India Post Investment Scheme: How Much Deposit is Needed to Earn ₹9,250 Monthly? Check the Calculation

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Post Office Best Scheme

Post Office MIS: Rs 9,250 in hand every month. Who wouldn’t like it! Looking for a way to earn extra income along with a job or business? In that case, you can keep an eye on this scheme of the Post Office. And that guarantees an income of up to Rs 9,250 per month. Many people are looking for a permanent and secure source of monthly income in the rising market. The Post Office Monthly Income Scheme (POMIS) can be ideal for them. In this scheme of India Post, once you deposit a certain amount, you get a fixed interest every month for five years. At the end of the term, the principal investment is also fully refunded.

How to earn Rs 9,250 per month?

Currently, the interest rate in this scheme is 7.4 percent per annum. This interest is deposited in the account every month. A maximum of Rs 9 lakh can be deposited in a single account. A maximum of Rs 15 lakh can be deposited in a joint account.

If a person deposits Rs 15 lakh in a joint account, then the interest will be about Rs 1,11,000 per year. That is, about Rs 9,250 will be deposited directly in the account per month.

Who will benefit the most?

  • According to experts, this scheme is mainly suitable for;
  • Retirees, who want additional income in addition to pension.
  • Families, who want reliable income to meet fixed expenses every month
  • Those who do not want to take risks and are looking for safe investments
  • Many are using this scheme as ‘extra salary’. Because the money is available on a specific day every month.

Secure income for five years

The period of this scheme is five years. During this period, interest will be available every month on the money invested. At the end of the period, the full principal is returned.

As a result, the investor does not have to worry about investing money again and again. This is an easy way to get permanent income.

It is important to know important rules

Before investing in this scheme, you need to know a few things;

Income tax is applicable on interest
This scheme does not provide 80C tax deduction
Some conditions apply if money is withdrawn before maturity
A maximum of three people can invest jointly in one account
Due to the decline in bank interest rates and the uncertainty of the stock market, many are looking for a safe alternative. This scheme of the post office is giving hope in that place.

Ask yourself these three questions before making a decision

Do you want a fixed monthly income?

Will you not withdraw money for five years?

Do you want a low-risk scheme for fixed income?

If the answer to these three is ‘yes’, then this scheme of the post office is suitable for you.

Note: Shares, investment related reports are just market observations. These are not investment advice. Before investing in the market, you must study and take expert help.

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