In the special scheme of the post office, you get a fixed income every month. On completion of the scheme, you get your entire accumulated capital, which you can invest in this scheme again and maintain the monthly income.
It has not been much time since the new financial year started. In such a situation, if you are doing any new planning, then a special saving scheme of the post office can be beneficial for you. There is also a good income every month through this scheme. Experts say that this scheme is better for all those who either want to earn extra income on their deposits or people who do not have any regular means of earning.
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What is the scheme- You can invest in the Post Office Monthly Investment Scheme ie POMIS. This is a government scheme in which fixed income is made every month after investing money. Experts consider this plan to be one of the best investment options, as it has 4 major benefits.
You get four benefits – Anyone can open and your deposit is always intact. You get better returns than a bank FD or debt instrument. With this, you keep a fixed income every month and then on completion of the scheme you get your entire accumulated capital, which you can invest in this scheme again and keep the monthly income.
You can also open an account for your children – You can also open an account with your child’s name. If the child is less than 10 years old, an account can be opened in his name on behalf of his parents or the Legal Guardian. When the child is 10 years old, he can also get the right to operate the account himself. At the same time, after getting an adult, he gets the responsibility himself.
Want this document – according to your convenience, you can open an account by going to any post office. For this, you will have to submit a photocopy of one of the Aadhar card, Voter ID, PAN card, ration card, driving license. Apart from this, address proof has to be submitted, in which your identity card can also be used. Apart from this, you have to submit 2 passport size photographs.
Earnings will be made every month – Under the investment scheme of every month, 7.3 percent interest is earned annually. This annual interest is distributed over 12 months, which you get on a monthly basis. If you have deposited Rs 9 lakh, then your annual interest will be around Rs 65700. In this context, you will have an income of about 5500 rupees every month. You will get 5500 rupees every month, while your 9 lakh rupees will be returned after adding maturity period by adding some more bonuses.
If you do not withdraw money every month- If you do not withdraw money every month, then it will remain in your post office saving account and this money along with the principal You will also get further interest by adding The maturity period for the scheme is 5 years. After 5 years, you can invest your capital in this scheme again.
Withdraw money before maturity- If you have to withdraw money before maturity on any need, then you get this facility on completion of 1 year of account. If the account is older than 1 year to 3 years from the date of opening the account, you get the remaining amount back by deducting 2% from the amount deposited in it. If you have an account that is more than 3 years old, you get 1% of the amount deposited in it and the rest is returned to you.
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