How much will be the interest? Consider the outline calculator.
Post Office Monthly Income Scheme No: Post Office Scheme is the best way of investment. Monthly interest is received in Post Office Monthly Revenue System (POMIS). How much profit can you earn by investing money in this scheme? How do I open a monthly account to benefit from this program? We will know the answers to these questions in this article.
How much interest will be charged on Korios monthly plan?
Business Office, New Delhi. Post Office Monthly Income Scheme (POMIS): If you are looking for investment schemes for assured returns, you can also invest in Post Office Schemes. In this scheme you can avail high returns without taking any risk.
Investors also get guaranteed returns under the Post Office Monthly Income Scheme (POMIS). Under this scheme you can open individual or joint account.
Apart from this, there is no recurring investment i.e. lump sum investment in this scheme. At present the annual interest rate under the scheme is 7.4 percent.
How to Open Monthly Income Account
You can open an account by going to your nearest post office. To open an account, you need to complete the KYC form and attach a copy of your PAN card.
To open a joint account, it is necessary to upload the PAN card of the other member also.
monthly income of post office
In this scheme the person gets interest every month. Interest is paid by the investor at the end of each month after the account is opened until the account is closed.
Under this scheme, interest is calculated every three months.
The duration of this scheme is 5 years.
After opening the account, the investor cannot withdraw money from it for one year.
If the investor closes the account before the third anniversary, 2 percent of the principal amount will be charged. – 1% after 3 years of account closure.
Under this scheme, you can invest up to Rs 15 lakh in one account.
Post Office Monthly Income Table Calculator
If you invest Rs 5 lakh in the post office scheme, you can earn interest of Rs 3,083 every month at an interest rate of 7.4 percent. If you do this calculation, you will get Rs 36,996 as interest in a year.
