Applying the post office in this scheme will earn money every month, a large income

Applying the post office in this scheme will earn money every month, a large income

If you are planning to save money in the new year, a special post of post office can prove to be safe and rewarding. Your deposit in the post office can be safe. With this you will also get good income every month from this scheme. This scheme is good for all those who want to make extra income on their deposits or have no regular income earning resources. That is, this plan is a work for both of these classes. This scheme will earn you a monthly income and will also keep your full deposit money safe. This plan can help you throughout life. Let's learn more about this ...

What is this scheme?

Investment in the post office's monthly investment plan, ie POISM. This is a government scheme in which once the money is invested, there is a fixed income per month. Experts believe this scheme is one of the best investment options, because there are 4 major benefits. Anyone can open and your deposit is always maintained. You get more returns than a bank FD or debt tool. This gives you specific income and then you get your deposit when the scheme is completed. You can create a monthly income pool by investing in this scheme.

Who can open the account?

You can also open an account in the name of your child. If a child is less than 10 years old then his parents or Legal Guardian can be opened in his name. Once the child is 10 years old, he himself can get the right to manage an account. After 18 years, he gets the responsibility to manage this account.

How much money do you have to stop?

Can open any account for a monthly investment plan. If your account is single, then you can deposit up to a maximum of 4.5 lakh and at least 1500 can be deposited. If you have a joint account, you can deposit up to 9 lakhs in it. A person can open accounts in more than one account, but according to the limit set by the post office.

Tact on interest will not be exempt

There is no tax benefit on the amount deposited in this account and on interest you get. However, there is no TDS deduction on the amount you earn from this scheme by the Post Office. But the annual income you receive as a monthly income is included in your taxable income.

How much will income per month?

7.3% interest is received annually on the basis of investment plan per month. The interest of this year is divided into 12 months. Which you get on a monthly basis. If you have deposited Rs 9 lakh then your annual interest will be Rs 65700. In this sense, you earn 5500 rupees per month. After adding some more bonus after maturity, your 9 lakh rupees will be refunded.

If you do not withdraw money every month ...

If you do not take money every month, it will remain in your post office savings account and you will be given this amount by adding it with the original amount. The maturity date for the plan is 5 years. After 5 years you can invest your capital again in this scheme.