. One percent fee is charged for withdrawal of money after three years and before 5 years. After completion of 5 years on maturity, you get your entire amount back. If you do not want to withdraw your money even on maturity, you can deposit it again for the next 5 years.
