Post Office Investment Scheme | In this current inflationary period, many people are investing money in various places so that they should have a base of four paise even in their old age. Everyone wants to be safe while doing this trick. In today’s time, with stock market fluctuations, global financial instability and rising inflation, many people are looking for alternatives to bank FDs and post offices for safe investment. If you are one of such investors, this news is important for you.
Post Office has an investment scheme that pays you a certain amount every month on your lump sum investment. The name of this scheme is Monthly Income Scheme (MIS). This scheme is a popular savings scheme supported by the central government. In this scheme you have to deposit a lump sum amount. The interest earned on that amount is then credited to your account every month. Hence, this scheme is beneficial for retirees, housewives, senior citizens and investors who want stable income. Post Office Investment Scheme
Currently 7.40 percent annual interest rate is being paid on this scheme. The most important thing is that this interest is paid every month instead of at the end of the year. Hence, the investor gets the benefit of regular income. If you invest Rs 9 lakh in this scheme, at 7.40 per cent you will earn approximately Rs 66,600 per annum. That means around 5,550 will be credited to your account every month. This is an easy way to earn regular income for the next five years with a one time investment. Post Office Investment Scheme
If a husband and wife or two individuals open a joint account, the investment limit goes up to 15 lakhs. An interest of approximately Rs 1,11,000 per annum can be earned on this amount. That means you can get around Rs 9,250 per month.
The duration of this scheme is 5 years. After five years you get your entire principal amount back. Also you can continue the monthly income by reinvesting in this scheme if you want. But some rules apply in case of withdrawal before maturity. Withdrawals can only be made after a certain period of time and some penalties may apply. So it is necessary to get complete information before investing.
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