Under the Post Office Monthly Income Scheme, you only need to make a one-time deposit. Afterward, you receive a fixed monthly income. This scheme is ideal for those seeking regular monthly income, such as senior citizens, retired individuals, or housewives.
Your money in this scheme is guaranteed by the Government of India through the Post Office. This means that your investment is completely safe and unaffected by market fluctuations. Therefore, if you are looking for a low-risk and reliable income scheme, this is the best option.
Investing in the Post Office MIS can start with just ₹1,000. This makes it easy for people from all walks of life, especially middle-class families, to join. This scheme also makes it a safe option for small investors who want a stable income with a small investment.
Two types of accounts can be opened under this scheme: single and joint. An individual can invest a maximum of ₹9 lakh, while opening a joint account increases this limit to ₹15 lakh. The monthly income earned through a joint account also increases, which is beneficial for the family.
Currently, the Post Office MIS interest rate is 7.4% per annum. If you invest ₹5 lakh, you will earn approximately ₹3,083 per month. This amount increases to ₹5,550 with an investment of ₹9 lakh. This scheme is excellent for those who want a fixed and regular income.
Disclaimer: This content has been sourced and edited from TV9. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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