The Post Office Monthly Income Scheme (POMIS) is a scheme in which you deposit money once and receive a fixed amount of interest every month. This scheme is run by the government, so your investment is secure. You can open it individually or jointly with your spouse.

An account can be opened with a minimum of ₹1,000. You can invest up to ₹9 lakh in a single account and up to ₹15 lakh in a joint account. Joint accounts are especially good options for married couples, allowing them to plan for their future together.

This scheme currently offers an annual interest rate of 7.4%. This interest is credited to your account every month as income. The maturity period is 5 years, but you can extend it further at a new interest rate. This way, your earnings continue for a longer period.

If you deposit ₹15 lakh in a joint account, you will receive approximately ₹9,250 per month. If you deposit ₹9 lakh alone, you will earn approximately ₹5,550 per month. This is a stable and risk-free source of income.

If your children are over 10 years old, you can also open a Monthly Income Scheme account in their name. This will provide you with a fixed amount of money each month for your child's fees or other expenses. This scheme can be a good financial support for your family.

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