If you want to earn Rs.5,500 in per month, Invest in this scheme
Post Office Scheme: Every Bank have their special schemes. Through these schemes, banks are giving interest rates to their customers. So, here we discuss the post office scheme, which can give you the best interest rate. The MIS scheme of the post office is getting 7.4 percent annual interest. An account can be opened in this scheme with a minimum investment of Rs 1000.
Under the MIS scheme, a maximum of Rs 9 lakh can be deposited in a single account. Whereas, a maximum of Rs 15 lakh can be deposited in a joint account. A maximum of 3 people can be included in the joint account of the MIS scheme. Let’s say that in this scheme you have to invest only once, i.e., you have to deposit a lump sum in it. After which, your account starts getting interest every month for 5 years.
Post Office Monthly Income Scheme matures in 5 years. All the money invested by you gets back on maturity. If you deposit a maximum investment amount of Rs 9 lakh in this post office scheme, then you will get a fixed interest of Rs 5550 every month for 5 years. These interest payments go directly to your savings account.
To start investing in the Post Office’s MIS Scheme, you must have a Post Office Savings Account. If you don’t have a savings account in the post office, then you have to open a savings account first, after which you can open an account in the monthly income scheme because the interest money is transferred to the savings account of the post office itself.
