Turn Rs 15 Lakh Into Steady Pension-Like Earnings with This Safe Savings Scheme
Post Office: Many people dream of a steady income. This is especially true for those who want a stable income after retirement. For them, the Post Office Monthly Income Scheme is a great option.
What's the current interest rate?
The current annual interest rate is 7.40%, reviewed quarterly. Min investment is Rs. 1,000, max is Rs. 9 lakhs (single) or Rs. 15 lakhs (joint). Interest is paid monthly.
5-year term
This scheme has a 5-year term. You get monthly interest for five years. After maturity, your principal is returned. It's a low-risk investment with a government guarantee.
How to get Rs. 5,550 per month?
Your interest depends on the investment. Investing Rs. 4 lakhs gets you about Rs. 2,467 monthly. The max single investment of Rs. 9 lakhs yields Rs. 5,550 monthly at 7.40%.
To get Rs. 9,250 per month...
Invest up to Rs. 15 lakhs in a joint account to earn about Rs. 9,250 monthly (nearly Rs. 10k) at 7.40% interest. The principal is returned after the 5-year term.
Who is this scheme suitable for?
This is a great option for retirees, safe investors, and anyone wanting steady monthly income while avoiding market risks. POMIS offers security and a reliable income stream.
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