You can open an MIS account with a minimum investment of Rs 1000. You can open both single and joint accounts under this scheme.
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Post Office Scheme: You can open a variety of savings accounts at the post office, such as RD, TD, MIS, PPF, and Kisan Vikas Patra. The Monthly Income Scheme, one of the popular schemes offered by the post office, still offers an annual interest rate of 7.4 percent. You only need to invest once in this scheme, after which you receive a guaranteed fixed interest rate every month. This interest rate is paid for the next five years. If you open an account under this scheme with your wife or any other family member, you can earn a maximum fixed interest rate of ₹9,250 per month.
A maximum of ₹15 lakh can be deposited in a joint account.
You can open an MIS account with a minimum investment of ₹1,000. Under this scheme, you can open both single and joint accounts. The maximum deposit amount is ₹9 lakh in a single account and ₹15 lakh in a joint account. Under the Post Office MIS scheme, you can add up to three people to a joint account. If you invest ₹1.5 million with your wife in this scheme’s joint account, you can start earning substantial monthly income from the interest alone.
You will receive a fixed interest of ₹9,250 per month.
If you and your wife deposit ₹1.5 million into the Post Office MIS scheme, you will receive a fixed interest of ₹9,250 per month. The interest earned under this scheme is transferred directly to your bank account. The Post Office MIS scheme matures in 5 years. Upon maturity, all your investment funds are transferred to your account. To open a MIS account at the Post Office, you must have a Post Office savings account.
