Post Office Monthly Income Scheme-MIS: Everyone saves something or the other these days, and for this, they invest somewhere. People think of investing in a place where the money is safe and gets good returns. At the same time, it is necessary to arrange for a pension in old age. Here we are going to tell you about such a scheme of the post office, through which you can arrange for a pension in old age. The Post Office Monthly Income Scheme (Post Office Monthly Income Scheme-MIS) is very useful for this. By investing money in this scheme, you can arrange a fixed amount every month.
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With how much money can you open an account in the Post Office Monthly Income Scheme
In this scheme of the post office, savings schemes are being run for every age and every class, which give strong returns. Along with this, there is security from the government on the investment. This is an excellent investment option. Investing in this gives a fixed income. You can open an account in the Post Office Monthly Income Scheme with just Rs 1000.
Rules for opening an account
- Any person above 18 years of age can open an account.
- A joint account can be opened in this.
- A minor and mentally challenged person can open an account.
- An account can be opened by investing a minimum of Rs 1000.
- Interest is received at the rate of 7.4 percent on investment.
- The duration of this scheme is 5 years.
Rules for deposit and interest payment in the scheme
Under this scheme, a maximum of Rs 9 lakh can be deposited in a single account. At the same time, a maximum of Rs 15 lakh can be deposited in a joint account. Interest on maturity starts one month after opening the account. One has to invest once in this scheme, and after that, a fixed amount is received every month.
Invest once in POMIS and get a fixed amount every month
In the Post Office Monthly Saving Scheme (POMIS), one has to invest once and get a fixed amount every month. The account opened in this scheme can be closed after 5 years. If the account holder dies before maturity, the account can be closed. The amount deposited in it is given to the nominee or successor of the account holder.
How to get 5500 rupees every month
By depositing a lump sum amount in this scheme, you can earn 5500 rupees every month as interest. Now, suppose you deposit a maximum of 9 lakh rupees in the scheme and get 7.4 percent interest in the scheme. With this, you can earn 5500 rupees every month. At the same time, you can invest up to a maximum of 15 lakh rupees in a joint account, through which you can earn 9,250 rupees every month.
This is how you can open an account
In the post office scheme, interest can be taken on a quarterly, half-yearly, or yearly basis. To open an account in this government scheme, you can open an account in the nearest post office with the necessary documents. You can take the form from the post office and submit it along with the KYC form and PAN card.
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What will happen if the account is closed before maturity?
If the account holder closes the account opened under the scheme within 3 years, then there will be a loss. According to the rule, 2 percent of the invested amount will be deducted, and the amount will be given. If the account is closed between 3 to 5 years, then 1 percent of the amount will be deducted and given.
