By Admin 
Post Office Monthly Income Scheme: Indian investors keep looking for good options for saving as well as investing. If you are looking for a scheme to provide a fixed income during employment or after retirement, then you must know about the Post Office Monthly Income Scheme.
Like many good investment options, it gives you a guaranteed interest return of 7.4 percent per annum. Besides, your money also remains safe in this scheme. Once you invest money in this scheme, you continue to get a fixed income every month for the next 5 years.
Special features of Post Office Monthly Income Scheme
Post Office Monthly Scheme is also known as National Saving Monthly Income Scheme. This is a small savings scheme of the government. It has been specially designed for retired people. Those who want good returns on their investment without taking any kind of risk. This scheme works just like a fixed deposit. However, in this, investors are given interest amount every month.
You can start this scheme with a minimum amount of Rs 1000. You can deposit a maximum of Rs 9 lakh in a single account and Rs 15 lakh for a joint account. For example, if you deposit Rs 9 lakh in lump sum, then every month Rs 5,550 will come to your account as interest. Also, if you deposit Rs 15 lakh, you will get an income of Rs 9,250 every month.
How to start?
To start the National Saving Monthly Income Scheme, first open a savings account in your nearest post office. After this the form of National Saving Monthly Income Scheme will have to be filled. While submitting the form, you can deposit your amount in the form of cash or cheque.
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