Guaranteed Return Scheme: Through this small savings scheme, you can still arrange up to 4950 rupees of income for your family every month. In this, you can open an account by both single account and joint account.
New Delhi. Post Office Saving Schemes promise guaranteed returns, where you can blindly trust these savings schemes. Your hard-earned money never drowns in these schemes. So if you are looking for an option for regular income, then the post office monthly income scheme ( MIS) can be a better option for you. Any Indian citizen can invest in the Post Office Monthly Income Scheme. Through this small savings scheme, you can still arrange up to 4950 rupees of income for your family every month. In this, you can open an account by both single account and joint account. So let’s know details about it ..
Government takes guarantee of security
Under the monthly income scheme of the post office, a lump sum 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 for another 5-5 years. It is completely risk free and the government guarantees security for 100% investment here. For the current quarter, the government has fixed an annual interest rate of 6.6 percent for the post office monthly income scheme.
scheme details at a glance.
Scheme: Monthly Income Scheme (MIS)
Interest: 6.6% per annum
Minimum Deposit: Rs 1000
Maximum Deposit (Single Account): Rs 4.5 Lakh
Maximum Deposit (Joint Account): Rs 9 Lakh
Joint Account can have maximum 3 people, But the maximum deposit will be 9 lakhs only.
Parent accounts can also be opened in the name of a minor over 10 years of age.
The maturity period for this scheme is 5 years, but it can be further extended for 5-5 years.
How is the monthly amount calculated?
Under this scheme you have to invest in one go only. According to the fixed rates in the amount of investment, the annual interest is divided into 12 parts. Every part gets into your account on a monthly basis.
how will you get 5000 rupees monthly?
For this, you have to open a joint account in 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%
– Amount of Interest in 1 Year: Rs. 59400
– Interest per month: Rs. 4950
– If Single Single Count
– Lump sum Investment: Rs. 4.5 Lakhs
– Annual Interest: 6.6 percent
– interest paid in one year: 29,700 bucks
– interest according to the monthly 2475 rupee
Know How to open account?
– For this you have to have a savings account in Post Office.
– For this, you have to have Aadhaar card or passport or voter card or driving license etc. for ID proof.
– It is necessary to have 2 passport size photographs.
– There should be a government-issued ID card or utility bill for address proof.
– If these documents are ready, go to the post office and fill the post office monthly income scheme form first. You can also download it online.
– By filling this form correctly and submitting all the required documents, you can open this account easily.
– Along with filling the form, the name of the nominee will also have to be given.
– must collect it starts to open an account by Rs 1,000 cash or Czech.
