Monthly income scheme is a unique saving scheme offered by the post offices. Post office monthly income scheme is a safe and a guaranteed scheme owned by the government. In the monthly income scheme post office offers a regular monthly income based on the lump sum amount you deposit while investing in the monthly income scheme. In the monthly income scheme post office will pay you the monthly interest you earn on your lump sum amount, hence ensuring a regular monthly income. At moneysuperbazaar.com, we offer a comprehensive study of this unique and returns guaranteed post office monthly income scheme. There is an online monthly income scheme calculator available to check your monthly income based on the amount you plan to invest in the monthly income scheme and the tenure.

Some important features to know about the post office monthly income scheme are rate of interest, tenure and maturity related clauses. The rate of interest in the post office monthly income scheme is 8% per annum. All this interest earned on the monthly income scheme is completely taxable and hence this saving scheme is not anyways meant for income tax saving purposes. The monthly income scheme maturity period is 6 years and at maturity of your monthly income scheme post office even pays a bonus up to 10%. Under the monthly income scheme post office also provides a facility to directly credit the monthly income in form of your monthly interest to your post office saving account if it is with the same post office. However, in the monthly income scheme post office doesn�t provide the facility to credit the money to your bank accounts.

As mentioned about the utility of monthly income scheme calculator, it takes the lump sum amount and the type of account, i.e. single or joint as the input and based on the fixed criterions like interest rate and maturity tenure, comes up with the monthly income and maturity amount for your intended post office monthly income scheme. The benefit of availability of such an online monthly income scheme calculator is tremendous. Similar to the monthly income scheme calculator, most investment schemes provide a calculator to analyze the returns before investing in the scheme. Such a monthly income scheme calculator is also available at moneysuperbazaar.com.