<p>Experts say that financial security comes only from managing your earned money properly. Now, let’s learn about a great investment scheme that offers good returns with government support.</p><p> </p><img><p>The Post Office Monthly Income Scheme (POMIS) is a ‘no-risk, guaranteed income’ plan. It’s great for seniors and employees. Deposit a lump sum and get fixed monthly interest for 5 years. You can extend it if needed.</p><img><p>The current annual interest rate is 7.4%. For a joint account, the max deposit is Rs 15,00,000. This gives you Rs 9,250 monthly, directly to your savings account. The annual interest income is Rs 1,11,000, totaling Rs 5,55,000 in five years.</p><img><p>If you open a single account, you can invest up to Rs 9 lakh. It also offers 7.4% interest. An investment of Rs 9 lakh yields Rs 5,550 monthly interest. The total income over 5 years will be Rs 3,33,000.</p><img><p>In the POMIS, your principal remains safe while you earn interest. After 5 years, you get your full amount back. Unlike FDs, there’s no market risk. Monthly interest improves cash flow. You can extend the scheme for another 5 years.</p><img><p>Opening a POMIS account is easy. Any Indian citizen can open one, even for a minor. If the child is under 10, parents/guardians operate it. Visit a post office with an Aadhaar and PAN card. A PO savings account is mandatory.</p>
