Under Post Office MIS, you have to invest only once, after which you keep getting a fixed interest every month.
Post Office Scheme: The country’s post office runs a variety of savings schemes based on the needs of the common citizens. Accounts can be opened at the post office under various schemes, including TD, RD, MIS, PPF, and Sukanya Samriddhi Yojana. Today, we’ll tell you about the Post Office’s MIS (Monthly Income Scheme). By investing in this scheme, you can earn a fixed interest of ₹5,550 per month. Yes, you can earn a substantial income every month by investing just once in this scheme.
Post Office MIS Scheme Offers 7.4% Interest
Under the Post Office MIS, you only need to invest once, after which you receive a fixed interest every month. The Post Office MIS scheme currently offers an annual interest rate of 7.4%. A lump sum investment of ₹1,000 can be made under the Monthly Income Scheme. The maximum investment allowed is ₹9 lakh. Under the Post Office MIS scheme, you can also deposit a maximum of ₹15 lakh in a joint account. Under the MIS scheme, a joint account can be opened with up to three people.
Deposit ₹9 lakh and earn a fixed interest of ₹5,550 per month.
If you deposit ₹9 lakh into the Post Office Monthly Income Scheme, you will receive a fixed interest of ₹5,550 per month for 5 years. The interest will be transferred directly to your savings account. The Post Office MIS scheme matures in 5 years. Upon maturity, all funds deposited in your MIS account are transferred to your bank account. It’s important to note that you must have a Post Office savings account to invest in the MIS scheme. If you don’t have a savings account with the Post Office, you’ll need to open one first, only then can you open an account under the Monthly Income Scheme.
