Post Office Monthly Scheme: Indian Post Office provides the facility of Monthly Income Scheme (POMIS) to all its customers. Through this scheme, the post office gives its investors an opportunity to earn a certain amount every month. The rate of interest of this scheme is decided by the government from time to time. This is one of the lowest risk post office plans. Now its rate of interest is 6.6%.
Under this scheme, according to the amount deposited by you, you get money every month. If you want, you can open a single or joint account under this scheme. This scheme can be extended further for 5 years as per the requirement of the investor. Let us tell you that due to the scheme of the Indian Post Office, it is completely risk free and its full guarantee is taken by the government-run post office. So let us tell you about this complete scheme-
Eligibility for the scheme
Any Indian citizen who is above 10 years is eligible for this scheme.
How much can I invest in this scheme
Under Post Office Monthly Income, you can open your account with a small amount of 1000 rupees. Later on you can increase the amount as per the need. With this, you can deposit up to Rs 4.5 lakh in a single account, while the facility has been given to invest Rs 9 lakh in a joint account. Let us tell you that every month the fixed amount is available at the end of the month.
How to open account?
For this you have to go to any post office near your home.
There you can show ID proof such as Aadhar card, passport, voter card or driving license.
Along with this you will also need two passport size photographs.
Some kind of utility bill will be required for Address Proof.
After this you fill the form of Post Office Monthly Income Scheme.
You can also download it online if you want.
After filling the form, give the name of the nominee.
After this deposit at least 1000 rupees.