Post Office Monthly Income Scheme: Earn Rs 9,000 Monthly Safely
Everyone desires a monthly income after retirement. Various investment plans are available for this purpose. Let's explore one such excellent investment scheme.
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Stable Income without Risk
While banks are reducing interest rates, post office schemes offer stable returns. Even with RBI's repo rate cuts affecting bank savings accounts, post office schemes remain unchanged, attracting investors.
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Monthly Income Scheme Feature
Post office's Monthly Income Scheme offers a steady monthly income. A lump-sum investment earns interest credited monthly to your savings account. The scheme matures in 5 years, returning the principal.
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Investment Limit
Invest up to Rs 9 lakhs individually or Rs 15 lakhs jointly. Higher investments yield better monthly returns.
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Interest Rate and Profit
The MIS interest rate is 7.4% annually. A Rs 15 lakh joint investment yields around Rs 9,250 monthly, exceeding bank returns.
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Why is it safe?
Backed by the Indian government, this scheme ensures secure investments with fixed monthly returns. Ideal for retirees, homemakers, and those seeking a stable income.
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