Post Office Monthly Income Scheme: If you want to keep your money safe and get a guaranteed income every month, then Post Office Monthly Income Scheme (MIS) is a good option for you. This scheme is especially for those who want regular monthly returns with a safe investment.
To invest in a Post Office Monthly Income Scheme, you only have to deposit money once and get a fixed interest rate every month. Currently, the interest rate on this scheme is 7.4%. This means that if you invest ₹1 lakh, you earn around ₹6,333 per month. This monthly return is attractive compared to bank fixed deposits or other safe investment options.
Completely safe investment
This scheme is guaranteed by the government, meaning your investment is completely safe. The tenure of MIS is 5 years. During this period, regular returns will be credited to your account every month. The biggest advantage of post office MIS is that it proves profitable even in the long run. Investors do not have to worry about losing money due to market fluctuations.
Start investing with just ₹1,000 Investing in this scheme is easy and can be done at any post office branch. You can start investing with just ₹1,000 in the post office MIS. There are two options for opening an account under this scheme – a single account and a joint account. The maximum investment limit for a single account holder is ₹9 lakh, while for a joint account, this limit increases to ₹15 lakh.
How to earn ₹5,550 per month
If you invest ₹5 lakh in this scheme, you will earn ₹3,083 per month at an annual interest rate of 7.4%. If you invest ₹9 lakh, your monthly income will reach ₹5,550.
