Earn ₹5,550 Monthly Fixed Interest with Post Office Scheme
Monthly Income Scheme: Post offices offer various accounts, including Time Deposits (TD), Recurring Deposits (RD), Monthly Income Scheme (MIS), Public Provident Fund (PPF), and Sukanya Samriddhi Yojana, among others. Today, we will tell you about a post office scheme that guarantees a fixed monthly interest of ₹5,550 on your investment. This interest will be credited directly to your bank account.
It is the Post Office MIS (Monthly Income Scheme). The Post Office is currently offering an annual interest rate of 7.4 percent on its Monthly Income Scheme. You can open an account in this scheme with as little as ₹1000. Under this scheme, a maximum of ₹9 lakh can be deposited in a single account, while the limit for a joint account is ₹15 lakh. A joint account can include a maximum of three people.
This scheme matures in 5 years. Upon maturity, all the money deposited in your MIS account is transferred to your bank account. To open an account in the Monthly Income Scheme, you must have a savings account at the post office. If you invest a lump sum of ₹9 lakh in the Post Office Monthly Income Scheme, you will start receiving a fixed interest of ₹5,550 every month for 5 years.
