Nowadays, when it comes to investment, the stock market, mutual funds, or bank fixed deposits usually come to mind. However, there are many investment schemes that are less risky but provide guaranteed monthly interest. One such scheme is the Post Office Monthly Income Scheme (Post Office MIS Scheme).
The most important feature of this scheme is that if you invest in it, you will receive a fixed amount of interest every month. Additionally, if a husband and wife open a joint account, they can earn Rs. 9,250 every month. In this article, we will share all the details of the process.
How Does the Post Office MIS Scheme Work?
The Post Office Monthly Income Scheme (MIS) is like a fixed deposit. When you invest money in it, you get a fixed interest every month. The main difference is that you don’t get the interest at the end. Instead, you get it every month. For example, if you invest ₹15 lakh, you will get ₹9,250 every month as interest. This money can also be sent to your bank account. After 5 years, your full ₹15 lakh is returned to you. So, you earn money every month for 5 years, and your money is safe.
Why Is This Scheme a Good Option?
- This scheme is run by the post office and the Government of India. So, it is safe.
- You get fixed income every month.
- There is no risk of losing your money.
Other Benefits
- If a husband and wife open a joint account, they can earn more.
- You get your full money back after 5 years.
- You may also get tax benefits.
How to Open an Account?
To start this scheme, go to the nearest post office and open an account. You will need:
- Aadhaar card or PAN card
- Address proof, like an electricity bill or a ration card
- Passport-size photo
Bank account details
In conclusion, we can say that if you’re looking for a safe investment option with guaranteed returns, the Post Office Monthly Income Scheme is a great choice. Especially if a husband and wife open a joint account, they can earn around ₹10,000 every month.