Many people had to face financial difficulties during the Corona period. Many people also had to lose their jobs. In such a situation, it is very important to save so that there is no problem in the future. The government also runs many types of savings schemes for the convenience of the people.
By investing in these schemes, you can accumulate a substantial bank balance for yourself. You also get excellent returns on savings if invested in the right plan. One advantage of investing in government schemes is that people’s money is safe in this. Today we are going to tell you about one such government scheme in which you get many benefits by investing.
One advantage of investing in this scheme is that in this you also get a lump sum amount every month. In such a situation, if there is any kind of financial problem, this money can be very useful for you. Let us tell you about this government scheme.
You have to invest only once
The government scheme we are telling you about is of the post office. You get good interest in the Monthly Income Scheme Account (MIS) of the post office. In this scheme, you can invest a fixed amount at one go. In this scheme, you can earn monthly income in the form of interest every month by investing a lump sum amount once.
The interest rate for January-March 2023 has been fixed at 7.1 percent. However, the government sets the interest rate on a regular basis. The lock-in period for Post Office MIS is 5 years. You can withdraw the invested amount after maturity or reinvest it.
Finance Minister Nirmala Sitharaman announced in her budget speech 2023 that the maximum investment limit in this scheme will be increased from Rs 4.5 lakh to Rs 9 lakh for single account and Rs 15 lakh for joint account. The post office currently shows the past investment limit.
In this way you will get 9 thousand rupees every month
After increasing the investment limit in this post office scheme, Rs 15 lakh can be invested in a joint account. After investing Rs 15 lakh, a monthly income of around Rs 9,000 (Rs 8,875) can be earned as interest. Under this, all the joint holders will have an equal share in the investment.
Interest will be paid on completion of one month from the date of opening in the same manner till maturity. The scheme for a single account will fetch a monthly interest income of Rs 5,325 for a Rs 9 lakh deposit, while a deposit of Rs 15 lakh in a joint account will fetch a monthly interest of Rs 8,875.
These benefits are available in the plan
The good thing in MIS is that even two or three people can open a joint account together. The income received in return of 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 kind of change in the account, a joint application has to be given by all the account members.
