As the prices of daily essential goods are increasing, middle-class families are in search of extra income. If somebody wants to earn some extra money every month, then there is a secure way with a government guarantee. If you want to earn some money every month and want to keep your money safe, the Post Office Monthly Income Scheme could be a good option for you.
Post Office Monthly Income Scheme Details
This scheme offers fixed returns and guaranteed income. The Post Office Monthly Income Scheme is specifically designed for those who want to receive a fixed monthly amount. You invest once and then receive a fixed monthly interest. It is considered a safe investment because it is backed by the government. Under this scheme, investors receive monthly interest on their deposits. This means your investment is protected and you receive regular income. This makes this scheme a good option for working and retired individuals.
Earn Rs 6,000 every month
If you want to earn ₹6,000 per month, you’ll need to invest around ₹9.7 lakh in this scheme. Currently, the interest rate is approximately 7.4% per annum. This translates to an annual interest of approximately ₹72,000. This means you’ll receive ₹6,000 in interest every month without doing anything. This post office scheme can be opened in both individual and joint accounts.
The investment limit for individual accounts is different, while joint accounts allow for higher deposits. Investments in this scheme are made for a fixed period. Upon completion of that period, your investment is returned, and if the investor wishes, they can redeploy it to a new scheme. You can visit your nearest post office for more information about the scheme.
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