India Post has over 1.5 lakh post offices across the country. It has various financial services besides postal service. Each service has its own set of interest rates.
This plan can be fully understood by knowing the top five information about the monthly income plan offered by India Post. Here are those 5 information.
This plan is for those who want to save less money. According to the Indian Postal Service, a maximum of Rs 4.5 lakh in individual accounts and a maximum of Rs 9 lakh in joint accounts will be covered under the scheme.
The annual interest rate for this plan is 6.6 percent.
We can receive the money 5 years after opening the account.
As there is no DTS in this scheme, the benefits available under Section 80C are not available. There is also a tax on interest earned on it.
It will greatly help middle class people to join this project. Many have now lost their jobs in harsh environments such as the Corona. And many companies have halved the salaries of their employees. Thus losing income and having to struggle even for daily necessities.
Curfew also paralyzed various industries. Merchants were unable to open shops. In such a crisis people understood the need for savings. Savings in banks is a complex one. The monthly income scheme offered by the Indian Postal Service is also very helpful to those who collect less money.
The Indian Postal Service has not only a monthly income plan but also several savings plans. These include Post Office Savings Account (POSO), 5 year Post Office Continuous Deposit Account (RD), Post Office Time Deposit Account (TD), Post Office Monthly Income Plan Account (MIS), Senior Citizens Savings Plan (SCSS). Has plans.
You can select the plan at your convenience and start a savings account and save. Further details can be obtained from the Indian Postal Service website or the Post Office.
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