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Home Education Retirement Planning #2. Post Office Monthly Income Scheme (POMIS) Account

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#2. Post Office Monthly Income Scheme (POMIS) Account

Tuesday, April 10, 2018, 6:08 AM

POMIS is a five-year investment with a maximum cap of Rs 9 lakh under joint ownership and Rs 4.5 lakh under single ownership. The interest rate is set each quarter and is currently at 7.8% per annum, payable monthly. The investment in POMIS doesn't qualify for any tax benefit and the interest is fully taxable.
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