Superhit Deposit Scheme: There is a superhit government scheme of the government. In which if you invest lump sum, you will start getting guaranteed monthly income.
This scheme is Post Office Monthly Income Scheme (Post Office MIS). Market fluctuations have no effect on your investment in this scheme. In this your money remains completely safe. Investment has to be made only once in MIS account. Its maturity is 5 years.
₹3,083 monthly income on ₹5 lakh deposit
Monthly income is guaranteed in the Post Office MIS Scheme. Single account holders can deposit a maximum of Rs 9 lakh in this scheme. 7.4 percent annual interest is being given on this scheme. It is paid on quarterly basis. According to MIS Calculator, if you deposit Rs 5,00,000 in lump sum, then you will get an income of Rs 3,083 every month. That means, you will get Rs 36,996 from interest annually. If you open a joint account, you can deposit a maximum of Rs 15 lakh in lump sum.
Maturity of Post Office MIS is five years, there can be premature closure in it. However, you can withdraw money only after completion of one year from the date of deposit. According to the rules, if money is withdrawn between one year and three years, then 2 percent of the deposit amount will be deducted and returned. If you withdraw money before maturity after 3 years of account opening, then 1 percent of your deposit will be deducted and returned.
Easy to open account
Any citizen of the country can open Post Office MIS. Account can also be opened in the name of the child. If the child is below 10 years of age, then the account can be opened in his name on behalf of his parents or legal guardian. When the child turns 10 years old, he can get the right to operate the account himself. Let us tell you, for MIS account, you should have a savings account in the post office. You will have to provide Aadhar Card, PAN Card for ID proof.
Keep in mind 5 special things about the scheme
- You can also transfer MIS account from one post office to another.
- On completion of maturity i.e. five years, it can be extended for further 5 years.
- There is facility of nomination in MIS account.
- In MIS, two or three people can open a joint account. The income received from this account is given equally to every member.
- Joint account can be converted into single account at any time. Single account can also be converted into joint account. To make any change in the account, a joint application has to be given by all the account members.
