Now the post office is not only a medium for delivering letters, but has also become a trusted name in the field of banking and investment. Some of its schemes are such that they beat even the banks. Today we are going to tell you about such a great scheme of the post office, which can make you rich. By investing in this scheme, you can get a fixed interest of Rs 5550 every month. Come, let’s know about this special scheme.
What is the Post Office Monthly Income Scheme (MIS)?
Post Office Monthly Income Scheme (MIS) is such a popular scheme, in which you have to invest only once and after that the interest amount keeps getting deposited in your account every month. In this scheme, you can start an account with a minimum of Rs 1000, while the maximum deposit limit in a single account is up to Rs 9 lakh.
Joint Account Benefits – Invest Up to ₹15 Lakh
Let us tell you that if you open a joint account, then a maximum of Rs 15 lakh can be invested in it. Up to three people can join the joint account, making this scheme convenient for families as well. Currently, the Post Office MIS scheme is offering an annual interest rate of 7.4 percent, and this interest is paid on a monthly basis. This scheme is an excellent option for those who want regular income with risk-free investment.
Savings account is necessary for emergency
The Post Office Monthly Income Scheme comes with a lock-in facility for a period of 5 years, that is, your investment remains safe for this period. However, in special circumstances, such as an emergency, you can close the account and withdraw your entire amount. To avail this scheme, it is mandatory for you to have a savings account in the post office, which can be opened easily.
Understand the calculation
How Much Monthly Interest Can You Earn? If you make a lump sum investment of Rs 9 lakh in this scheme, then for the next 5 years you will get a fixed and guaranteed interest of Rs 5550 every month. On completion of the 5-year period, you will get back your original investment i.e. Rs 9 lakh. Not only this, in these 5 years, you will also get a total interest of Rs 3,33,000 at the rate of Rs 5550 every month. In this way, this scheme not only keeps your capital safe but also ensures a stable monthly income and additional benefits.
Better option for stable investment
This scheme is especially beneficial for those who are looking for a source of regular income after retirement or want to invest their money in a safe and profitable way. So if you also want financial security along with monthly income, then this MIS scheme of Post Office can be a great option for you.
