Wednesday, April 21, 2010

Post office Monthly income Account

This is also very safe and secured investment. A person can open monthly income account with a post office. The rate of interest in respect of deposit made in this account on as after 1-3-2003 is 8% per annum. In comparison with Post office Monthly Income Account it is better to go in for Monthly Income Plan of a Mutual Fund as the income from Monthly Income Plan of a Mutual Fund is fully exempted from income tax under Section 10(35) of the Income Tax Act 1961.But this is safe investment who don't want to take any risk.

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