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Post Office MIS Scheme: Do you want permanent monthly income by investing in Post Office Monthly Income Scheme? You will be surprised to know how much interest you will get on depositing Rs 4 lakh with your wife!
Regular investment can give good returns in the long run. This is what investment experts say. At present there are many investment options available in the market. But yes, there is risk in all this. However, investments like government schemes, bonds, bank deposit schemes give guaranteed returns. In all these cases no question of risk arises.
To provide financial security to the common citizens of the country, the post office also offers many types of savings schemes. MIS (Monthly Income Scheme) is a great and popular scheme among the post office savings schemes. Under this scheme, a lump sum investment has to be made, after which a fixed monthly interest will be received. Today we will know how much interest will be received per month on depositing Rs 4 lakh in the MIS scheme of the post office.
The current annual interest rate on Post Office MIS Scheme is 7.4%. Under the Monthly Income Scheme, a minimum lump sum investment of Rs 1000 can be made, in which a maximum of Rs 9 lakh can be invested. Under Post Office MIS Scheme, a maximum of Rs 15 lakh can be deposited in a joint account. Under the MIS scheme, a maximum of three people can be included in the joint account.
MIS account matures in 5 years. You have to invest only once in the MIS scheme, after which a fixed monthly interest amount will start getting credited to the bank account. This scheme will end after 5 years. After maturity, all the amount deposited in MIS account will be transferred to the bank account. Under this scheme, a joint account can be easily opened with the spouse. If someone jointly deposits Rs 4 lakh in this scheme, then the bank account will get a fixed interest of Rs 2,467 every month.
To open an account in MIS, a savings account in the post office is required. To open an account under Post Office Monthly Income Scheme, it is necessary to have a savings account in the post office. If there is no savings account in the post office, then it is necessary to open a savings account before opening the account under Monthly Income Scheme. It is important to know that a person’s money is completely safe in all the post office schemes, because the post office is a government department, which is controlled by the central government.
