Post office is giving extra earning opportunity, more than salary every month.

The problem faced by the employers is that they get salary on the first date and by the 10th the full salary is gone. Pockets become empty while calculating milkman’s account, kitchen ration, children’s fees, house rent etc. Every 20 days of the month are spent waiting for the first date. So any working person is always looking for additional income. For this he also invests here and there. In this article, we are talking about one such scheme that will provide relief to those waiting for the first date and provide extra income in the middle of the month.

Although there are many post office savings schemes, a monthly income scheme is a scheme that provides income to the investor every month. Income every month and that too with guarantee. In the Post Office Monthly Income Scheme, you can open a joint account alone or with your spouse. In this scheme, you can get a fixed amount every month by making a lump sum deposit.

Monthly income
If you open a single account in the Post Office Monthly Income Scheme, you can deposit a maximum of Rs 9 lakh and in a joint account, you can deposit a maximum of Rs 15 lakh. This amount is accumulated for at least 5 years. You earn income every month from the interest earned on your deposits. If you open this account with your spouse and deposit Rs 15 lakh, you can earn an additional income of up to Rs 9,250 per month. An interest of Rs 5500 per month is available on a deposit of Rs 9 lakh.

Interest at the rate of 7.4 percent
Currently, Post Office Monthly Income Scheme is paying interest at the rate of 7.4%. Any citizen can open an account in this scheme. You can also open an account in the name of the child. A maximum of three people can join a joint account. To open a post office monthly income account, you have to submit your home address, photo ID card, Aadhaar card and PAN card and two passport size photographs along with the form at the nearest post office.

An increase of only Rs 1 in 30 years, how come Parle G is getting Rs 5 even today, is there any scam behind it?

Premature withdrawal
Although the post office monthly income scheme is credited for 5 years, if you want to withdraw money on time due to any need, you can withdraw your money only after one year of opening the account. In this you have to pay some fee. If the money is withdrawn within one to three years, 2% of the total deposit is deducted. A one percent fee is charged on withdrawals after three years and before five years. After 5 years at maturity, you get your entire amount back. If you don’t want to withdraw your money even on maturity, you can re-deposit it for next 5 years.

Tags: business news, How to make money, Investment Tips, Post Office MIS