Double your Money in 5 Years with Post Office MIS
New Delhi : The Post Office Monthly Income Scheme (POMIS) continues to be a preferred investment option among individuals of all age groups, thanks to its guarantee of fixed income.
This government-backed scheme deposits money into the investor’s savings account every month.
This ensures a steady and reliable source of earnings for Investors.
Maximize your Profits
One of the key advantages of the Post Office Monthly Income Scheme is the assurance of monthly returns.
You can further increase your earnings by utilizing the interest received each month through the Monthly Income Plan.
By opening a Recurring Deposit (RD) with the interest earned, you can enjoy double the benefits.
The RD interest of 6.9% is compounded quarterly, which means you earn interest on interest.
Let’s consider an example:
If you invest Rs 4.5 lakh in the Post Office Monthly Scheme, you not only receive interest under this scheme upon maturity but also earn interest on your Recurring Deposit investment, resulting in double the returns.
Post Office MIS Calculator
To illustrate the potential returns, let’s take a hypothetical investment of Rs 5 lakh:
Principal Investment: Rs 5,00,000
Monthly Interest (compounded): Rs 3,083
Investment Period: 60 months (5 years)
Total Earnings Calculation:
5,00,000 (Principal) + [3,083 (Monthly Interest) x 60 (Months)] = Rs 6,84,980
Additionally, the Interest on Recurring Deposit for 60 months (at a 6.9% interest rate) amounts to:
3,083 (Monthly RD Interest) x 60 (Months) = Rs 1,84,980
Therefore, the total earnings from the interest and Recurring Deposit are:
1,84,980 (RD Earnings) + 36,204 (Earnings from interest) = Rs 2,21,184
By taking advantage of the Post Office Monthly Income Scheme and utilizing the Recurring Deposit feature, you have the potential to double your investment in just 5 months.
Next Story :
-
Two Days Of Rain In Telangana: Orange Alert
![Two Days Of Rain In Telangana: Orange Alert]()
Hyderabad, April 27 (Maxim News): The Meteorological Department has said that there is a possibility of light to moderate rains in the state for two days. It has warned that the impact of gusty winds will be severe.
-
Kaleshwaram Case: ENC Hari Ram Remanded For 14 Days
![Kaleshwaram Case: ENC Hari Ram Remanded For 14 Days]()
Hyderabad, April 27 (Maxim News): The ACB investigation at the house of Kaleshwaram Project Engineering Chief ENC Hari Ram has concluded. Later, the police produced him before the judge at midnight. The judge who conducted the investigation ordered a 14 day remand.
-
Collector’s Wife Chooses Government Hospital For Delivery In Peddapalli
![Collector’s Wife Chooses Government Hospital For Delivery In Peddapalli]()
Peddapalli/Hyderabad, April 27 (Maxim News): Collector Koya Sree Harsha’s wife Vijaya gave birth to a baby boy in Godavarikhani government Hospital on Sunday.
-
130 Nuclear Bombs To Attack India: Pakistani Minister Hanif Abbasi
![130 Nuclear Bombs To Attack India: Pakistani Minister Hanif Abbasi]()
Pakistan/Internet Desk/Hyderabad, April 27 (Maxim News): Pakistan Minister Hanif Abbasi has made public threats that 130 nuclear bombs are ready to attack India. He said that in addition to these, there are also Ghori, Shaheen, and Ghaznavi missiles. He warned that if India stops the Indus waters, it should be ready for a full-scale war.…
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page and Twitter and Instagram. For all the latest Hyderabad News updates
