Amazing scheme of POST OFFICE: Pay Rs 2 lakh and get Rs 13200 for lifetime

Post Office Monthly Income Scheme (POMIS) is a powerful scheme offered by Post Office. In this plan, you can invest a fixed amount and get fixed interest that you will get every month. This plan will be very useful to get guaranteed income every month to meet your small needs. It can be used to earn extra income along with your monthly salary. Senior citizens usually invest in Senior Citizen Savings Scheme (SCSS), as both have the same lock-in period but SCSS offers better interest. But POMIS is better for ordinary citizens.

What is the interest rate?
The POMIS interest rate is currently 6.6 percent per annum, payable monthly. Interest will be taxed on the amount in your hand. The minimum investment you can invest in this scheme is Rs. 1000 while the limit is Rs. 4.5 lakhs.

How to invest 9 lakhs
In case of joint account, the maximum investment limit will be Rs 9 lakh. You can earn interest on Post Office Savings Account through Auto Credit. The lock-in period of POMIS is 5 years, and you cannot withdraw your deposits before 1 year.

This way you will get 13200 lifetime
You get interest on the money you invest in this scheme till maturity and the investment amount is paid on maturity. The good thing is that you can reinvest your investment amount on maturity in the same scheme if you wish. Now if you invest Rs 2 lakh in this scheme, you will get Rs 1100 per month, which is Rs 13200 in a year. You can get Rs.13200 per year for a period of 5 years. Then every time on maturity this Rs. Keep investing 2 lakhs. You can spend a total of Rs. 13200 can get interest. Yes, the interest amount can be more or less if the interest rate increases or decreases. The interest rate of each Post Office scheme is reviewed every three months. Then they can be increased or decreased.

Know the important rules
If the account is closed after 1 year and before 3 years, 2% of your original investment amount will be deducted and the remaining amount will be paid. If you close the account after 3 years and before 5 years, you will face a deduction of 1% of your principal amount and the remaining amount will be paid.

Apply online
Opening an account for Post Office Monthly Income Scheme is a simple process. You don’t need to go to post office to apply for this scheme. The form for the same scheme is available online on the official website of the post office

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