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- post office interest; Explanation of monthly income account features for national savings
New Delhi22 hours ago
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If you want to arrange a monthly income for yourself or your parents, then the Post Office National Monthly Income Savings Account can help you. Currently, this plan offers an annual interest rate of 7.4%. Through this you can arrange yourself an income of Rs 9,250 every month. We tell you about this program…
You will get Rs 9,250 every month
In this plan, the annual interest is spread over 12 months and you continue to receive this amount every month. If you do not withdraw the money every month, it will remain in your postal savings account and you will earn additional interest by adding this money along with the principal amount.
Suppose if you are in this program If you invest 9 lakh rupees, now you will get an interest of 66 thousand 600 rupees per year at the rate of 7.4% per annum. Whereas if you invest Rs 15 lakh in it in a joint account, you will get an annual interest of Rs 1 lakh 11 thousand. If you divide it equally over 12 months, you will get Rs 9,250 every month. If the repayments do not continue then interest is received on that as well.
Note: This calculation is done approx. The government reviews the interest rate on small savings plans every 3 months.
You will get the deposited money back after 5 years
Its maturity period is 5 years. This means that after completing the program, you will get your entire deposit back. However, if you wish, you can maintain this monthly source of income by investing this money again in the same plan.
Who can open an account?
This account can be opened in the name of a minor and a joint account can also be opened in the name of 3 adults. An account can also be opened in the name of a minor over the age of 10 under parental supervision.
Aadhar-PAN is required to open an account
The central government has made PAN and Aadhar card mandatory for investment in post office savings schemes including PPF, Sukanya Samriddhi and National Monthly Income Savings Account. Henceforth, it will be necessary to provide the Aadhaar number or Aadhaar enrollment slip to open an account in government schemes.
How can you open an account with it?
- For this, first of all, you need to open a savings account at the post office.
- You must fill out a form for a National Savings monthly income account.
- Deposit cash or check for the specified amount along with the account opening form.
- After that your account will be opened. Click here for more information
