New Delhi. If you are making investment planning, then today we are telling you about a great scheme. This scheme is of Post Office i.e. Post Office. Let us tell you that Post Office Saving Schemes promise guaranteed returns, where you can blindly trust these savings schemes. In such a situation, the Monthly Income Scheme (MIS) of the Post Office can be a better option for regular income.
Any Indian citizen can invest in the Post Office Monthly Income Scheme (Post Office MIS). Through this small savings scheme, you can still arrange for a guaranteed income of up to Rs 4950 per month for your family. In this, you can open an account in both a single account and a joint account. So let’s know the details about it..
Government guarantees security
Under the Monthly Income Scheme of the Post Office, a lump sum amount is deposited in the account under a single or joint account. According to that amount, money keeps coming in your account every month. This scheme is of 5 years, which can be extended further for 5-5 years. It is completely risk free and here the government guarantees security on your 100% investment. For the current quarter, the government has fixed an interest rate of 6.6 percent per annum for the Post Office Monthly Income Scheme.
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See scheme details at a glance..
Scheme: Monthly Income Scheme (MIS)
Interest: 6.6% p.a.
Minimum deposit: Rs 1000
Maximum Deposit (Single Account): Rs 4.5 lakh
Maximum Deposit (Joint Account): Rs 9 lakh
There can be a maximum of 3 people in a joint account, but the maximum deposit will be 9 lakhs only.
A guardian account can also be opened in the name of a minor who is above 10 years of age.
The maturity period for this scheme is 5 years, but it can be extended further for another 5 years.
How is monthly amount calculated?
Under this scheme, you have to invest in one go. According to the fixed rates in the investment amount, the annual interest is divided into 12 parts. Every share gets credited to your account on a monthly basis.
How to get 5000 rupees monthly?
For this you have to open a joint account in the post office. This account can also be opened by husband and wife.
Lump sum investment through joint account: Rs 9 lakh
Annual interest: 6.6%
Interest amount in 1 year: Rs 59400
Monthly interest: Rs 4950
If single account
Lump sum investment: Rs 4.5 lakh
Annual interest: 6.6%
Interest amount in 1 year: Rs 29,700
Monthly interest: Rs 2475
Also read- Start this business by investing ₹ 12 lakh, every month there will be such tremendous earnings that you will forget the job, the government will also help
How to open account?
For this, you must have a savings account in the post office. For this you must have Aadhar card or passport or voter card or driving license etc. for ID proof. It is necessary to have 2 passport size photographs. Address proof should be an ID card or utility bill issued by the government. If these documents are ready, then by going to the post office, first of all, the form of the Post Office Monthly Income Scheme will have to be filled. You can also download it online. Along with filling the form, the name of the nominee will also have to be given. To open this account, initially 1000 rupees have to be deposited through cash or cheque.
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