Department of Posts details Post Office Monthly Income Scheme
1 report, 1 independent
Updated Sep 28
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What happened
The Department of Posts operates the Post Office Monthly Income Scheme, a government-backed savings product designed for fixed monthly earnings. The scheme currently offers a 7.4 percent annual interest rate, credited monthly. A single account holder may invest up to Rs 9 lakh, while a joint account allows for an investment ceiling of Rs 15 lakh.
From newsx.com
Why it matters
The scheme provides a fixed-income option for investors seeking stability outside of market fluctuations. The government reviews the interest rate quarterly, meaning future payouts could differ from the current figures. The income continues throughout the five-year term.
From newsx.com