For those looking for a safe and reliable investment option with guaranteed monthly returns, the Post Office Monthly Income Scheme (POMIS) is a great choice. This scheme allows individuals to earn a fixed amount every month, making it ideal for retirees, salaried professionals, and those seeking financial security.
How to Get ₹11,000 Per Month?
Under POMIS, investors receive a fixed monthly payout based on their deposit amount. The scheme currently offers an interest rate of around 7.4% per annum (subject to periodic revision). To receive ₹11,000 per month, one needs to invest the maximum limit allowed in a joint account, which is ₹15 lakh. For a single account, the maximum deposit is ₹9 lakh, generating a slightly lower monthly return.
Key Features and Benefits
POMIS provides guaranteed and risk-free returns, making it an excellent alternative to market-linked investments. The maturity period is five years, after which the investor can either withdraw the principal amount or reinvest. The scheme allows premature closure after one year, though with applicable penalties. The monthly interest payout is credited directly to the investor’s savings account, ensuring hassle-free earnings.
Who Should Invest?
This scheme is best suited for retirees, low-risk investors, and individuals seeking steady passive income. It offers government-backed security, making it a preferred choice for those who prioritize safety over high returns.
How to Open a POMIS Account?
To open an account, visit the nearest post office with Aadhaar, PAN card, and a passport-size photograph. Fill out the application form and deposit the required amount. Once the account is activated, the monthly interest will start reflecting in the linked savings account.
Conclusion
For individuals seeking safe and assured monthly income, POMIS is a great option. Investing ₹15 lakh in a joint account guarantees ₹11,000 every month, providing financial stability without market risks.