Post Office Monthly Income Scheme
For many of the monthly income schemes available in the market, you must wait for decades to start getting income. They are just meant for retirement stage.
But, post office monthly income scheme is best suitable for people who are looking for passive income immediately after 5years. So, it is applicable for everyone.
Below are some of the features of post office monthly income scheme :
Features / Advantages of post office monthly income scheme
- Rate of interest is 8.4 %
- Maturity period is 5 years
- Facility to change post office branch is also available
- Nomination facility is also available. You can change the nominee name if you wish to, after opening the account
- You can invest only in the denominations of 1500 rupees. Like, 1500, 3000, 4500,etc..
- Maximum investment limit is 4.5 lakhs. If it is a joint account, you can go for up to 9 lakhs.
This is one of the safest options available in the market to get monthly income within a short period of time.