Among the various investment schemes of Post Office, Monthly Income Scheme (MIS) is one such scheme which helps the investor to get a stable monthly return without taking any market risk.
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Post Office Monthly Income Scheme: The Indian Post Office is considered one of the most trusted institutions in the country for small savings and investment schemes. The Post Office offers Indian investors the option to invest money through Recurring Deposits (RD), Fixed Deposits (FDs), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), and other risk-free savings schemes.
What is the Monthly Income Scheme (MIS)?
Among the various investment schemes offered by the Post Office, the Monthly Income Scheme (MIS) is one that allows investors to earn stable monthly returns without taking market risks. To earn a fixed monthly income, investors need to deposit a lump sum amount into this Post Office scheme, after which they can receive a fixed monthly interest directly into their bank account.
Money deposited in the Post Office MIS currently earns an annual interest rate of 7.4 percent. Investors can open an account in this investment scheme with a minimum deposit of ₹1,000. A maximum deposit of ₹9 lakh can be made in a single account, while the deposit limit for a joint account is ₹15 lakh. A joint account can include up to three individuals.
For example, if an investor invests ₹10 lakh in a joint account with their wife, they can earn approximately ₹6,167 in fixed interest each month. With the maximum deposit amount in a joint account, investors can earn up to ₹9,250 per month.
Safe Returns
Investments in MIS schemes mature in five years, after which the entire investment amount is returned to the depositor’s account. If you wish to invest in this Post Office Monthly Income Scheme, you must have a Post Office savings account. With assured returns and simple rules, Post Office MIS is one of the most reliable investment schemes for risk-free investors. If you are looking for a guaranteed income and risk-free investment returns, this could be an excellent scheme for you. However, it is important to consult your financial advisor before making any investment.
