Nowadays every people wants to get some extra financial backup. For that, you’ll have to find a way to earn some extra money with a safe and secure way. There are many financial schemes in the market to support their customers some financial help, but are they safe enough for investments? That’s a question always remains. But when we are taking about Post Office and the Central Government Schemes, it is about security and guaranteed income opportunity which will work to make a common man’s financial status more strong. Through this article we’ll discuss the Post Office Monthly Income Scheme, a popular investment option for the citizens of India.
Want to get some extra income every month?
If you want to earn some money every month and want to keep your money safe, the Post Office Monthly Income Scheme could be a good option for you. This scheme offers fixed returns and guaranteed income. The Post Office Monthly Income Scheme is specifically designed for those who want to receive a fixed monthly amount. You invest once and then receive a fixed monthly interest.
It is a safe option for investment
It is considered a safe investment because it is backed by the government. Under this scheme, investors receive monthly interest on their deposits. This means your investment is protected and you receive regular income. This makes this scheme a good option for working and retired individuals. If you want to earn ₹6,000 per month, you’ll need to invest around ₹9.7 lakh in this scheme.
Why to invest in Post Office Monthly Income Scheme?
Currently, the interest rate is approximately 7.4% per annum. This translates to an annual interest of approximately ₹72,000. This means you’ll receive ₹6,000 in interest every month without doing anything. This post office scheme can be opened in both individual and joint accounts. The investment limit for individual accounts is different, while joint accounts allow for higher deposits.
Investments in this scheme are made for a fixed period. Upon completion of that period, your investment is returned, and if the investor wishes, they can redeploy it to a new scheme. You can visit your nearest post office for more information about the scheme.