Business Desk – You might hear that Post Office Scheme is better than any other government scheme. As it offers safe investing, people usually opt for a post office scheme. But not only this there are so many popular savings schemes offered by the government such as Public Provident Fund, National Savings Certificate, Sukanya Samriddhi Yojana, Senior Citizen Savings Scheme, and more.
However, people still prefer post office schemes for investing. So, today we’re gonna talk about the Post Office Monthly Income Scheme (POMIS) through which one can earn monthly without any hassle. It is one of the popular schemes offered by the government of India. Let’s deep dive into its details
The POMIS offered by the postal service. Low-risk, attractive interest rates and a regular source of income make it the best-saving scheme nowadays.
Eligibility For POMIS
Only these people can open a Post Office Monthly Income Scheme Account:
A single adult
Joint Account (up to 3 adults)
A guardian on behalf of a minor
Person of unsound mind
A minor above 10 years in his own name.
Post Office Monthly Income Scheme Account Interest
The interest rate is 7.4 % per annum payable monthly ( April 01, 2023, to June 30, 2023)
If the interest payable every month is not claimed, in that case, interest will not get any additional interest.
Remember, no deposit is withdrawn before the expiry of 1 year from the date of the deposit.
If the account holder dies before maturity, the account may be closed and the amount will be refunded to the nominee.