Post office: In India, the post office is not only providing postal services but also many banking services. Some post office schemes also offer higher interest than banks. Here we are going to tell you about one such scheme, in which you can earn a lot of money every month by investing. Let’s know about this scheme-
7.4% annual interest is being offered on MIS scheme-
Post Office’s MIS i.e. Monthly Income Scheme is a scheme in which interest is received every month once you invest. In this scheme, you can open an account with a minimum of Rs 1000. A maximum of Rs 9 lakh can be deposited in the MIS scheme and in a joint account this limit can be up to Rs 15 lakh. Currently, this scheme is getting an annual interest of 7.4%, which comes to your account every month.
You will get a fixed interest of Rs 5550 every month-
If you deposit Rs 9 lakh in this scheme, you will get a fixed and guaranteed interest of Rs 5550 every month. You will continue to get this interest for 5 years. After 5 years, the entire Rs 9 lakh deposited by you will come back to your account and apart from this, you will also get a total interest of Rs 3,33,000 in 5 years.
Account opening process-
To open an account under this scheme, you must also have a post office savings account. Keep in mind that this scheme comes with a lock-in period of 5 years, but you can withdraw your money by closing the account under certain circumstances.
