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Post Office MIS :If you are looking for an investment that is safe and gives fixed income every month, then Post Office Monthly Income Scheme (MIS) may be perfect for you.

In this scheme, you have to deposit money only once, and then every month the interest decided by Post Office MIS is directly transferred to your bank account. This is a great option for those who want a reliable investment after retirement or for regular income.

More benefits from joint account

If you want, you can also open a joint account with your wife or any family member in Post Office MIS. In this way you can earn fixed interest up to a maximum of ₹ 9,250 every month. The investment limit in joint account is higher, due to which your monthly income also increases. This scheme is especially beneficial for those who want stable income without risk.

Interest rates and investment limits

At present 7.4% annual interest is being given on Post Office MIS. In this scheme you can open an account with a minimum of ₹ 1,000. If you open a single account, you can invest up to a maximum of ₹9 lakh. Whereas, in a joint account (in which up to three people can join), you can deposit up to ₹ 15 lakh. For example, if you and your wife together invest ₹10 lakh, Post Office MIS can give you a good fixed income every month.

fixed income every month

Suppose, you deposited ₹10 lakh in Post Office MIS. On this you will get fixed interest of ₹ 6,167 every month. The duration of this scheme is 5 years. On completion of 5 years, both your entire investment and interest are returned to your account. But remember, to invest in this scheme, you must have a post office savings account. By fulfilling this small condition, you can avail the benefit of secure and regular income through Post Office MIS.

Why choose MIS?

Post Office MIS is not only secure, but it is also convenient for those who want to avoid complex investment plans. This scheme comes with a government guarantee, due to which your money remains completely safe. Whether you are retired or looking for a source of additional income, this scheme can be a perfect fit for you.