If you want to get fixed income in your account every month, take advantage of this scheme today.

If you want to get fixed income in your account every month, take advantage of this scheme today.

It is also important to invest in a safe place to secure your future. Failure to do so may result in loss of money deposited by you. That is why today we are going to tell you about a scheme where investing will give you a much better return than other options. We are talking about Post Office Monthly Income Scheme Account (POMIS). This scheme will protect your deposit. With this, you can also generate a good income on it every month. So here we will know about the complete scheme.

The Post Office Monthly Income Scheme (POMIS) is one of the best investment options. Because, it has 4 big advantages. Anyone can open an account and your deposit will remain the same. You will get the best return in BEST compared to Bank FD or Debt Instrument. From which you get a certain amount every month and then on completion of the scheme you will also get your full deposit. So that you can invest in this scheme for the second time and keep it as a source of monthly income.

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Who can open an account?
You can open an account in your children’s name. If the child is under the age of 10, an account can be opened in his name by his parents or the Legal Guardian. When the child reaches the age of 10, you can also get the right to manage the account yourself. At the same time, as he gets older, he gets the responsibility himself.

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How much money will have to be withheld?

Anyone can open a monthly investment scheme account. If your account is single, you can deposit more than Rs 4.5 lakh in it. A minimum of Rs 1,000 can be deposited in it. In addition, if your account is joint, an additional Rs 9 lakh can be deposited in it. One person can open more than one account but within the limit fixed by the Post Office. In which you will not get any tax exemption on the amount deposited and the interest you will get from it. However, the post office does not deduct any TDS on your earnings, but the interest you receive monthly can be included in your taxable income on its annual total.

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Find out how much you will earn each month.
The monthly interest under the income scheme is 6.6 per cent per annum. This annual interest is sold for 12 months, which you continue to receive on a monthly basis. If you have deposited Rs 9 lakh, your annual interest will be approximately Rs 59,400. For this purpose, you will earn about Rs 4,950 per month. You will get Rs 4,950 per month, plus you will get back Rs 9 lakh after maturity by adding some extra bonus. If the money is not withdrawn every month, it will be in your post office savings account and you will get further interest by adding this amount along with the principal amount.

In how many years will it be completed?
The maturity period for the scheme is 5 years. After 5 years you can reinvest your capital in this plan.

How to open an account?
You can open an account at any post office at your convenience. For this you have to submit photocopy of any one of Aadhar Card, Water ID, PAN Card, Ration Card, Driving License. Apart from this, proof of address has to be submitted, in which your identity card can also come in handy. Apart from this you will also have to submit 2 passport size photos

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Investing In These 6 Places Including PM Vay Vandana Yojana And Monthly Income Scheme Will Be More Beneficial.

Safe Investment For Senior Citizens: Investing In These 6 Places Including PM Vay Vandana Yojana And Monthly Income Scheme Will Be More Beneficial.

SBI, ICICI and HDFC Bank are running special FDs for senior citizens

It would also be appropriate to invest in a Post Office Senior Citizen Savings Scheme

Senior citizens can invest in Pradhan Mantri Vay Vandana Yojana, Post Office Senior Citizen Savings Scheme, Monthly Income Scheme and special FDs for senior citizens for safe investment and good returns. We are telling you about these plans so that you can invest in them as per your need.

Pradhan Mantri Vay Vandana Yojana Will Get A Pension Of Rs 9,250

You can invest in the Pradhan Mantri Vay Vandana Yojana launched by the Central Government for senior citizens.

You can invest in this plan till March 31, 2023. It is a pension scheme for citizens 60 years and above.

The benefit of this scheme can be availed by paying a lump sum. Payment will be made every year at the rate of 7.40 per cent. It can also be paid monthly.

If you don't take money every month, it becomes equal to 7.66 percent annually. A maximum of Rs 15 lakh can be invested in this scheme.

At Rs 15 lakh, you will get a pension of Rs 9,250 per year.

The Post Office Senior Citizen Savings Scheme is earning 7.4% interest

If you want to get good interest on the deposit, you can invest in the Post Office Senior Citizen Savings Scheme.

In this scheme you will get 7.4 per cent interest. This means that the scheme earns more interest than the bank's fixed deposit.

People 60 years of age or older can open an account here. The person taking VRS can also open an account if he is above 55 years of age but under 60 years of age.

If you invest Rs 15 lakh in a Senior Citizen Scheme for 5 years, you will get Rs 2,164,272 after 5 years at an interest rate of 7.4 per cent per annum. That means you will get Rs 664,272 as interest.

The Post Office Monthly Income Scheme Is Earning 6.6% Interest

It is offering 6.6% interest. Under this scheme, the account can be opened with a minimum of Rs.1000.

The special thing is that you will get all your money back after the completion of the scheme. This means that you can be guaranteed a regular income from this account.

If your account is single, you can deposit up to Rs 4.5 lakh. Also, if you have a joint account, you can deposit up to a maximum of Rs 9 lakh. The maturity period is 5 years.

If you invest Rs 4.5 lakh under this scheme, you will now get Rs 29,700 per annum at an annual interest rate of 6.6.

Also, if you invest Rs 9 lakh in a joint account, you will get 59,400 years of interest.

Special fixed deposit schemes are also getting higher interest

HDFC Bank's Senior Citizen Care Scheme

HDFC Bank has launched a scheme called 'Senior Citizen Care FD' for senior citizens.

According to the bank, a senior citizen will get 0.75 per cent more interest on FDs of more than 5 years and 10 years duration than the average consumer.

The 5-year deposit will earn 0.50 per cent higher interest than others.

At present, HDFC Bank is offering a maximum interest rate of 5.50 per cent on fixed deposits. A maximum annual interest of 6.25 per cent will be earned on investing in this scheme.

It can be invested till March 31, 2021.

ICICI Bank's Golden Years FD Scheme

ICICI Bank has now launched a special fixed deposit scheme for senior citizens called Golden Years FD.

Investing in this scheme will earn 0.80% more interest than normal FD.

ICICI Bank is currently earning the highest interest rate of 5.50% on FDs of more than 5 years and up to 10 years.

That is, senior citizens will now get maximum 6.30% interest under this scheme.

The scheme will be applicable on deposits of up to Rs 2 crore for 5 years, 1 day to 10 years. This scheme will be applicable for renewal of old FD along with new FD.

Credit cards can also be taken if ICICI Bank has done Golden Years FD.

You can invest in it until March 31, 2021.

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SBI Also Launched A New Scheme

State Bank of India (SBI) has recently launched a new deposit scheme for senior citizens called SBI Wicker. Senior citizens will get more interest in this scheme.

The scheme has been launched under the Retail Term Deposit segment. In this scheme, senior citizens will get 0.80% more interest than the normal FD.

SBI is currently offering a maximum interest of 5.40% on fixed deposits. That is, investing under this scheme will earn 6.20% interest.

You can invest in it until March 31, 2021.

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