Post Office MIS Scheme: You can open this account jointly or individually. You might make more money and receive additional benefits when you register a joint account.
Post Office MIS Scheme: The Post Office Monthly Savings Scheme (also known as the Post Office Monthly Income Scheme 2024) may be a great option for you if you’re looking to invest in a plan that will protect your money while also providing you with a steady income. The wonderful part about this program is that your investment is 100% safe no matter how much you put in. You also continue to receive monthly interest on the investment in addition to this.
It is possible to open a Post Office MIS account alone or jointly. The deposit limit on this account rises for you if you open it with your brother, wife, or any other relative. You gain additional advantages from this. Under such circumstances, you can use this strategy to earn Rs 5,55,000 while relaxing at home. Recognize the specifics
Post Office MIS Scheme,Interest income is generated each month.
The Post Office Monthly Savings Plan is a deposit-based program. This generates income on a lump sum deposit basis each month. The post office savings account receives monthly payments for the interest earned on the account. You can withdraw the money you deposited after five years. After the account matures, you can start a new account if you’d like to continue taking benefit of the plan.
Post Office MIS Scheme,both a single and a joint account
How do you plan to get $5,55,500? Recognize the computation
Interest is now paid at a rate of 7.4% on the Post Office Monthly Savings Scheme. You will receive 9,250 rupees per month at an interest rate of 7.4% if you and your spouse put 15 lakh rupees in it. A guaranteed annual income of 1,11,000 rupees will result from this. 5,55,000 x 1,111,000 = By doing this, the combined amount of interest you will earn in five years will be 5,55,000 rupees.
However, you can only deposit up to 9 lakh rupees if you open this account as a single account. In this instance, your monthly interest payment will be 5,550 rupees. By doing this, you can make 3,33,000 rupees in five years solely from interest, or 66,600 rupees in interest in a year.
Are you aware of who can create an account?
The Post Office Monthly Income Scheme allows any national to open an account. It is also possible to open an account in a child’s name. The child’s parents or legal guardians may open an account in his name if he is younger than ten years old. The child may also be granted the ability to manage the account on his own once he turns ten years old. You need to have a post office savings account in order to open a MIS account. Presenting your PAN card and Aadhaar card as identification is required.
