In today’s time, investing money has become very important. Everyone wants to invest their money in the right place so that they do not have to depend on anyone in the future during tough times. Some people invest in the stock market, some trust government schemes, while others go for options like savings accounts or fixed deposits.
Many people look for a scheme where their money stays safe and they also get good returns. If you are also looking for such a scheme, then this one may be the right choice for you. The best part is—you only need to invest once, and you can earn more than ₹9,000 every month as interest. Let us now tell you what this scheme is and how you can invest in it.
Invest in the Post Office Monthly Income Scheme (MIS)
Many people want to invest in a place where their money stays safe and gives regular returns. That’s why post office schemes are quite popular. One such scheme is the Post Office Monthly Income Scheme (MIS). It is a government-backed scheme that offers both safety and a steady monthly income.
Current Interest Rate and Tenure
At present, the scheme offers an interest rate of 7.4% per year. The maturity period is 5 years. This means your money will stay invested for five years. Also, you cannot withdraw your money for the first one year after opening the account. The good thing is that you can start this scheme with just ₹1,000.
How to Invest in MIS?
The MIS is a one-time investment scheme. You have to deposit the entire amount in one go. If you are opening a single account, you can deposit up to ₹9 lakh. In case of a joint account, you can invest up to ₹15 lakh.
Once the account is opened, you will start receiving monthly interest from the second month onwards. This interest will be given to you every month until the scheme ends. But remember, if you don’t withdraw the monthly interest, it will not earn any extra interest.
Monthly Income You Can Earn
If you invest ₹15 lakh in a joint account, you will get about ₹9,250 every month as interest. This monthly income is fixed and will continue until the end of the 5-year period. This can be a good source of regular income for many people.
How to Open an Account?
Opening an MIS account is easy. Just visit your nearest post office with your identity documents. Fill out the required form, submit the investment amount, and your account will be opened. After that, your monthly interest will start coming in from the second month.
Why Choose Post Office MIS?
This scheme is safe, simple, and offers fixed income. It is ideal for people who do not want to take risks with their money. It is especially helpful for senior citizens, homemakers, or those looking for a regular source of income. Since the scheme is backed by the government, there is no risk of losing money.