Post Office Monthly Saving Scheme: The investment limit in Post Office Monthly Saving Scheme (POMIS) has also been increased. Earlier the investment limit for individual account holders was Rs 4.5 lakh, which has been increased to Rs 9 lakh.
Post Office has various Saving Schemes for every age and class, which are very popular among the people. In this, along with the security of the money invested by you, you also get strong returns. One such scheme is the Post Office Monthly Income Scheme, which guarantees income to the investor every month.
Interest is available at the rate of 7.4%.
The returns in this monthly income scheme of Post Office are also excellent. From July 1, 2023, the interest on investment has been increased to 7.4 percent. The most important thing about this scheme is that by investing in it, the tension of your income every month ends. The maturity period of this government scheme is 5 years and money cannot be withdrawn from it until one year after the account is opened. In this, you can open an account with just 1000 rupees.
The government has also increased the investment limit for account holders investing under the Post Office Monthly Savings Scheme (POMIS) . Earlier the investment limit for individual account holder was Rs 4.5 lakh, which has been increased to Rs 9 lakh. On the other hand, if we talk about joint account, then for this the maximum limit has been increased from earlier 9 lakhs to Rs 15 lakhs. This increase in investment limit is effective from 1 April 2023. Once invested, you can arrange fixed income every month under this scheme.
Investors are getting more benefit from increasing the investment limit in this scheme. As told, you cannot close the account for one year after opening it. On the other hand, if you close the Post Office Monthly Income Scheme account before three years, then a charge of 2 per cent is applied for it, whereas after 3 years and before 5 years, one per cent is charged for closing the account. A charge of Rs.
This is the calculation of the income of the month.
In this scheme of Post Office, income is guaranteed every month by lump sum investment and calculate the income every month, so if you invest Rs 5 lakh in it for five years. , then according to the interest you get at the rate of 7.4 percent, you will have an income of Rs 3,084 every month.
On the other hand, if we look at the maximum limit of individual account holder i.e. Rs 9 lakh, then the income per month will be Rs 5,550. Apart from the month, you can also take this interest income on quarterly, half-yearly or yearly basis.
Open an account like this in the nearest post office.
It is very easy to open an account under Monthly Income Scheme (MIS). For this you can visit your nearest post office and submit the application along with necessary documents to the post office.
Applicant can collect the account opening form from the post office and submit it along with KYC form and PAN card. In case of joint account holders also KYC documents have to be submitted. Meanwhile, keep in mind that while filling the form at the time of opening the account, all the information should be entered correctly.
