Monthly Income Scheme: In this post office scheme, the new limit has been increased from Rs 4.5 lakh to Rs 9 lakh for single accounts and from Rs 9 lakh to Rs 15 lakh for joint account holders.
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Post Office Monthly Income Scheme (MIS): If you want to earn a good income every month, then the monthly income scheme of the post office will be the best for you. Finance Minister Nirmala Sitharaman has increased the limit of small savings scheme Post Office Monthly Income Scheme (POMIS) in the budget today. The new limit has been raised from Rs 4.5 lakh to Rs 9 lakh for single accounts and from Rs 9 lakh to Rs 15 lakh for joint account holders. In this scheme, you can now invest up to Rs 9 lakh in a single account and up to Rs 15 in a joint account. After this you will be able to get 10 thousand rupees every month.
Let us tell you that by investing only once in this scheme, you can take advantage of income every month. Because in this scheme you will get more interest than before. Because on the occasion of New Year, the government had increased the interest rates of this scheme by 0.4 percent. That’s why now instead of 6.7 percent, this scheme is getting annual interest at the rate of 7.1 percent.
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If you want to earn money by making a lump sum investment, then the monthly income scheme of the post office can become your source of income every month. In this scheme, the monthly income of those who deposit money afresh will increase. You can check the calculation of the difference between the profit before and now.
This scheme is giving good earning opportunity
The Monthly Income Scheme (POMIS) included in the Small Savings Scheme of the Post Office is giving investors an opportunity to earn every month. In this scheme, you can earn regular income by investing lump sum money. Here your entire investment will be safe and you can withdraw the entire amount after 5 years. It has the facility to open single and joint accounts. A maximum of Rs 9 lakh can be invested in POMIS through a single account. At the same time, a maximum of Rs 15 lakh can be invested through a joint account.
Now the income will be this much
Now if you invest Rs 15 lakh for the Post Office Monthly Income Scheme (POMIS), you will get 7.1 per cent annual interest rate. According to this, the total interest of one year from joint account was Rs 127800. This amount will be distributed in 12 months of the year. In this way, the interest of every month was about 10650 rupees. Whereas on depositing Rs 9 lakh through a single account, the monthly interest will be Rs 5326 and the annual interest will be Rs 63912.
Maturity is done in 5 years
The maturity period of the Post Office Monthly Income Scheme is 5 years, but after 5 years it can be extended further according to the new interest rate. Under this scheme, you are getting better returns as compared to bank FD. If you do not withdraw the monthly money, it will remain in your post office savings account and you will continue to earn further interest by adding this money along with the principal amount.
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