Post Office Monthly Income Scheme Account: Post Office Monthly Income Scheme Account: Post Office Scheme is also a very good option for investment. Interest is available every month in Post Office Monthly Income Scheme (POMIS). How much profit will you get by investing how much money in this scheme? How to open a monthly account to avail this scheme? Let us know the answers to these questions in this article.
Post Office Monthly Income Scheme (Post Office MIS): If you are looking for investment scheme options for guaranteed returns, then you can also invest in Post Office scheme. In this scheme you can avail high returns without any risk.
Investors also get guaranteed returns in Post Office Monthly Income Scheme (Post Office MIS). In this scheme you can open single or joint account.
Apart from this, in this scheme you do not have to invest repeatedly i.e. you have to invest in lump sum. At present the annual interest rate in this scheme is 7.4 percent.
How to open account in Post Office MIS
You can open an account by going to your nearest post office. To open an account you have to fill the KYC form and attach a copy of PAN card.
If you open a joint account, you will also have to attach the PAN card of the other member.
Know about Post Office Monthly Income Scheme here
- In this scheme the person gets interest every month. As soon as the investor opens the account and till the account matures
- Interest is added at the end of every month.
- The interest in this scheme is revised every quarter.
- The tenure of this scheme is 5 years.
- The investor cannot make any withdrawal from the account for 1 year after the account is opened.
- If the investor closes the account before 3 years, an amount of 2 percent is deducted from the principal amount. There is a deduction of 1 percent on closing the account after 3 years.
In this scheme, you can invest a maximum of Rs 15 lakh and a minimum of Rs 1,000 in an account.
Post Office MIS Calculator
If you have invested Rs 5 lakh in the post office scheme, then you will get interest income of Rs 3,083 every month at the rate of 7.4 percent interest. If you calculate in this way, you will get interest income of Rs 36,996 in one year.
