In this government scheme, you will earn every month, money will also be completely safe.

The Post Office Monthly Income Scheme (MIS) is also included in the small savings schemes of the post office.

The Post Office Monthly Income Scheme (MIS) is also included in the small savings schemes of the post office. Let us know about this scheme in detail.

If you are thinking of investing in the coming days, then post office Savings Schemes (Saving Schemes) can do in. You definitely get good returns in these schemes. Together, investing in (Investment) The money made is also completely safe. if bank default (Bank Default) If it happens, then you get back only the amount of five lakh rupees. but the post office (Post Office) I am not like that. Apart from this, investment in post office savings schemes can be started with a very small amount. The Post Office Monthly Income Scheme (MIS) is also included in the small savings schemes of the post office. Let us know about this scheme in detail.

Rate of interest

At present, an interest rate of 6.6 percent is present in the Monthly Income Scheme of the Post Office. This interest rate is applicable from 1st April 2020. In this small savings scheme, interest is paid on a monthly basis.

investment amount

In the Monthly Income Scheme of the Post Office, a person can invest in multiples of Rs 1000. In this small savings scheme, a maximum of Rs 4.5 lakh can be invested in a single account and Rs 9 lakh in a joint account. A person can invest a maximum of Rs 4.5 lakh in the Monthly Income Scheme. This includes his share in the joint account. While computing the share of an individual in a joint account, each joint holder will have an equal share in the joint account.

Who can open account?

In this scheme of post office, one adult or up to three adults can open a joint account together. Apart from this, a guardian can also open an account on behalf of a minor or a person of weak mind in this small savings scheme. With this, a minor above the age of 10 years can also open an account in his own name.

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maturity

In the Monthly Income Scheme of the Post Office, the account can be closed after the expiry of a period of five years from the date of opening. For this, the person has to submit the appropriate application form along with the passbook at the respective post office. If the account holder dies before maturity, the account can be closed and the amount will be refunded to his/her nominee or legal heir. Interest will be paid up to the month preceding the month in which the refund is made.