Post Office Monthly Income Scheme: Goddess Lakshmi, the goddess of wealth, is worshiped on the day of Diwali. In such a situation, Diwali is considered very good for investment (Diwali 2023 Investment Tips).
Although there are many investment options available in the market, but even today people prefer to invest in small savings schemes of post office. Today we are telling you about a scheme by investing in which you can get guaranteed returns every month after retirement. The name of this scheme is Post Office Monthly Income Scheme. After retirement, if you want to get a fixed amount every month like pension, then this scheme can be a better option for you. We are telling you about the details of the monthly income scheme.
Know the details of Monthly Income Scheme-
Under the Post Office Monthly Income Scheme, you can get huge returns by investing lump sum. Under this scheme you can open a single or joint account. Under joint account, two or three people can open an account together. Any person above 10 years of age can open an MIS account. Under this scheme you can invest from Rs 1,000 to Rs 15 lakh. The maximum limit of investment in a single account is Rs 9 lakh.
This much interest rate is available under the scheme-
The government decides the interest rates of small savings schemes from time to time. These rates are applicable on every quarterly basis. The third quarter of the financial year 2023-24 is getting the benefit of interest at the rate of 7.40 percent. For example, if you invest Rs 15 lakh in this scheme, you will get Rs 9,250 as interest every month. You can withdraw this interest on every month, three months, six months or yearly basis. In such a situation, you can get a total of Rs 5,55,000 as interest in five years.
Account can be closed before maturity
It is worth noting that under the Post Office Monthly Income Scheme, you can invest your money for a total of 5 years. Under this scheme you can extend your investment for 5-5 years. At the same time, if you want to close your account before 5 years, then you can do so. If you close your MIS account between one and three years, 2 percent of your total amount will be deducted. Whereas between 3 to 5 years, 1 percent of the total amount will be deducted.
