POMIS Scheme- Do you want a secure way to earn a fixed monthly income? Here we have listed a government-backed scheme that may be good for you. It offers a good interest rate and helps you get a steady income every month. Let’s see how this scheme can turn your savings into a regular monthly income?
The Post Office Monthly Income Scheme in discussion is a famous initiative by the government to create an income source for investors, which is safe and reliable. This scheme is available in post offices all over India and is named Post Office Monthly Income Scheme (POMIS) Is.
What is Post Office Monthly Income Scheme (POMIS)?
Post Office National Savings (Monthly Income Account) Scheme (MIS) is a government-guaranteed savings scheme, which offers a fixed interest rate and monthly income to investors.
How does this scheme work
Currently, 7.4% annual interest is being given on the Post Office Monthly Income Scheme. The annual interest on the money deposited in it is divided into 12 parts. It will be credited to your account every month. If you do not withdraw the monthly amount, it will remain in your Post Office Savings Account. It will be credited along with the principal amount on maturity.
How much will married people earn every month?
If you open a joint account of Rs 15 lakh, the annual interest will be Rs 1,11,000. The monthly income in this will be around Rs 9,250. On the other hand, the annual interest on a single account of Rs 9 lakh will be Rs 66,600. You will get around Rs 5,550 every month in this. If you open a joint account with your life partner, you will get Rs 9,250 every month. There will be no risk of any kind in this.
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