Post Office Scheme: Saving scheme is run by Post Office from time to time. Today we are telling you about Monthly Income Scheme. In this scheme you can earn double profit in 5 years,
New Delhi: Many small saving schemes are operated by the Post Office. The name of one scheme in this is Monthly Income Scheme, which is also known as MIS Account.
As per the name, a lump sum amount is deposited in the Monthly Income Scheme Account. Every month you will get a fixed amount as interest.
The duration of this scheme is 5 years. On maturity the principal amount is also returned. On March 31, the Finance Ministry revised the interest rates for small savings schemes. Now 7.4 percent annual interest is being offered on MIS scheme. Earlier 7.1 percent interest was being given on it.
No change in interest rates for the next five years
The specialty of Post Office MIS Scheme is that the interest rate at the time you invest will remain applicable for the next five years.
The interest rate is revised every quarter. Even if there is any change in the interest rate during five years, it will not have any impact on the investor.
Will get Rs 1.84 lakh only from interest in 5 years
According to Post Office MIS Calculator, if an investor invests Rs 5 lakh in this scheme, he will get Rs 3083 as interest every month.
This amount will continue to be received every month for the next five years. In these five years, the account holder will get a total of Rs 184980 only from interest. Rs 5 lakh will be returned after completion of five years.
Another change was made in the Post Office MIS Scheme in Budget 2023 which was included in the Finance Bill 2023. This has also been approved. This rule has come into effect from April 1, 2023.
An individual can now invest up to Rs 9 lakh in the Post Office MIS Scheme. Earlier this limit was Rs 4.5 lakh. This limit for joint account holders is now Rs 15 lakh. Earlier its limit was Rs 9 lakh.
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