Key Points
- Deposit In multiples of INR 1000/-
- Maximum investment limit is INR 9 lakh in single account and INR 15 lakh in joint account
- An individual can invest maximum INR 9 lakh in MIS (including his share in joint accounts)
- Interest rate from 01.04.2024 is 7.4% per annum.
Utilizing a POMIS Calculator
When it comes to planning your finances, making smart choices is very important. A POMIS calculator is a useful tool that helps buyers figure out how to make the best financial decisions and estimate possible yields. By entering the amount of money they want to spend and how long they want to keep it, people can get accurate monthly income estimates that help them make budgets and set goals. These tools also take into account current interest rates, so you can see how your investments are doing right now.
Every Investment Scheme varies from individual to individual, you can read it here – Pros and Cons of Post Office Monthly Income Scheme (POMIS)
Advantages of POMIS Calculator
- Accuracy: POMIS calculators provide precise estimations of monthly income based on the entered parameters, eliminating guesswork and facilitating informed decisions.
- Convenience: With user-friendly interfaces, POMIS calculators offer convenience in accessing investment projections anytime, anywhere, fostering a seamless investment experience.
- Time-saving: By automating complex calculations, POMIS calculators save time for investors, allowing them to focus on other aspects of financial planning and management.
- Comparison: Investors can utilize POMIS calculators to compare potential returns across different investment amounts and durations, enabling them to tailor their investment strategy to align with their financial goals.