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| How can you earn Rs 2850 per month without any work? |
People close to us are advising us to save money and we think this saving will be in the future but we don't know where to save money nowadays. We want to save money in a place where our capital is safe but people do not know where money can be invested but don't worry you will find the solution to your confusion through this article.
So to keep your capital safe, you have to go to the post office and open a National Savings monthly income account. Now after opening this account you have to deposit your capital and you will also get the income of that capital.
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Now let's talk about who can open this account?
So this account can be opened by 4 different types of people.
1. a single adult
2. Joint account (maximum 3 adults)
3. Minor above 10 years of age
4. A guardian on behalf of the minor/person of the unsound mind.
Now, how much capital can you invest in this account at once?
So any one person can invest a maximum of Rs 4.5 lakh in this account and if you open a joint account you can invest up to a maximum of Rs 9 lakh.
Now there is no restriction on how many accounts you can open but there must be a total of Rs 4.5 lakh in the name of one person. (So the total of all accounts should not exceed 4.5 lakh.)
So now it comes down to how much income we will get on this capital?
Now every year your country's finance ministry announces the amount of interest and currently, the interest rate is 7.6% (annually) but the money is credited to your account every month. (Example - If you have Rs 4.5 lakh in your account, you get Rs 34,200 per annum at 7.6% interest but Rs 2850 per month is credited to your account so you get interest not at the end of the year but every month.)
The National Savings monthly income account also has a nomination facility. If you wish, you can decide on the nominee before opening the account and also after opening the account.
You can open as many accounts as you want in one post office and not only that, you can also transfer your account from one post office to another post office.
If an account is opened in a person below the age of 18 years, the account has to be transferred to his / her name after the age of 18 years.
Now the maturity of the National Savings monthly income account is 5 years so your capital is fixed in this account for 5 years. If you want to withdraw that money for 5 years then it is not possible in the first year but between 1 to 3 years you can withdraw money at 2% discount and if you withdraw money after 3 years you get money at 1% discount. (Now this discount means that after deducting that amount of money, you are given the remaining increased capital.)
Now after 5 years you will have a total income of Rs. 1,71,000 if you have deposited Rs. 4.5 lakh as capital in the National Savings monthly income account.
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