Diabytes
Post Office Monthly Income Scheme News
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With an alluring promise of assured monthly returns, the Post Office Monthly Income Scheme has become a beacon of financial stability for retirees.
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The Post Office Monthly Income Scheme allows you to invest a lump sum amount and receive a regular monthly pension sourced from the interest on your deposited sum.
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Post Office Monthly Income Scheme comes with a lock-in of five years
India Post is offering an interest rate of 6.7 per cent
The maximum investment ceiling is Rs 4.5 lakh per individual
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While the government has maintained the rate at 6.6 percent, it is higher than several bank fixed deposit rates.
The Post Office Monthly Income Scheme assures investors fixed returns at the rate at which their money was initially invested.
The Post Office MIS account can be terminated after five years from the date of opening.
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The Post Office Monthly Income Scheme also assures fixed returns to investors at the initial rate of investment.
By submitting the necessary documents, an account under this scheme can be opened at the nearest post office.
Interested investors who want to open an MIS account should keep in mind that the minimum amount required to open the account is Rs 1,000.
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Investors can open an account in Post Office Monthly Income Scheme with a minimal investment.
An investor can open an account in MIS policy by investing a minimum of Rs 1,000.
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Children above the age of ten can also open an account in their name.
If you open this special account (Post Office Monthly Income Scheme) in your children's name, you will be able to pay tuition fees with the interest you will receive each month.
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A one-year to three-year Post Office Time Deposit (TD) now pays 5.5 percent interest.
The current rate of interest on Post Office Recurring Deposits (RD) is 5.8%.
The interest rate on the Post Office Monthly Income Scheme (MIS) is currently 6.6 percent.
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The Post Office Monthly Income Scheme has a five-year lock-in period, after which you can opt to withdraw or reinvest your money.
Post Office Monthly Income Scheme allows you to invest up to Rs 4.5 lakh individually or Rs 9 lakh together.
An investor who invests Rs 4 lakh in this scheme will receive a monthly income or return of Rs 2000.
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A one-year to three-year Post Office Time Deposit (TD) earns 5.5 percent interest.
You can currently earn 5.8% interest on a Post Office Recurring Deposit.
The interest rate on the Post Office Monthly Income Scheme (MIS) is currently 6.6 percent.
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The 5.5% interest rate is being offered to 1 year to 3 years time deposit (TD) of the post office and if you invest in it, then your money will double in about 13 years.
The 5.8 percent interest on the Post Office Recurring Deposit (RD) is being offered, if the money is invested and it will double in about 12 years.
The 6.6 percent interest is given on the Post Office Monthly Income Scheme (MIS) if the money is invested and it will double in about 10 years.
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Under this scheme, you can open a single or joint account and deposit a lump sum and you can earn money based on the investments.
Also, there is a 100 percent guarantee of government security on your investment and any Indian citizen can invest in the Post Office Monthly Income Scheme.
A maximum of Rs 4.5 lakh can be invested in a single count, while a maximum of Rs 9 lakh can be invested in a joint account.
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