Looking for a safe and reliable way to earn steady income every month? The Post Office Monthly Income Scheme (POMIS) is a fantastic government-backed investment plan that makes it easy for anyone—whether you are young or retired—to earn a fixed monthly income while keeping your principal 100% secure.What Is the Post Office Monthly Income Scheme?POMIS allows you to invest a lump sum amount for a tenure of 5 years, and in return, you receive guaranteed monthly interest payments. The principal amount is returned in full at the end of the term. This scheme is especially popular among retirees and conservative investors who want a hassle-free, secure source of monthly income without market risks.How Does It Work?One-time deposit: You deposit a one-time lump sum amount.Monthly interest payout: Earn interest every month credited directly to your account.Term: 5 years, with the option to extend in 5-year increments.Interest rate: Currently, the scheme offers a steady interest rate of 7.4% per annum (as of early 2025).Investment LimitsYou can open a single account with a maximum deposit of Rs 9 lakh.If opting for a joint account (for example, with your spouse), you can invest up to Rs 15 lakh.Minimum deposit to open an account is Rs 1,000, and further deposits should be in multiples of Rs 1,000.How Much Can You Earn?For instance, if you deposit Rs 10 lakh in a joint POMIS account, you can earn around Rs 6,167 per month or Rs 74,004 annually as a fixed income. This amount is credited every month to your linked post office savings account, providing a steady cash flow.Why Choose POMIS?Safety: Your money is fully secured by the Government of India, making it risk-free.Guaranteed returns: No market fluctuations affect your earnings.Flexibility: You can open accounts for yourself, your spouse, or even minors (with a guardian).Easy to start: Just visit your nearest post office with your Aadhaar card and savings account information.Withdrawal options: Premature withdrawals are allowed but subject to certain deduction rules (e.g., 2% penalty if withdrawn within 1 year).Ideal ForRetirees with no regular income source.Anyone seeking a safe, fixed monthly income.Parents wanting to open accounts for their children.
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