For anyone who is looking for a regular source of income or a facility through which he gets regular financial benefits, then the Post Office Monthly Plan operated by India Post is the best option for such individuals.
For your information, let us tell you that this plan of the Post Office is a safe and convenient option for investors because in this monthly investment plan, your invested money is completely safe and in this plan you also get regular income.
If you are looking for regular income and now you want to know complete information about the Post Office Monthly Investment Scheme, then you all can read the complete information in this article and know about the new scheme of the Post Office and can easily join this monthly investment scheme.
To join this new scheme of the Post Office, you have to invest a certain amount in it and you all can join this scheme by investing a minimum of ₹1000 in the Post Office Monthly Investment Scheme. Apart from this, if we talk about the maximum investment in this scheme, then you can also invest up to ₹9 lakh in this scheme.
For the information of all of you, let us tell you that in the Post Office Monthly Investment Savings, you also get a good interest rate which is 7.4% and this interest rate is much higher than any other scheme. Under this scheme, you will not only get the opportunity to get a fixed amount, but also get the facility of keeping your money safe.
Any person can also invest individually in the monthly investment scheme run by the Post Office. In addition, the scheme also provides the facility of joint holding in which two or more persons can invest together. In addition, parents and guardians can open accounts on behalf of minors and mentally ill persons and continue the investment process safely.
Guaranteed income of Rs 5000 every month
Now let's talk about how you can earn more than Rs 5000 every month from this scheme after investing once, so for this, take the help of Post Office MIS calculator. If you invest Rs 5 lakh in it, then at the rate of 7.4 percent interest, you will get an interest income of Rs 3,083 every month, while on investing a maximum of Rs 9 lakh, the interest income every month will be Rs 5550. Let us tell you here that the lock in period in this scheme is 5 years.
If you open a joint account and invest a lump sum of Rs 15 lakh as per the rules, then you will get an income of Rs 9,250 every month at the rate of 7.4%. If the investor dies before the maturity of 5 years, then the account is closed and the deposit amount is returned to the nominee or legal heirs. Interest will be paid till the last month of the scheme's closure.
Account closing before maturity
If you want to close your account before the maturity of this post office scheme, then you will be able to do this only after the completion of one year from the date of investment. If the account is closed after one year and before 3 years from the date of opening the account, then 2 percent of the investment amount will be deducted and the remaining amount will be paid. If the account is closed after 3 years and before 5 years from the date of opening the account, then 1 percent of the principal amount will be deducted and the remaining amount will be paid.
Investment Limit and Interest Rate
As mentioned in the article, you can start investing under this scheme by depositing a minimum of ₹1000 and the maximum investment amount limit has been fixed at Rs 9 lakh. In addition, you can also invest up to Rs 15 lakh in a joint account.
In addition, the interest rate on Post Office Monthly Savings Income Scotch has been kept at 7.4% and by investing ₹1000 every month, you get an income of Rs 62. In addition, you can easily credit the income received on the invested amount to Post Office Savings.
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How to get monthly income benefit?
If we talk about the benefit of monthly income, you can withdraw the interest earned from this scheme every month and deposit the amount in the matured account as per your wish, but as a result of this you will not get any separate interest and if any excess amount is deposited, then that deposited amount will be returned to you and only the interest rate of the post office service will be applicable.
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