Post Office MIS: There will be guaranteed earnings every month.
Whenever there is talk of safe and reliable savings schemes, then the thoughts of post office schemes definitely come to mind. Post office plans can prove to be a good option for the middle class family, who want to increase their hard earned money without risk.
One of the many good schemes of the post office is, Post Office Monthly Income Scheme (POMIS). This is a Dhansu scheme that gives firm earnings every month and after 5 years also returns your entire investment. Let’s understand the entire calculation of this scheme…
What is Post Office Monthly Income Scheme (Pomis)?
This scheme is run by the post office, in which investment is received every month on investing. Its biggest feature is that it gets 7.4% annual interest rate, which is deposited in your account on a monthly basis. This scheme is special for those who want a certain income every month and also want to keep their money safe.
In this scheme, you can start investing with at least ₹ 1000. You can deposit up to a maximum of ₹ 9 lakh in single account, while this limit for joint account is up to ₹ 15 lakh.
How to earn ₹ 5500 every month?
If you deposit a maximum of ₹ 9 lakh in this scheme, then you have a guaranteed income of about ₹ 5500 every month. This money comes directly into your account and there is no risk in it. On the other hand, if you have invested ₹ 15 lakh by opening a joint account, then every month will be a fixed earning of about ₹ 9250. You can also take this money on a month, quarter, six months or annual basis as per your convenience.
After 5 years, you will get full money back
This scheme is for a period of 5 years. You start getting monthly interest from one month after opening the account. And at the completion of 5 years, you get your full investment back without any deduction. That is, income will also be available every month for 5 years and in the end your deposited money will also return completely safely.