If you have a good amount of savings and want to earn a monthly income without taking any risk, the Post Office Senior Citizens Savings Scheme (SCSS) and the Post Office Monthly Income Scheme (POMIS) can help. These two government-backed schemes not only protect your capital but also offer monthly income up to ₹30,000, ideal for retired individuals or those who want a steady income stream.
Senior Citizens Savings Scheme (SCSS) – Earn Over ₹20,000 Monthly
The SCSS is designed especially for senior citizens above 60 years. It offers a high interest rate and complete capital protection.
- Maximum Deposit Limit: ₹30 lakh
- Interest Rate: 8.02% per annum
- Interest Payout: Every quarter
- Maturity: 5 years (extendable)
If you deposit the full ₹30 lakh in this scheme, you will earn ₹60,150 every quarter, which is equal to around ₹20,050 per month. Over 5 years, your total earnings from interest will be ₹12,03,000.
Post Office Monthly Income Scheme (POMIS) – Extra ₹9,250 Monthly
The POMIS is suitable for those who want a monthly payout on their savings. You can invest alone or jointly with your spouse.
- Max Investment in Joint Account: ₹15 lakh
- Interest Rate: 7.4% per annum
- Interest Payout: Every month
- Maturity: 5 years (renewable after maturity)
With a full deposit of ₹15 lakh in a joint account, you can earn ₹1,11,000 yearly, which means a monthly income of ₹9,250.
Combine SCSS and POMIS to Get Monthly Income Near ₹30,000
If you use both schemes smartly—₹30 lakh in SCSS and ₹15 lakh in POMIS—you can earn around ₹29,300 every month (₹20,050 from SCSS + ₹9,250 from POMIS). Both options are risk-free as they come under government schemes, and the returns are fixed and reliable.
This combination is perfect for retirees or anyone looking for a stable monthly income without worrying about market risks.
Capital Safety with Regular Payouts
Both these post office schemes offer full safety of your money. Since they are operated by the Indian government, there is no risk of losing your capital. Also, there is flexibility to extend these schemes after the 5-year maturity period, based on the prevailing interest rates.
Disclaimer: Interest rates are subject to change based on government updates. Please check the latest rates before investing. These schemes are ideal for conservative investors and are not meant for aggressive growth.
