Monthly Income Scheme: Invest Rs 50,000 in post office scheme to get THIS much per month

Wondering to know what is special in the Monthly Income Scheme of the Post Office? Continue reading to know what approach you to invest in this plan.

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New Delhi: Nowadays people get paid either for doing their job or for investing somewhere. It means people get money instead of their hard work or they are making money from money. If you are also planning to make money from money, this is a good opportunity for you. You can get good profits by investing in the Monthly Income Scheme of the Post Office.

Wondering to know what is special in this government scheme? Here is what approach you to invest in this plan. This scheme also gives good returns to investors. If you want a fixed interest every month, then you can invest in the Monthly Income Scheme of the Post Office. Let's understand the whole process.

Investment amount

Under this scheme, you can deposit money in Rs 100 multiples of at least Rs 1000. If you have a single account, you can deposit money only up to Rs 4.5 lakh. On the other hand, if you have a joint account, you can deposit up to a maximum of Rs 9 lakh.

Age limit

You must be at least 18 years of age to invest in the Monthly Income Scheme.

Number of the account holder

In this account, at least one and a maximum of 3 persons can open the account simultaneously.

Maturity period

Under the monthly scheme of the post office, you can open your account for up to 5 years. You cannot withdraw money till at least 1 year after depositing money here. If you withdraw money between 1 to 3 years, you will be deducted 2% of the principal amount. On the other hand, after withdrawing it after 3-5 years, one percent of your principal amount will be deducted.

Investment plans

Under this scheme, you will get an interest of 6.6 percent every month. If you deposit Rs 50,000 rupees in your account in one go, you will get about 275 rupees every month and 3300 rupees annually. In 5 years, you will get a total of Rs 16500 as interest.