Post Office Scheme: Invest in THIS plan to get assured month-to-month earnings | Personal Finance News

New Delhi: Post Office affords varied safe schemes offering spectacular returns to buyers. Many in India belief the government-run division on the subject of saving cash for his or her future, particularly retirement.

In one such scheme referred to as Post Office Monthly Income Scheme (MIS), buyers have a possibility to obtain a pension each month. The coverage is a small financial savings funding scheme that gives spectacular returns for buyers, together with assured month-to-month earnings.

The Post Office scheme is greatest fitted to conventional buyers and senior residents who require a hard and fast month-to-month earnings on their investments. Investors can open an account in Post Office Monthly Income Scheme with a minimal funding. For occasion, an investor can open an account in MIS coverage by investing a minimal of Rs 1,000.

The scheme is a low-risk funding possibility. Investors can put their cash within the scheme for a tenure of 5 years. However, you possibly can proceed investing within the scheme should you want to. You can enhance the funding quantity within the coverage.

Post Office is presently providing an rate of interest of 6.6 per cent every year on the Post Office Monthly Income Scheme. The rate of interest is best than a number of mounted deposits with comparable maturity intervals.

The undeniable fact that the funding possibility is non-linked to markets makes it a safe and low-risk possibility, ideally most well-liked by senior residents. The scheme can also be backed by the federal government, that means that you’ll proceed receiving the advantages until the time of maturity. Also Read: Gold Price Today, March 10: Gold value tumbles to Rs 992; proper time to take a position?

However, a undeniable fact that makes the funding scheme unattractive for a lot of is that the investments are subjected to taxation. Also, buyers can’t obtain tax advantages underneath Section 80C of the Income Tax Act. Also Read: Ebixcash IPO: Company information draft paper with SEBI for Rs 6000 crore

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