Hello Friends, Most individuals prefer Post Office as a safe investment avenue, guaranteeing both the safety most and satisfactory returns of their money. Various post office schemes are not associated with any financial risks. Regularly, the Post Office presents its customers with new schemes to explore. Today, we will introduce you to an amazing scheme called Post Office Monthly Income Scheme.
Post Office Interest Rate
The postal service system allows show up to 100 transactions, each requiring a minimum deposit of Rs 1000. At most, four transactions can be carried out simultaneously.
With the Post Office Monthly Income Scheme , individuals can deposit a maximum of Rs 5 lakh in one account. However, if they choose to open a joint account, they have to pay Rs. 9 lakhs, but they will get the see benefit of the highest limit. Note that this joint account option is applicable for a group of three persons.
If a minor is involved, it is worth mentioning that parents have the option to register the account in their own name. Also, it is important to highlight that, after ten years, parents can choose to open an MIS account for see their child through the post office.
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What is the interest rate of Post Office Monthly Income Scheme?
To avail the Post Office Monthly Income Scheme, a fixed monthly deposit is required. Currently, the scheme offers an interest rate of 6.6 per cent, calculated annually by the post office. However, failing to claim the monthly interest will result in the account holder missing out on any additional interest earned on their deposited money.
Tenure of 5 years
The duration of the post office scheme is 5 years. It is possible to withdraw funds from this account only after the first year after opening it. If you choose to close the account within 1-3 years, 2 percent is deducted from your principal amount. However, if you choose to close this POMIS account within 3-5 years, the penalty is reduced by 1 percent.
If you deposit Rs 4.5 lakh then you will get Rs 2475 per month
As calculated by MIS calculator, in this particular account Rs. 50,000. This amount results in a monthly compensation of Rs. 275 is deposited continuously over the course of a year, resulting in an annual total of Rs. 3,300 is. Over a period of five years, the accrued interest reaches an amount of Rs. 16,500 is.
Similarly, if Rs. 100,000 is invested, the annual gain is Rs. 6,600 while Rs. 550 against a monthly return. Additionally, an additional Rs. 33,000 can be accumulated over a period of five years. Conversely, depositing see Rs. 450,000 post office monthly income scheme will get a monthly salary of Rs. has been kept at 2,475.
In this particular example, the annual accrual of interest is Rs. 29,700, resulting in a total of Rs. 148,500 over a period of five years.
Note : This article is written only to give you information, we have read and analyzed all this information from sow news websites and newspapers. Check the official website for more information.
Important Links
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