Open an account with your wife in the post office, you will get fixed interest of ₹ 8633 every month – with guarantee.

Post Office Schemes: Keeping in mind the needs of different sections of the country, the central government runs many types of savings schemes. Apart from government banks, these savings schemes are also run through post offices. Monthly Income Scheme or MIS is a government savings scheme, which is run through the post office. Today we will learn about this government scheme here. Along with this, we will also know how through MIS, you along with your wife can earn a fixed income of Rs 8633 every month.

7.4% annual interest is available on Post Office’s MIS Scheme

At present, 7.4 percent annual interest is being given on the Post Office Monthly Income Scheme. Under this scheme, you have to invest only once in lump sum. After opening the account, you start getting interest in the form of fixed income every month for the next 5 years. This interest money is deposited in your savings account every month. In this government scheme, you can open an account with a minimum of Rs 1000. But if you want to earn big money then you will have to invest big amount in it. Under single account, you can deposit a maximum of Rs 9 lakh in this scheme. Under joint account, you can deposit a maximum of Rs 15 lakh in this scheme.

How much money will have to be deposited to earn fixed interest of Rs 8633 every month?

If you invest Rs 14 lakh in this scheme along with your wife, then you will get fixed interest of Rs 8633 every month. Post Office MIS Scheme matures in 5 years. After maturity, all your investment money is also transferred to your account. The interest received under SIS scheme is transferred to your post office savings account only. This simply means that to invest in this scheme you must have a post office savings account. If you do not have a post office savings account, then first you will have to open a savings account, after which you can also open an MIS account.