Post Office’s MIS (Monthly Income Scheme) is a scheme in which you have to invest only once i.e. lump sum and interest money keeps coming in your account every month. In this scheme of post office, you can open an account with a minimum of Rs 1000. A maximum of Rs 9 lakh can be deposited in MIS scheme.
Post Office Schemes: It has been more than 251 years since the post office has been providing services in India. The country’s first post office was established in Calcutta on March 31, 1774. Today the post office is providing many types of banking services along with postal services.
Not only this, there are some schemes of the post office where more interest is being given than banks. Today we will tell you about such a scheme of the post office, in which you can earn every month by investing. If you invest in this scheme, then you can get a fixed interest of Rs 5550 every month. Let’s know.
7.4 percent annual interest is being given on MIS scheme
Post Office MIS (Monthly Income Scheme) is a scheme in which you have to invest only once i.e. lump sum and interest money keeps coming in your account every month. In this scheme of Post Office, you can open an account with a minimum of Rs 1000. A maximum of Rs 9 lakh can be deposited in MIS scheme.
Under this scheme, a maximum of Rs 15 lakh can be deposited in a joint account. A maximum of 3 people can be added in a joint account. Currently, 7.4 percent annual interest is being received on Post Office MIS scheme, which is paid every month.
Fixed interest of Rs 5550 will be credited to your account every month
The Post Office Monthly Income Scheme comes with a lock-in period of 5 years. However, in some adverse circumstances, you can close the account and withdraw all the money. To open an account in the MIS scheme, you must also have a post office savings account.
If you deposit Rs 9 lakh in this scheme, you will get a fixed and guaranteed interest of Rs 5550 every month for 5 years. After the completion of 5 years, the entire Rs 9 lakh deposited by you will be returned to your account. Along with this, you will also get a total interest of Rs 3,33,000 at the rate of Rs 5550 in 5 years.
