Post Office Investment Scheme: Every citizen of the country wants to invest in a place where their money is safe, and they can also get profits in the future. Many people invest in banks and earn good returns, but the post office is also a great option. The post office has some reliable schemes that can provide excellent returns.
You must have heard of the Monthly Income Scheme. If you want to earn income every month, then this scheme can be a worthwhile option. This scheme is suitable for housewives and families who want a completely safe return on their investment. By investing up to ₹2 lakh in the Monthly Income Scheme, you can easily earn a substantial amount of interest. You can find out more important details about this below.
Get a substantial amount on an investment of ₹2 lakh
Investing in the Post Office Monthly Income Scheme will give you excellent interest. If you invest ₹2 lakh in this scheme, you will get a significant return. Currently, this scheme offers an annual interest rate of 7.4 per cent. Based on this interest rate, the monthly calculation works out to a fixed amount of ₹1233.
This amount will be transferred directly to your account every month. This will make it much easier to manage your monthly expenses. After 5 years, your entire principal amount, i.e., ₹2 lakh, will be returned to you.
If you want to avail the benefit of monthly interest in the Monthly Income Scheme, you can open an account subject to certain conditions. Investors will not have to face any difficulties. The Monthly Income Scheme is quite special, and you can take advantage of it.
Important things related to the Monthly Income Scheme
If you want to open an account in the Post Office Monthly Income Scheme, you will have to invest a minimum of ₹1000. You also have the option of opening a joint account in this scheme. With a single account, you can invest a maximum of ₹9 lakh.
If you open a joint account, you can invest up to a maximum of ₹15 lakh. A maximum of 3 people can be included in a joint account. This will make it easier to invest together with family members.
How will you receive the interest? The interest earned on the Monthly Income Scheme is transferred to the account on a monthly basis. This money is then transferred to a Post Office savings account. Having a Post Office savings account is essential to invest in this scheme. If you don’t already have a Post Office savings account, you will need to open one first.
This scheme will be a boon for these people.e
This Post Office scheme will be a blessing for those who are looking for a source of income every month. It’s ideal for retired individuals, senior citizens, housewives, and families who want to manage their household expenses with a fixed monthly income. This scheme can be quite beneficial for such people. They can invest in the Monthly Income Scheme with low risk.
vipin kumar
Vipin Kumar is An experienced journalist with 8 years in the media industry, having worked with prominent news platforms including Dainik Jagran and News24. Currently serving at Timesbull.com for almost four years, dedicated to delivering truthful, transparent, and people-centric news that informs and empowers readers. Committed to transparent, ethical, and...
Related Stories
Education
Gadgets
Business
Gadgets
Education
Gadgets
Business
Business
Business
Gadgets