Post Office Monthly Income Scheme: If you are thinking of investing, then many government schemes are being run by the government across the country. Investing in these schemes is giving strong returns. Along with this, security is being obtained with zero risk. In this article, we are talking about the special scheme of the post office. These savings schemes are very popular among the common people. Especially the middle and low-income groups of people like to invest in post office schemes to keep their hard-earned money safe.
We are talking about the Monthly Income Scheme of the Post Office, just as the name of this scheme suggests, the work of this scheme is also the same. In this scheme, you get monthly money on investment. Post Office Monthly Income Scheme (POMIS) is a scheme in which a fixed interest is available every month.
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What is the POMIS Scheme?
Post Office Monthly Income Scheme (POMIS) is a government savings scheme, in which you get a fixed interest every month on investing. Currently, this scheme is getting a 7.4% annual interest rate, which comes to the account holder’s account every month. In this scheme, a single account gets a maximum interest of Rs 5500.
Specialty of POMIS
Talking about the minimum investment in the POMIS scheme, you can invest at least 1 thousand rupees in it, but the maximum limit of investment is up to 9 lakhs. However, a maximum of 15 lakh rupees can be deposited in a joint account. In this scheme, the payment of interest starts after one month of opening the account, and the money is received till maturity. The maximum period of this scheme is 5 years, and through this, you can arrange for a permanent income every month. This is how you will get 5500 rupees every month.
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The biggest feature of this special scheme of the post office is that the payment of interest starts after one month, and the income from interest can be up to 5500 rupees monthly. If a single account holder invests 9 lakh rupees, then he earns 5500 rupees monthly from interest at the rate of 7.4 percent. On the other hand, if a joint account holder invests 15 lakh rupees, then he earns 9250 rupees from the monthly interest.
