Post Office Scheme: The Post Office is running various types of savings schemes keeping in mind the different needs of its customers. Many types of savings accounts including RD, TD, MIS, PPF, Kisan Vikas Patra are opened in the post office. Here we will learn about MIS i.e. Monthly Income Scheme of Post Office. Post Office Monthly Income Scheme is still giving annual interest of 7.4 percent. In this scheme, you have to invest only once, after which you continue to get fixed interest with guarantee every month for 5 years. If you open an account under this scheme with your wife or any other member of the household, then you can get a maximum fixed interest of up to Rs 9250 every month.
Maximum Rs 15 lakh can be deposited in joint account
You can open an account in MIS with a minimum investment of Rs 1000. Under MIS Scheme, you can open both single and joint accounts. A maximum of Rs 9 lakh can be deposited in a single account, while a maximum of Rs 15 lakh can be deposited in a joint account. Under the Post Office MIS Scheme, you can register the names of maximum 3 people in the joint account. If you invest Rs 15 lakh with your wife in the joint account of this scheme, then you can start earning a good amount every month just from the interest.
You will get fixed interest of Rs 9250 every month
The interest money received under this scheme is transferred directly to your bank account. If you, along with your wife, deposit Rs 15 lakh in the MIS scheme of the post office, then you will get a fixed interest of Rs 9250 every month. Post Office MIS Scheme matures in 5 years. 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.
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