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Setting Up a Guaranteed Monthly Paycheck
Imagine handing over a lump sum of money to the government and, in return, getting a fixed salary deposited into your bank account every single month. That is exactly what the Post Office Monthly Income Scheme (POMIS) does.
Who Is This Really For?
POMIS is absolutely brilliant for retirees or anyone looking for passive, reliable cash flow to cover monthly expenses. The interest rate is fixed when you open the account, completely shielding you from market volatility for the next 5 years.
Want to know how much monthly income your savings can generate? Just type your principal amount into our POMIS Calculator and find out immediately.
Frequently Asked Questions
Yes. As of recent updates, a single account can hold up to ₹9 Lakhs, and a joint account can hold up to ₹15 Lakhs.