If you want to arrange income for yourself every month, then the National Savings Monthly Income Account of the post office will be right. Currently, 7.4% annual interest is being received in this scheme. Through this, you can arrange for yourself an income of Rs 9,250 every month. We are telling you about this scheme, so that you too can arrange monthly income for yourself by investing in it.
It is getting 7.4% annual interest. The annual interest is divided into 12 months and you get that amount every month. If you do not withdraw the monthly money, it will remain in your post office savings account and you will get further interest by adding this money along with the principal amount.
Suppose if you invest 9 lakh rupees in this scheme, then now you will get interest of 66 thousand 600 rupees annually according to the interest of 7.4% per annum. On the other hand, if you invest 15 lakh in it under a joint account, then you will get an annual interest of 1 lakh 11 thousand rupees. If you divide it equally in 12 months, you will get Rs 9,250 per month. If the return is not withdrawn, interest is earned on that too.
Note: This calculation is approximate. The government reviews the interest rate on small savings schemes every three months.
Its maturity period is 5 years. That is, on completion of the scheme, you will get back your entire deposited capital. However, if you wish, you can maintain a source of monthly income by reinvesting this money in the same scheme.
This account can also be opened in the name of a minor and joint account in the name of 3 adults. An account can also be opened in the name of a minor above 10 years of age under the supervision of parents.
The central government has made PAN and Aadhar card mandatory for investing in post office savings schemes including PPF, Sukanya Samriddhi and National Savings Monthly Income Account. From now on, it will be necessary to use Aadhaar number or Aadhaar enrollment slip to open an account in government schemes.
As per the new rule, PAN and Aadhaar have to be submitted compulsorily. If the person wants to invest in these schemes but does not have an Aadhaar number then he can submit the enrollment slip. After 6 months, the account holder will have to compulsorily submit the Aadhaar number. If the person fails to submit the Aadhaar number, then the investment made by him will be frozen and will be resumed only after the Aadhaar number is received.
For this, first of all, a savings account has to be opened in the post office.
After this, a form will have to be filled for National Savings Monthly Income Account from the post office.
Deposit cash or check for the specified amount along with the form to open the account.
After this your account will open.