Superhit post office plan for a husband and wife! Put money down to get ₹ 1.85 lakh in interest

 Superhit post office plan for a husband and wife! Put money down to get ₹ 1.85 lakh in interest

POMIS: Husband and wife may earn interest each month by investing in this unique post office plan. Find out here how much money you would get back from putting Rs 5 lakh into a POMIS account.

POMIS: Growing costs have the potential to swiftly empty your wallet. Under such circumstances, the Post Office's Small Savings Scheme may assist you in earning a monthly income. The unique feature of the PO program is the ability for a husband and wife to register a joint account. The government guarantees the return on investment in the post office program. Because of this, investing in it doesn't have to worry about financial loss. You may invest money in the Post Office Monthly Income Scheme (POMIS) since there is no risk involved.

You may get money each month by making deposits into POMIS. This program has a five-year maturity period and allows the opening of both single and joint accounts. We would like to advise you that as of October, there is now more interest accessible under this plan. You will now get interest at a rate of 7.4% if you invest in this plan. Be aware that the government modifies the interest earned from POMIS on a quarterly basis.

Understand this crucial point before making a POMIS investment.

The maximum amount that may be put into a single post office account under the program is Rs 9 lakh. In the event that a husband and woman register a joint account simultaneously, the maximum amount that may be deposited is Rs 15 lakh.

Following are the guidelines that apply when a husband and wife create a joint account.

Two or three persons may establish a joint account in POMIS. Each joint account holder receives an equal portion. Be aware that it is also feasible for someone to want a single account rather than a joint account.

In terms of withdrawals, you will get your money back after 2% interest is subtracted if you take money out within a period of one to three years. In addition, 1% of the deposit amount will be deducted from the amount you want to withdraw if you decide to do so after three years.

POMIS: For a Rs. 5 lakh investment, you will get this amount of interest.

Assume you put ₹ 5,00,000 into this plan. You will get interest at a rate of 7.4% annually for the next five years. In this instance, your monthly interest payment would be Rs 3,084. Your whole interest will be Rs 1,85,000 at the same time.

This implies that at the maturity of your POMIS account, you would only get interest of Rs. 1,85,000 if you invest Rs. 5 lakh for five years. Additionally, the account will continue to receive more than Rs 3,000 each month.