Post Office Monthly Income Scheme: Interested in investing in a small savings scheme? Post Office schemes can be very advantageous. Your money stays safe, and there is no risk of any kind involved.
In fact, we’re talking about the Post Office Monthly Income Scheme, which provides monthly returns to investors. Let’s delve into how you can benefit from investing in this scheme.
Everyone needs money to live a comfortable life. Some people start businesses while others engage in different types of work. However, imagine if we told you that you can earn money every month from the comfort of your home.
You won’t have to put in any effort at all. In such a scenario, this scheme from the Post Office can be extremely beneficial to you. After investing in this scheme, you will receive monthly returns in the form of interest.
Providing you with the information, investors in the Post Office Monthly Income Scheme receive interest at a rate of 7.4 percent. The interest rate in this scheme is deposited into your account every month.
The Post Office Monthly Scheme offers easy investment options. You can initiate your investment with a minimum deposit of 1,000 rupees. For individual accounts, deposits can go up to a maximum of 9 lakh rupees, while joint account holders can deposit up to 15 lakh rupees.
Individuals above the age of 18, regardless of their nationality, can open an account in this scheme if they wish to apply. Minors, individuals below 18 years of age, can have their accounts opened by their parents in their names.
To open an account, the applicant will need to visit the nearest post office branch. Subsequently, they will be required to fill out the form for the Monthly Income Scheme (MIS). Following this step, all requested information along with necessary documents must be submitted at the post office.
