Regular Monthly Income – Post office
Although there are many investment schemes in India, postal savings schemes are still considered as the best investment schemes. These are investment-friendly, safe, substantial returns.If that is the desire that many of us have in general, it is okay to suffer in adolescence. Must be fine at least in old age.
In addition, we think it would be better to get a pension like the monthly pension for government employees. It is seen as a security investment scheme that provides a monthly income to many, especially private employees and the self-employed.
Care for the elderly
You can earn a monthly income by investing once in the post office’s monthly income plan. It is seen as a safe investment suitable especially for the elderly. An individual can deposit a minimum of Rs 1,500 to Rs 4.5 lakh under this scheme.
Maximum investment
This plan can also be started as an individual or collective savings plan. Up to a maximum of Rs 9 lakh can be invested in a joint savings scheme. The investment made by the joint account holders will be deemed to have an equal share to them.
Interest Calculation
The monthly income plan has a maturity of 5 years. Can be extended even after maturity. The current interest rate for the Post Office’s monthly income plan is 6.6% per annum. It has no compound interest Simple interest.
Interest will be paid one month after the completion of your postal monthly income plan. Similarly this interest amount will be paid till that investment amount matures. Even if you do not take the interest amount monthly, no additional interest will be paid on the interest amount.
The interest rate is somehow at the beginning- is that the case throughout the plan? As well as the government will change the interest rate for this scheme according to the market situation but what plan are you initially offered? The same rate is available for wholeness. So do not worry if the interest rate goes down, the income goes down.
The interest earned through this scheme can be credited to your postal savings account. Or you can credit your bank account. There is an opportunity to continue the interest rate available as a series deposit scheme. So there is a chance that your investment in this project will double.
For deposits paid in excess under this scheme, interest will be paid on the basis of the normal postal savings account interest rate. Between these accounts, i.e. 1 year to 3 years, up to 2% will be deducted if closed.
If after 1 year 1% will be deducted. In this savings plan of the post office you must have a postal savings account on the Internet. The post office also has a nominee facility in this program. So you can make your family get this offer after you. Similarly the interest earned on your investment is treated as income and you have to pay tax on it. There is no tax deduction. This plan does not apply to those who think they need a tax deduction.
Your investment in this plan will double in 10.91 years. For example, if you invest Rs 1 lakh, you will get interest of Rs 550 per month.If you invest Rs 2 lakh in the same month, you will get Rs 1,100 interest per month. If you invest the same 3 lakh rupees, you will get interest of 1,650 rupees per month. If you invest the same 4 lakh rupees, you will get interest of 2,200 rupees per month. If you invest 4.5 lakh rupees, you will get interest of 2,475 rupees per month. If you invest Rs 9 lakh, you will get interest of Rs 4,950 per month.