Post Office MIS: If you’re looking for a risk-free investment and a steady monthly income, the Post Office Monthly Income Scheme (POMIS) could be a solid option. This government scheme, free from the volatility of the stock market, is specifically designed for those who want to earn monthly interest on their deposits without any stress.
Secured by the Government of India, this scheme requires you to make a one-time deposit, ensuring a guaranteed monthly income for the next five years. There’s no better and more reliable way to achieve your financial goals by 2026 than the Post Office MIS.
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Invest once, earn monthly returns
The principle of this Post Office scheme is simple: “Deposit once, earn repeatedly.” You deposit a lump sum, on which the government currently offers interest at 7.40% per annum. The most significant advantage of this interest is that it’s credited to your account monthly instead of annually, significantly reducing the burden on your monthly household expenses.
How much will you earn on ₹9 lakh and ₹15 lakh
The investment limits and the potential returns from this scheme are easy to understand. If you open a single account, you can deposit a maximum of ₹9 lakh. At an interest rate of 7.4%, this investment will generate a monthly income of ₹5,550, which translates to a substantial profit of ₹66,600 over a year.
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However, if you open a joint account with your wife or a family member, the investment limit increases to ₹15 lakh. In this case, your monthly income will be ₹9,250, giving you a total of ₹1,11,000 in earnings over the year. The special thing is that after the completion of the 5-year term, you get your principal amount safely returned.
Why Choose Post Office MIS
- It is completely safe because it offers the unwavering security and sovereign guarantee of the Government of India.
- You can start your account with as little as ₹1,000.
- Stock market fluctuations and declines will not affect your earnings.
- You can open a joint account alone or with up to three people.
- You can nominate a family member at the time of opening the account or later.
- You can instruct your monthly interest to be transferred directly to your Post Office RD account, further increasing your savings.
- At the end of the 5-year term, your principal is fully returned.
- After the term ends, you can reinvest the same solid fund for the next 5 years.
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Retirement Planning
Many smart investors today use the National Pension System (NPS) and Post Office MIS together to further strengthen their future planning. While the NPS is designed to provide a substantial corpus at the time of retirement, the Post Office MIS provides a solid cash flow system for monthly expenses immediately after retirement. If you develop the habit of investing from the age of 30, you can save tax and maximize returns by dividing your savings across various stable government schemes.