This scheme of Post office gives monthly returns!!
Those investing in this scheme of Post office will get monthly returns, which can be good news for investors. Even though the attraction of youth has increased towards the share market, but even today people consider Post office as the safest means of investment. This is the reason why the post office keeps on bringing new best schemes for the people. One such scheme is linked to monthly income. Its most important thing is that you get a fixed amount of interest every month.
When does the policy mature?
Talking about the monthly scheme of the Post office, investors can open an account in this for up to 5 years. On the other hand, talking about the conditions, you cannot withdraw money until at least 1 year after depositing money here. If you withdraw money between 1 to 3 years, you will be deducted 2% from the principal amount. On the other hand, on the withdrawal of money after 3-5 years, one percent of your principal amount will be deducted.
Under this scheme of the same post office, you can deposit money in at least 100 multiples of 1000. If you have a single account, then you can deposit money only up to Rs 4.5 lakh. On the other hand, if you have a joint account, then you can deposit up to a maximum of Rs 9 lakh.
How much interest will you get?
On the other hand, if we talk about the age limit in this scheme, then the age of the investors should be at least 18 years. In this account, at least one and a maximum of 3 persons can open the account simultaneously. On the other hand, if you talk about returns, if you deposit Rs 50,000 in this account at a time, then you will get about Rs 275 every month and Rs 3,300 annually. In 5 years, you will get a total of Rs 16,500 as interest. Whereas your basic of this money
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