Post Office: This Post Office scheme surpasses even FDs and RDs! It offers a monthly income of ₹9,250..

The Post Office Monthly Income Scheme is a small savings scheme supported by the Government of India. The objective of this scheme is to provide investors with safety for their money along with a regular monthly income. This scheme is especially designed for those who want to avoid risk and want a fixed income every month while keeping their capital safe. You can also call it a type of safe term deposit, where you receive money every month in the form of interest.

Interest offered on this scheme:

This scheme offers an annual interest rate of 7.4%.
The annual interest is divided into 12 installments.
The investor receives a fixed income every month.
The monthly amount can remain deposited in the savings account.
No further interest is earned on this interest.
Interest is calculated only on the principal amount.
This scheme provides a secure and regular income.

Understand the income calculation:
A maximum investment of ₹9 lakh is possible in a single account.
On ₹9 lakh, an annual interest of ₹66,600 will be earned at 7.4%.
This will result in a monthly income of approximately ₹5,550.
Up to ₹15 lakh can be invested in a joint account.
On ₹15 lakh, an annual interest of approximately ₹1,11,000 can be earned.
Dividing this by months, the income will be ₹9,250 per month.
The monthly income remains fixed and regular.
This provides support for expenses after retirement.
It is a reliable source of income without risk.
You will get peace of mind with a secure investment.

When will the fund mature?
The maturity period of this scheme is 5 years.
After 5 years, the entire deposited amount is returned.
The principal amount remains completely safe.
There is an option to reinvest at maturity.
The monthly income can be continued further.
It is a reliable source of income for the long term.

Understand the account opening process:
The account can be opened in both single and joint names. A joint account can include a maximum of 3 adults.
Accounts can also be opened in the name of a minor.
The minor must be at least 10 years old.
Parental or guardian supervision will be required.
An Aadhar card is mandatory for opening an account.
An account will not be opened without a PAN card.
An Aadhar enrollment slip is also acceptable.

These rules apply to all Post Office schemes.
The account opens easily if all documents are complete.
Post Office schemes are a safe option for making money.
First, a savings account is required at the Post Office.
For this, fill out the Monthly Income Scheme form.
Deposit the investment amount as per your choice.
Payment can be made in cash or by check.

The account will be opened as soon as the process is complete.
You will start receiving a fixed income every month. (Note: The calculation given here is approximate. The government reviews the interest rates of small savings schemes every three months, so further changes in interest rates are possible.)

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