This post office scheme gives guaranteed returns every month
This scheme is helpful in planning after retirement
One can deposit a minimum of Rs 1,000
New Delhi. Apart from the job, if you want the option of regular income separately, then the Monthly Income Scheme of the Post Office (Post Office MIS) can be a better option for you. In this scheme, investors have to deposit a lump sum amount and get an opportunity to earn every month. Being a post office scheme, your money is also safe. In this, investors also get a great return of 6.6 percent. This scheme is of 5 years, which can be extended further for 5-5 years.
Account will be opened in only 1000 rupees
Any Indian citizen can invest in the Post Office Monthly Income Scheme. Under the Post Office Monthly Income Scheme, an account can be opened for only Rs 1000. Any person who has completed 18 years of age can open the account. Post Office MIS has the facility to open both single and joint accounts. A person can open an account with a maximum of 3 account holders simultaneously.
Maximum investment of Rs 9 lakh possible through joint account
A maximum of Rs 4.5 lakh can be invested in this scheme through a single account. At the same time, a maximum of Rs 9 lakh can be invested through a joint account.
Get Rs 4950 per month by investing Rs 9 lakh
In this scheme of post office, an annual interest of 6.6 percent is available. Its maturity period is 5 years i.e. after 5 years you will start getting guaranteed monthly income. If you deposit a lump sum of Rs 9 lakh in a joint account, then after 5 years at an interest rate of 6.6 per cent per annum, the total interest on this amount will be Rs 59,400. This amount will be distributed over the 12 months of the year. In this way, the interest per month will be around Rs 4,950. In this way, you can earn Rs 4,950 every month. If you deposit Rs 4.50 lakh through a single account, then the monthly interest will be Rs 2475.
Cannot withdraw my deposit before 1 year
One condition of opening this account is that you cannot withdraw your deposit before 1 year. On the other hand, if you withdraw before the completion of your maturity period i.e. between 3 to 5 years, then 1 percent of the principal amount will be refunded after deducting it. On the other hand, if you withdraw money on completion of the maturity period, then you will get all the benefits of the scheme.
FIRST PUBLISHED : July 18, 2022, 07:35 IST