1. Guaranteed Monthly Income:
Invest just 3 lakhs and receive a steady income of Rs 20,000 every month. This Post Office scheme ensures a reliable monthly payout.
2. Risk-Free Investment:
Looking for a secure and risk-free way to earn? The Post Office Monthly Income Scheme guarantees your monthly income without any risks. Your money remains completely safe in this plan with a maturity period of 5 years.
3. Easy Account Opening:
Opening a Monthly Income Scheme (MIS) account is hassle-free. You can start with a minimum of Rs.1,000 at any post office branch. Individual and joint accounts are available, allowing investments from 4.5 lakhs to 9 lakhs.
4. Interest Calculation:
Deposit 3 lakhs, and you’ll earn Rs 19,800 annually, totaling Rs 99,000 over 5 years. With an annual interest rate of 6.6 percent, your investment grows steadily.
5. Withdrawal Flexibility:
The Post Office allows premature withdrawal after 1 year. If withdrawn within 1-3 years, a 2 percent deduction applies. After 3 years, there’s a 1 percent deduction upon withdrawal before maturity.
6. Opening Your Account:
To open a POMIS account, you need identification documents like Aadhaar Card, Passport, Voter’s Card, or Driving License. One passport-size photo is required, along with proof of address. You can submit these documents, along with a nominal Rs.1,000 fee, at any post office branch.