What is the key benefit of investing in the Post Office Monthly Income Scheme (POMIS)?

"Sovereign guarantee, making it a safe investment" "High returns compared to equity shares" "Monthly disbursement of interest" "All of the above"

What is the interest rate for the Post Office Monthly Income Scheme (POMIS) as of January 1, 2024?

"6.60%" "7.10%" "7.40%" "7.70%"

What is the maximum investment limit for a single account in the Post Office Monthly Income Scheme (POMIS)?

"Rs. 1 Lakh" "Rs. 5 Lakhs" "Rs. 9 Lakhs" "Rs. 15 Lakhs"

What is the lock-in period for investments in the Post Office Monthly Income Scheme (POMIS)?

"1 year" "3 years" "5 years" "7 years"

Is the interest earned on the Post Office Monthly Income Scheme (POMIS) subject to Tax Deducted at Source (TDS)?

"Yes" "No" "Only for joint accounts" "Only for minor accounts"

What is the minimum amount required to open a Post Office Monthly Income Scheme (POMIS) account?

"Rs. 100" "Rs. 500" "Rs. 1000" "Rs. 5000"

Can a non-resident Indian (NRI) open a Post Office Monthly Income Scheme (POMIS) account?

"Yes" "No" "Only if they have a resident Indian co-applicant" "Only for specific types of NRIs"

What is the penalty for withdrawing from the Post Office Monthly Income Scheme (POMIS) before the completion of one year?

"1% of the deposit" "2% of the deposit" "Zero benefits" "Varies based on the amount withdrawn"

What is one of the ways to reinvest the interest earned from the Post Office Monthly Income Scheme (POMIS)?

"Fixed deposits" "Government bonds" "Equity shares" "Real estate"

What type of investment strategy does the Post Office Monthly Income Scheme (POMIS) primarily cater to?

"High-risk, high-reward" "Low-risk, steady returns" "Growth-oriented" "Speculative"