post office It has been providing banking services to the countrymen for the last several decades. Post Office is running many types of savings schemes. Post office savings schemes are quite popular among a large section of the country. Even today, middle class and lower class people trust the post office schemes the most and earn huge profits by investing. Today we are going to tell you about such a scheme of the post office, in which you have to invest only once and fixed interest money starts coming into your account every month. Yes, we are talking about the monthly income scheme of the post office.
7.4 percent interest is available on monthly income scheme
At present, 7.4 percent annual interest is being given on the Monthly Income Scheme (MIS) of the post office. In this scheme you can open an account with a minimum of Rs 1000. Under the MIS Scheme, you can deposit a maximum of Rs 9 lakh in a single account and a maximum of Rs 15 lakh can be deposited in a joint account. Maximum 3 people can be included in the joint account of this scheme. Interest is paid every month in the Post Office MIS Scheme. This interest money is transferred directly to your bank account.
Post Office’s MIS scheme matures in 5 years
Post Office Monthly Income Scheme matures after 5 years from the date of account opening. After maturity, all your investment money is also transferred to your account. Let us tell you that to open a SIS account in the post office, you must have a post office savings account. If you do not have a savings account in the post office, then you will have to open a savings account first, only after which you can open an account in the Monthly Income Scheme because the interest money is transferred to the post office savings account only.
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