Post Office Scheme: If you are thinking of investing in any scheme and are looking for a safe place, then today we are telling you about a scheme of Post Office in which if you invest in the name of your wife, then you will get double benefit. Let’s know about the scheme…
New Delhi: Under Post Office Monthly income scheme, a maximum of Rs 9 lakh can be deposited in a single account. At the same time, there is a limit of Rs 15 lakh in joint account.
The current interest rate is 7.4 percent per annum. However, the total principal amount can be withdrawn after the maturity period of 5 years. It can be extended for another 5-5 years.
After every 5 years, there will be an option to withdraw the principal amount or extend the scheme. The interest received on the account is paid every month into your post office savings account.
You will get the benefit of being with your wife
Monthly income is guaranteed in the Post Office Monthly income scheme. Suppose, husband and wife have opened a joint account and deposited Rs 15 lakh in it.
On this, annual interest of Rs 1,11,000 is earned at the rate of 7.4 percent. If you divide it over 12 months, you will get an income of Rs 9250 every month.
According to Post Office rules, two or three people can open a joint account in MIS. The income received in the account is given equally to every member.
Joint account can be converted into single account at any time. Single account can also be converted into joint account.
Who can open an account?
Any citizen of any country can open an account in Post Office Monthly income scheme. Account can also be opened in the name of the child.
If the child is below 10 years of age, then his parents or legal guardian can open the account in his name. When the child turns 10 years old, he can get the right to operate the account himself.
Let us tell you, for MIS account, you should have a savings account in the post office. It is mandatory to provide Aadhar Card, PAN Card for ID proof.
There will be loss if money is withdrawn before maturity
Maturity of MIS is five years, there can be premature closure in it. However, you can withdraw money only after completion of one year from the date of deposit. According to the rules,
If you withdraw money between one year and three years, then 2% of the deposit amount will be deducted and returned. If you withdraw money before maturity after 3 years of account opening, then 1% of your deposit will be deducted and returned.
