Post office monthly income scheme -
If you are looking for guaranteed fixed monthly return then Post office monthly income scheme could be a good option for you...
It is government backed scheme, hence its a safe option...
In case of sole operated account, maximum investment allowed in POMIS is Rs. 9 lakh...
In case of joint holders (up to 3 joint holders), maximum of Rs. 15 lakh can be invested in POMIS ...
The Post Office Monthly Income Scheme interest rate 2023 (April to June 2023) is 7.4% ...
TDS is not applicable , so no tax would be deducted at source and interest earned would be taxable...
This scheme is suitable for risk-averse investors wanting to earn monthly income and not seeking equity investments...
Let me know in the comments if you find this scheme interesting and would be investing in the same...
Drop me your queries in the comments section...
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