Saturday , December 28 2024

Superhit scheme of post office, you will get Rs 9,250 every month for 5 years

Post Office Customers.jpg

Post Office Income: Do you want regular monthly income on your investments? If you are looking for a safe option with government guarantee, then Post Office Monthly Income Scheme (POMIS) may be the best option for you. This plan is a good way to avoid money problems after retirement and keep your savings safe.

What is Post Office Monthly Income Scheme (POMIS)?

POMIS is a small savings scheme designed by the government to provide stable monthly income. These are its benefits

Minimum Deposit: ₹1,000 (in multiples of ₹1,000)

Maximum Deposit: ₹9 lakh (single account) or ₹15 lakh (joint account)

Duration: 5 years (fixed)

Interest Rate (2024)

Interest rate: 7.4% per annum

Eligibility

single adult

Joint account with up to three adults

Guardians of minors or mentally handicapped persons

For minors above 10 years of age in their own name

How to calculate monthly income?

Formula for calculation of monthly income under POMIS:

Monthly Income = Deposit Amount × Interest Rate ÷ 12

Example:

₹5 lakh → ₹3,083 monthly

₹9 lakh → ₹5,550 monthly

₹15 lakh → ₹9,250 monthly

Post Office Monthly Income Scheme

The account can be opened with a minimum of ₹1,000.

The total amount deposited in all the accounts of an individual cannot exceed Rs 9 lakh.

Investment up to Rs 15 lakh is possible in a joint account.

interest paid

Interest is credited every month.

Payment can be taken through ECS or auto-deposited into the linked savings account.

No additional interest is paid on unclaimed interest.

Interest income is taxable.

premature withdrawal

Withdrawals are allowed after one year, but with penalties:

1-3 years: 2% deduction.

3-5 years: 1% deduction.

maturity benefit

The account matures after 5 years.

On maturity the principal amount deposited is returned.

In the event of death of the account holder, the nominee or legal heir can close the account.

Why choose pomace?

Secure Returns: It is run by the government and the money remains completely safe in it.

Regular Income: Retired individuals and conservative investors will benefit.