₹10,000 Monthly Income Scheme in India with Calculation Examples [Hindi]

₹10,000 Monthly Income Scheme in India with Calculation Examples [Hindi]
In this video by FinCalC TV, we will see how to get Rs. 10,000 or more monthly income using various monthly income plan or scheme in India in hindi. We will see the calculation examples using the calculators, along with features and benefits to cover your monthly expenses.
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After watching this video following queries will be solved:
monthly income scheme in India
Post office monthly income scheme
monthly income plans
how post office mis works
monthly income scheme calculator
swp calculator
swp for monthly income
senior citizen saving scheme
WHAT IS POST OFFICE MONTHLY INCOME SCHEME (MIS)?
Post Office Monthly Income Scheme or Post Office MIS is a fixed income scheme that gives regular payout every month on your deposits
This is a Post office scheme for those looking for decent returns on their lump sum investment
The tenure for Post Office MIS Scheme is 5 years, which means your money will be locked in for 5 years.
You can deposit minimum of Rs. 1000 and maximum of Rs. 9 Lakh in Single account and Rs. 15 Lakh in joint account of this scheme
The current interest rate in Post Office Monthly Income Scheme is 7.4% for January to March 2024 quarter
This interest rate is reviewed by government of India every quarter
The interest on which you open Post Office Monthly Income Scheme will be fixed throughout 5 years of your tenure
What is SCSS monthly income plan?
SCSS or Senior Citizen Saving Scheme is for the senior citizens of India - Age 60 years or above
It helps you get quarterly interest payout after every quarter based on the principal amount you deposit and interest rate
The current interest rate in SCSS is 8.2% for the quarter January to March 2024
So for example, you deposit Rs. 1 Lakh in SCSS, at 8.2% interest rate, you will get Rs. 2050 as quarterly interest payout
SCSS tenure is 5 years, and you can extend it with a block of 3 years as well
You get Income Tax Benefits under Section 80C with SCSS account - maximum Rs. 1.5 Lakh can be claimed in a financial year
WHAT IS SWP for monthly income?
- SWP or Systematic Withdrawal Plan is a method to withdraw consistently every month from a mutual fund that you want to invest in
- Basically, it is the reverse of SIP. In SIP (Systematic Investment Plan), you invest some amount every month to accumulate desired corpus by the end of tenure
- In SWP, you can keep the same accumulated amount in that mutual fund (or other mutual fund) and withdraw consistently every month, while the accumulated units in mutual fund earns you more profits
- SWP helps you to earn regular income after your retirement to meet your needs.
- It is similar to Post Office Monthly Income Scheme Plan, in which you earn regular income based on fixed interest rate
- The only difference is in Post Office, the interest rate is known, where as in SWP, returns from mutual funds are not known. But over long term, market usually gives better returns if invested in good mutual funds
- You can provide the expected returns in your mutual fund in above calculator, after adjusting inflation, and know the every month withdrawal amount and remaining amount after specific time period
#MonthlyIncome #SWP #MutualFunds #PostOffice #FinCalCTV
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DISCLAIMER:
Examples and demo used are for Illustration purpose only and might not cover every detail of examples shown.
I Am Not A SEBI Registered Adviser. All The Information Provided By Me Are For Educational/Informational Purposes Only. We Do Not Take Any Responsibility For The Accuracy Of The Data But As It May Contain Typographic Or Other Errors And Inaccuracies And We Expressly Disclaim Liability For Any Errors On The KZbin Channel (FinCalC TV). Please consult your Financial Advisor before taking any decision or action in terms of your Finances.

[@satyendrasinghthakur1102]

Good ☺️

[@powertechlearning]

Hello Sir Pls make a video on "rbi floating rate savings bonds", its benefits and risk Thanks

[@harvinderkaurbhasin9365]

Sir, I am retired person 65years old having pension income Rs. 600000/= and Rs 400000/= as interest on fixed deposit . Total income 10 laths. Should I opt old or new income tax option ?

[@Pankhuri-Kumari]

Sir, my Father age is 65 year, he have FD in bank of 5 Lakhs for 2 years. total interest on maturity is ₹ 68,366.00. 1st year interest will be ₹ 1,164.62 March-Apr 23-24 2nd year Interest will be ₹ 39,899.15 Apr-March 24-25 3rd year interest will be ₹ 27,302.23 Apr-March 25-26 Total Interest will be ₹ 68,366.00. for 2 years will bank Deduct TDS on interest ₹ 68,366? Because Interest Earn on FD for 2 year is above 50k limit. Do he need to fill 15H form? (Retired Person) no any other Source of income. Please Answer.

[@fincalc]

yes please fill form 15H to avoid TDS deduction. you can fill it online as well if net banking in enabled for his account