- By Aditya Pratap Singh
- Thu, 30 Nov 2023 03:57 PM (IST)
- Source:JND
Our elders always advise us that It is not the earning but the saving that matters. We need to ensure that we save a decent chunk of our salary or earnings to remain financially strong.
Nowadays there are a bunch of investment options available out there. We all must set a financial goal that we want to achieve through investment.
Many people start saving for their retirement and a lot of them look for a risk-free investment option. For them, investment in the Post Office Monthly Income Scheme can be a good option. In this article, we are going to tell you about post office schemes, which provide monthly earnings.
Post Office Saving Scheme
Post Office Monthly Income Scheme can be a better investment option to get a fixed income for a fixed period of time. This is a risk-free investment option, the ups and downs in the market does not affect the return.
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Post office monthly scheme investment tenure
This is one of the risk-free investments with higher returns Investing for five years can be beneficial. An investor can invest a minimum of Rs 1,000 and a maximum of Rs 9 lakh in a single account. A maximum of Rs 15 lakh can be deposited in a joint account.
What is the interest rate on post office monthly scheme?
Investors are getting an annual interest of 7.4 percent. The interest earned on the investment can be claimed monthly. If you do not want money every month, the money will remain deposited in your account and you receive interest on it every month.
Method to earn 9000 every month
You will have to open a joint account with a deposit of Rs 15 lakh. So the interest you will get will be Rs 1.11 lakh. By dividing this over 12 months, a return of Rs 9,250 can be earned every month.
