Post office
Post Office: If you are troubled by the uncertainty of the stock market and want a firm return without any risk, then some schemes of the post office may be the best option for you. Many guaranteed returns of post office across the country are quite popular among the people. One such scheme is Post Office Monthly Income Scheme (POMIS), which you can take advantage of with your family after marriage. You can earn a lot of good every month for a long time by applying money once in this scheme.
Accounts can also be opened in the name of children
You can also open this scheme in the name of your child older than 10 years. With this, interest received every month can be used in the school fees or other expenses of the child. This scheme is also better for those couples who want to make a strong financial plan after marriage.
What is the post office monthly income scheme?
According to the website of India Post, you can open an account with just Rs 1,000 in Pomis. It has both single or joint account facilities. You can deposit more than 9 lakh rupees in single account, while this limit is up to Rs 15 lakh in joint account. Interest is paid every month. Currently, this scheme is getting 7.4% annual interest. The maturity of this scheme is 5 years, which you can increase by 5 years.
How does Pomis Scheme work?
The annual interest in this scheme is divided into 12 parts and every month your account is transferred. If you do not withdraw the interest of the month, then it will continue to be deposited in your post office savings account. You also get your entire principal back on maturity.
How much will you get a month’s earning?
If you invest Rs 15 lakh by opening a joint account with your spouse, then you will get an interest of about 1 lakh 11 thousand rupees annually. That is, there will be a fixed income of about Rs 9,250 every month. If you invest 9 lakh rupees in a single account, then you will get an interest of about 66,600 rupees annually and will earn about 5,550 rupees every month. The special thing is that there is no risk in this and your money is completely safe.