Individual investors get a guaranteed income of at least Rs 2,475 or Rs 29,700 per month, while a combined account earns double the profit. Post Office Monthly Income Scheme
New Delhi: If you are looking for an investment option that guarantees a monthly return, then Post Office Monthly Income Account (POMIS) can be a good plan. Under this scheme, married people get double the profit. There is facility for opening single and joint account. Individual investors get a guaranteed income of at least Rs 2,475 or Rs 29,700 per month, while a combined account earns double the profit. (Post Office Monthly Income Scheme Account Get Rs 60000 In Pomis Know Everything Here)
If you open a single account in POMIS, you have to deposit a lump sum of Rs. You can also deposit a maximum of Rs 9 lakh through a joint account. This includes 6.6 per cent interest for the whole year in 12 months. The amount of each month is your monthly income. The maturity of the scheme is 5 years, but it can be extended to 5-5 years under further reinvestment.
How to open a MIS account
You can open your MIS account by visiting the nearest post office. While filling up the POMIS form, you will need ID card, proof of residence, 2 passport size photographs. You will also need a witness when filling out the form. Deposit cash or check a fixed amount to open an account with the form.
How much interest do you get?
> Post Office Monthly Income Scheme (POMIS) earns 6.6 per cent interest per annum.
>> Interest is payable on completion of one month from the date of commencement and till maturity.
>> If the account holder has not claimed the interest every month, then no additional interest will be earned from such interest.
>> If the depositor takes any additional deposit, the additional deposit will be refunded and only post office savings account interest will be applicable from the date of opening of the account to the date of withdrawal.
>> Interest can be deducted by auto credit or ECS in the same post office savings account.
>> The interest received by the depositor is taxable.
Rules for closing a pre-matured account
> No amount can be withdrawn before the expiry of 1 year from the date of deposit.
>> If the account is closed 1 year before and 3 years before the opening of the account, 2% of the original amount will be deducted and the remaining amount will be paid.
>> After 3 years from the date of opening the account and if the account is closed 5 years ago, 1% of the original amount will be deducted and the remaining amount will be paid.
>> Account can be closed before submitting the prescribed form along with passbook to the concerned post office.
I will get around 60 thousand rupees every year
With one account, you can deposit at least Rs. 4.5 lakhs in the Post Office Monthly Income Plan. The total interest on this amount will be Rs 29,700 at an annual interest rate of 6.6 per cent. As per the interest rate, the total interest on this amount will be Rs 29,700. In addition, a maximum of Rs 9 lakh can be deposited in the scheme through a joint account. As per the interest rate, the total interest on this amount will be Rs 59,400.