Post Office: One time deposit 2 lakhs; Guaranteed income of Rs 13,200 per year, know full details


Post Office MIS: Monthly Income Scheme of the Post Office (Post Office MIS) is a great small savings scheme. In this scheme, you get guaranteed income every month on a lump sum deposit. The volatility of the market does not have any effect on your investment made in this scheme. In this your money is completely safe. You have to invest only once in MIS account. Its maturity is of 5 years. That is, after five years you will start getting guaranteed monthly income.


MIS Calculator: Rs 13,200 per year on deposit of 2 lakhs
According to the MIS calculator, if a person opens this account with a lump sum deposit of Rs 2 lakh, then after maturity, he will have an income of Rs 13,200 annually for the next five years for the next five years. That is, every month you will get Rs 1,100. In this way, you will get total interest of Rs.66,000 in five years. Post office MIS is currently getting 6.6% annual interest.

Account can be opened with Rs 1000

The account can be opened with a minimum investment of Rs 1,000 in the POMIS scheme. Both single and joint account can be opened. You can invest a maximum of Rs 4.5 lakh in a single account and up to Rs 9 lakh in a joint account. According to India Post, interest is paid every month in MIS. Any Indian citizen can invest in the Post Office Monthly Income Scheme.

The maturity of MIS is five years, there may be premature closure. However, you can withdraw money only after completion of one year from the date of deposit. According to the rules, if the money is withdrawn between one year to three years, then 2% of the deposit amount will be refunded. If you withdraw money at any time before maturity after 3 years of account opening, then 1% of your deposit amount will be refunded after deducting it.

Can be extended after maturity

You can also transfer MIS account from one post office to another post office. On maturity i.e. completion of five years, it can be extended for a further 5-5 years. Nomination facility is available in MIS account. This scheme money is completely safe. In MIS, two or three people together can also open a joint account. The income received in return of this account is given equally to every member. You can convert a joint account to a single account at any time. You can also convert a single account into a joint account.

How to open account
To open an MIS account, you must have aadhar card or passport or voter card or driving license for ID proof. You have to provide 2 passport size photographs. For address proof, ID card or utility bill issued by the government will be valid. By taking this document, you will have to go to the post office and fill the form of the Post Office Monthly Income Scheme (Post Office MIS). You can also download it online. Along with filling the form, the name of the nominee will also have to be given. To open this account, initially 1000 rupees have to be deposited through cash or cheque.