If you are worried about regular income after retirement, then this scheme of Post Office will come in handy, you will earn ₹9,250 every month.

At the time of retirement, the elderly get a good amount as a retirement fund. But the problem is regular income because due to lack of regular income, they depend on others to fulfill their daily needs. If this is arranged, then all their own work will be done easily. This problem of the elderly can be solved by the Post Office Monthly Income Scheme.

In POMIS scheme, a lump sum amount has to be invested. Interest is earned on investment. In such a situation, your deposited amount also remains completely safe. By depositing money once in this scheme, you can arrange for regular income for 5 years and earn up to Rs 9,250 every month. The deposit amount is returned after 5 years. Although any Indian citizen can take advantage of this scheme, but it is considered a very good scheme for senior citizens.

In this scheme of Post Office, different deposit limits have been fixed for single and joint accounts. A maximum of Rs 9,00,000 can be deposited in a single account and a maximum of Rs 15,00,000 can be deposited in a joint account. In Post Office MIS, interest is given at the rate of 7.4%. Your income is decided on the basis of your deposit amount.

If you deposit Rs 9,00,000 in the account, then at the rate of 7.4% interest, you can earn up to Rs 5,550 per month. On the other hand, if you open a joint POMIS account with your wife or any family member and deposit Rs 15,00,000 in it, then you can earn a maximum of Rs 9,250 per month.

Any citizen of any country can open an MIS account. An account can also be opened in the name of a child. If the child is less than 10 years old, then his parents or legal guardians can open an account in his name. When the child is 10 years old, he can also get the right to operate the account himself. For MIS account, you must have a savings account in the post office. It is mandatory to provide Aadhaar card, PAN card for ID proof.

If you deposit once in MIS, then you arrange for earning for 5 years. There is no rule of extension in this scheme. But if you want to continue earning through this, then after maturity you can withdraw the amount and open a new account and deposit the amount again and arrange for income again for the next 5 years.