At this point, everyone looks for investments that are both secure and reliable. But not everyone has the right idea about it; that’s what we’re discussing today. Post Office Monthly Investment Scheme is indeed the most secure investment scheme in our country, especially for regular income holders after retirement.
Post Office MIS Scheme
Under the Post Office MIS scheme, the investment pays an interest amount every month. This is a great option for investors worried about future post-retirement lives. Even his huge funds are well protected, and he is likely to earn better returns too. Let us now find out how to deposit into the Monthly Income Scheme.
How much interest is going?
Under Indian Post Office’s monthly income scheme investment, you will neither earn on a good basis but also make your money safe. Currently, the government gives you an annual interest rate of 7.4 percent on investment, which keeps changing every three months. Just when you want, you can put this money easily into this scheme.
You have the option of opening a joint account
To facilitate your easy understanding of this, the fact is that to invest in the Post Office MIS scheme, you need to open an account. It can be done in two forms: single or joint accounts, which can be opened by any citizen residing in India. A minimum amount of Rs 1000 can be invested in this account. Well, regarding the maximum investment, it is said that as much as 9 lakh can be deposited in a single account. At the same time, if you open a coin account, then you can deposit a maximum amount of 15 lakh.
Every month, you are going to receive ₹ 9,250.
Everyone must be thinking about how the income is going to start in this scheme. So let us clear it to you that if you open a single account in the POMIS scheme, then you would be able to deposit a maximum limit of 9 lakh.
Likewise, if the amount is deposited as a lump sum of 9 lakh rupees, it earns an interest rate of 7.4 percent, which is going to be provided annually for the next five years on this deposit. As you can calculate it would result in interest of ₹ 9,250 that will be continuously deposited for 5 years. So with this interest, they will have ₹ 1,11,000 annually as profit.
It is possible to easily open an account
The opening of an account under the Post Office MIS Scheme is fairly easy and simple. First of all, you have to locate the post office nearest to you and then go there and get the KYC form and fill that form while attaching a copy of your PAN card. To open a joint you have a PAN card of both members. You can easily open an account with this and start your investment.
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