Post Office: Post Office's 5-year scheme, interest starts accruing from the time the account is opened, Rs 5500 is received every month..

Post office savings schemes are quite popular across the country, especially poor and middle class families invest more in post office savings schemes. The biggest reason for this is the safety of money with stable returns. Do you know about the Post Office Monthly Income Scheme, in which interest money starts coming only after investing, and this amount is maximum Rs 5500 on a single account.

POMIS is a special monthly income scheme offered only by the post office. The special thing is that in this scheme, account holders get monthly interest at the rate of 7.4%. Let us tell you the features related to Post Office Monthly Income Scheme...

Features of POMIS scheme

- A minimum of ₹ 1000 can be invested in the POMIS scheme, but the maximum limit of investment is limited to ₹ 9 lakh. However, a maximum of Rs 15 lakh can be deposited in a joint account.

-In this scheme, the payment of interest starts after one month of opening the account and this money is available till maturity.

-The duration of this scheme is 5 years, and through this you can arrange for a permanent guaranteed income every month.

How to get Rs 5500 every month

Since, the biggest feature of this special scheme of the post office is that the payment of interest money starts after one month, and this income from interest can be up to Rs 5500 per month.

If a single account holder invests a maximum of Rs 9 lakh in his account, then he will be paid Rs 5500 every month at an interest rate of 7.4%. At the same time, in the case of a joint account, due to the maximum investment of 15 lakh, this monthly interest amount will be Rs 9250.

If you want, you can take the interest money monthly, quarterly, 6 months or annually. On completion of the 5 year period, the principal amount deposited in the account and the interest accrued are paid.

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