Post Office Monthly Income Scheme: Searching for a dependable way to guarantee a consistent income after retirement? You need look no farther than the government-backed Post Office Monthly Income Scheme, which is available to people from a variety of socioeconomic backgrounds. These schemes provide investors a safe haven of investment due to their good returns and government ownership guarantee.
Invest a Lump Sum for Monthly Income
By investing a lump sum, you can participate in the Post Office Monthly Income Scheme and earn a regular monthly income from the interest on your deposited amount. With a 7.4% current interest rate, this arrangement offers the chance to earn a pension of Rs 9,250 per month.
Safe Investment with Flexibility
The programme guarantees a safe investment with the option to withdraw the principle amount after the maturity period, regardless of whether you choose an individual or joint account with your spouse. Additionally, you have the option to renew the programme for five more years. The initiative allows for a higher investment ceiling of Rs 15 lakh, which can result in an annual interest of Rs 1,11,000 for individuals thinking about opening a joint account with their spouse.
Premature Closure Flexibility
Premature closure options are noteworthy because they let investors take partial withdrawals up to a year following the date of deposit; the amount withdrawn is deducted at different times, ranging from 1% to 2%.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
