Under this scheme, you can open both single and joint accounts. A maximum of ₹9 lakh can be deposited in a single account, while a maximum of ₹15 lakh can be deposited in a joint account.
Add informalnewz.com as a Preferred Source
Post Office Scheme: The Post Office offers a variety of savings schemes to meet the diverse needs of its customers. Various types of savings accounts are opened at the Post Office, including RD, TD, MIS, PPF, and Kisan Vikas Patra. Here, we will learn about the Post Office’s MIS (Monthly Income Scheme). The Post Office’s Monthly Income Scheme still offers an annual interest rate of 7.4 percent. You only need to invest once in this scheme, after which you receive guaranteed fixed interest every month for 5 years. If you open an account under this scheme with your wife or any other family member, you can earn a maximum fixed interest of Rs 9,250 per month.
A maximum of Rs 15 lakh can be deposited in a joint account.
You can open an MIS account with a minimum investment of Rs 1,000. Under the MIS scheme, you can open both single and joint accounts. A maximum of ₹9 lakh can be deposited in a single account, while a maximum of ₹15 lakh can be deposited in a joint account. Under the Post Office MIS scheme, you can enroll up to three people in a joint account. If you invest ₹15 lakh in this scheme’s joint account with your wife, you can start earning a substantial monthly income from the interest alone.
You will receive a fixed interest of ₹9,250 per month.
The interest earned under this scheme is transferred directly to your bank account. If you and your wife deposit ₹1.5 million in the Post Office MIS scheme, you will receive a fixed interest of ₹9,250 per month. The Post Office MIS scheme matures in 5 years. Upon maturity, all your investment funds are transferred to your account. It’s worth noting that to open a Post Office MIS account, you must have a Post Office savings account.
