Due to the growing financial insecurity, people want to invest in a place that is both safe and has a good return. If you are also looking for such an investment option, then post office monthly income plan may prove to be a better option for you. In this, the risk on investment is less and the return is better.
We are informing you about the monthly income plan of the post office. With this scheme, you can get your money back with full guarantee and interest.
Get money every month
The post office scheme earns an annual interest of 6.6 per cent. Its maturity is 5 years. That is, after 5 years you will start getting guaranteed monthly income. If you deposit Rs 4.5 lakh together, you will get Rs 29,700 per year after 5 years. If you want income every month, you will earn Rs 2475 per month.
An account will be opened for only Rs
Under Post Office Monthly Income Scheme, an account can be opened for only Rs.1000. Anyone who has completed 18 years of age can open an account. One person can open an account with a maximum of 3 account holders at a time.
Terms of the plan
One of the conditions for opening this account is that you cannot withdraw your deposit 1 year ago. On the other hand, if you withdraw it before its maturity i.e. between 3 to 5 years, 1 percent of the original amount will be refunded after deducting it. On the other hand, if you withdraw money at maturity, you will get all the benefits of the plan. Another good thing with Post Office is that it is considered one of the safest investment channels. That is why so many people believe in it.