Post Office Scheme: The country’s post office operates a number of savings schemes tailored to the needs of ordinary individuals. Accounts can be opened at the post office under several schemes such as TD, RD, MIS, PPF, and Sukanya Samriddhi Yojana. Today, we will discuss the Post Office’s MIS (Monthly Income Scheme). This scheme offers a fixed monthly interest rate of ₹5,550. Yes, you can earn a significant monthly income by investing only once in this system.
Post Office Scheme : Post Office MIS Scheme provides 7.4% interest
Under the Post Office MIS, you simply need to invest once and will receive a fixed interest rate every month. The Post Office’s MIS plan now has an annual interest rate of 7.4%. The Monthly Income Scheme allows for a lump sum investment of ₹1,000. The maximum investment limit is ₹9 lakh. Under the Post Office MIS initiative, you can deposit up to ₹15 lakh in a joint account. Under the MIS program, up to three people can register a joint account.
With a deposit of ₹9 lakh, you can receive a fixed monthly interest of ₹5,550.
If you deposit ₹9 lakh in the Post Office Monthly Income Scheme, you would earn a fixed interest rate of ₹5,550 per month for 5 years. The interest will be deposited directly to your savings account. In five years, the Post Office MIS plan will have matured. At maturity, all funds in your MIS account are transferred to your bank account. To invest in the MIS scheme, you must first have a Post Office savings account. If you do not already have a savings account with the Post Office, you must open one before applying for the Monthly Income Scheme.
