Investment: Monthly income will be 20 thousand to 60 thousand, 3 risk free investments for regular income

Monthly Income From Risk Free Investment :If you want to earn monthly income after retirement by investing your hard earned money in safe and better options, then pay attention. You can earn 20 thousand to 60 thousand rupees every month by keeping your deposit safe. In this, 3 risk free and guaranteed return schemes of Post Office (Post Office Small Savings) will be useful for you. These schemes are Public Provident Fund, Senior Citizens Savings Scheme (SCSS) and National Savings Monthly Income Scheme (POMIS). These three schemes are very attractive for investors, where their earnings will be 100% safe, and they can also earn a better monthly income on it.

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1. PPF

PPF account can also be used for regular income. For this, you have to continue this scheme even after retirement with or without investing anything. PPF scheme can be extended any number of times for 5 years each after the maturity of 15 years. If you extend it after maturity without investing anything, then you can withdraw the entire amount once every year in the extended 5 years. If you continue investing as before even in the extended period, then you can withdraw up to 60 percent of the money every year.

How will you get regular income?

Let’s assume that you started investing in a PPF account at the age of 35. If the retirement age is assumed to be 60 years, then even after the maturity of 15 years, there will be an option to extend this scheme with investment for 10 years. That means you can run this scheme for 25 years, when you will be 60 years old.

Maximum deposit in a year: Rs 1.50 lakh
Interest rate: 7.1 per cent per annum
Tenure : 25 years
Fund after 25 years: Rs 1.03 crore

Here, after 25 years, you will have Rs 1 crore in your PPF account when you retire. After retirement, if you extend the scheme for 5 years without any investment, then it will get interest at the rate of 7.1 percent per annum. In this sense, Rs 7,31,300 interest will be added to your account in a year. At the same time, according to the withdrawal rules, you can withdraw the entire amount every year. If you withdraw only the interest i.e. Rs 7.31 lakh after the completion of one year, then it will be about Rs 60 thousand monthly for 12 months. You can do this every year. At the same time, there will be no tax on this withdrawal. While your fund of Rs 1 crore will always remain in the account.

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2.SCSS

Monthly income can also be generated from Senior Citizens Savings Scheme (SCSS). The maximum limit of deposit in this account is Rs 30 lakh. While the current interest rate is 8.2 percent per annum. In SCSS also, you can avail tax exemption on investment up to Rs 1.50 lakh under Section 80C of the Income Tax Act. You can extend this account for another 3 years after maturity of 5 years. If you are above 60 years of age or such retired employees in the age group of 55-60 years, who have opted for Voluntary Retirement Scheme (VRS) or retired defense employees whose age is at least 60 years, can open this account.

How will you get regular income?

Maximum deposit in the account: Rs 30 lakh
Interest rate: 8.2% per annum
Maturity period: 5 years
Amount on maturity: Rs 42,03,000
Annual interest: Rs 2,40,600
Quarterly interest: Rs 60,150
Monthly interest: Rs 20,050

Here you can earn 20 thousand rupees on a monthly basis. Note that if you deposit money in 2 different accounts along with your spouse, you will get more than 40 thousand rupees of interest every month.

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3. POMIS

Post Office Small Savings Scheme Monthly Income Account is a safe investment option which can become a source of regular income for anyone. This scheme can be a strong option for financial stability for those who are looking for a stable income every month. This scheme can be availed especially after retirement.

The maximum limit of deposit for Post Office Monthly Income Scheme (POMIS) through a single account is Rs 9 lakh. Whereas if you open a joint account with your spouse, then this limit is Rs 15 lakh. The interest rate on this account is 7.4 percent per annum.

How will you get regular income?

Interest rate: 7.4% per annum
Maximum investment from joint account: Rs 15 lakh
Annual interest: Rs 1,11,000
Monthly interest: Rs 9250

The annual interest on the money deposited in this scheme is divided into 12 parts and is credited to your account every month. The maturity period of this scheme is 5 years, but after 5 years, it can be extended as per the new interest rate.