Retirement Ki Tension? This Post Office Scheme Will Give You Monthly Income After Retirement

Looking for a reliable income after retirement? Check out the Post Office Monthly Income Scheme, a secure government-backed option for people wanting a fixed income source after retirement. With good returns and the trust of government support, it’s a safe choice for your investment.

Post Office Scheme Will Give You Monthly Income After Retirement

Post Office Monthly Income Scheme for Post Retirement

Unlocking financial possibilities, the Post Office Monthly Income Scheme invites you to invest a lump sum, paving the way for a steady monthly pension. Your reliable income source is cultivated from the accrued interest on your deposited sum, ensuring financial tranquility on your terms.

Current Interest on Scheme

With an attractive interest rate standing at 7.4 percent, this initiative opens doors to the prospect of enjoying a monthly pension of Rs 9,250, adding a touch of financial assurance to your future.

For Joint Account

Whether you go solo or team up with your spouse, this scheme ensures a safe investment, letting you withdraw the principal amount when the maturity period is over.

Extending Maturity Period

You can choose to continue the program for five more years.

If you’re thinking about a joint account with your spouse, the program lets you invest up to Rs 15 lakh, earning an annual interest of Rs 1,11,000.

Premature Closure

You can close your investment early if needed. After one year from the deposit, you can make partial withdrawals, but keep in mind there’s a deduction of 1 to 2 percent depending on when you withdraw.

Also read:

Big news! Pension New Order: Submit This Number Is Compulsory During Submitting Life Certificate, Otherwise Pension Will Be Stopped

Three Main Benefits of Post Office Investment Schemes

  • Easy to Invest

Investing in these schemes is easy. With just a few documents, you can follow simple steps at your local post office. The government backing adds credibility to these secure investments that offer guaranteed returns.

  • Long Term Benefits

These can be great for retirement or pensions, extending up to 15 years if you have a public provident fund (PPF). Adding them to your investments gives you a mix and the security of fixed returns.

  • Risk Free Investment

Post office savings schemes offer interest rates from 4% to 8%, making them risk-free and quite competitive with banks. The government’s regulation adds an extra layer of security, minimizing any potential risks.

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Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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