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Post office superhit scheme – invest money only once and earn every month sitting at home

The good thing in Post Office MIS is that two or three people can also open a joint account together. The income received in exchange for this account is given equally to every member.

There are many investment options. But, there is also such a small savings scheme, in which you invest money and you get an opportunity to earn every month. Post Office Monthly Income Scheme (MIS) is a savings scheme. By investing lump sum in this scheme, income is earned every month in the form of interest. The maturity period of MIS account is 5 years. In this, the account holder gets interest every month on the lump sum deposited money. According to India Post, the scheme is getting 6.6 percent interest annually. It is paid every month.

What is MIS Scheme?
The account opened in MIS scheme can be opened both in single and joint mode. You can invest a minimum of Rs 1,000 and a maximum of Rs 4.5 lakh in this scheme while opening an individual account. However, the maximum amount that can be deposited in a joint account is Rs 9 lakh. This scheme is very beneficial for retired employees and senior citizens.

What are the benefits?

The good thing about MIS is that two or three people together can open a joint account. The income received in exchange for this account is given equally to every member. You can convert a joint account to a single account at any time. Single account can also be converted into joint account. To make any changes in the account, a joint application of all the account members has to be given.

What is the condition of withdrawing money?
On any special occasion, you can withdraw the money deposited in this scheme even before maturity, but on doing so, you will get back after deducting some money. Keep in mind that you cannot withdraw money for one year from the date of opening of the account. If you withdraw money between one year to three years, then 2% of the deposit amount will be refunded. If you withdraw money at any time before maturity after 3 years of account opening, then 1% of your deposit will be refunded after deducting it.

Why is this scheme special?
Under this scheme, you can also transfer the account from one post office to another. When the maturity amount of this investment ie five years is completed, then you can invest it again. The account holder can also appoint a nominee in this. After the death of the account holder due to some mishap, the nominee is entitled to the amount deposited. A special thing in this scheme is that TDS is not charged in it, while the interest received on this investment has to be taxed.



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