Post Office MIS Scheme: Do this to get Rs 9250 every month

Post Office Monthly Income Scheme(MIS): Generally, investors look to invest their money in projects that they feel are guaranteed. In particular, regular income ensures that you meet your regular monthly expenses and helps you achieve greater financial independence. In Post Office Monthly Scheme (MIS) people can get Rs 9250 every month.

Also people think that the money they have invested should be safe. For investors who want guaranteed income and regular monthly income, Post Office Monthly Scheme (MIS) is a good option. As the post office scheme is not linked to the market, investors can withdraw their money after the scheme matures in five years.

An individual can invest Rs 9 lakh in one time and Rs 15 lakh in a joint account for a maturity period of five years. With that investment you can get Rs 9250 in joint account and Rs 5550 in individual account per month. An individual can have a single or joint account (up to 3 adults) under Post Office’s MIS scheme. A parent can open this account for minor children aged 10 years and above.

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Maximum investment is Rs 15 Lakh:

A MIS account can be opened with a minimum of Rs 1000 and in multiples of Rs 1000. The maximum investment in MIS scheme is Rs 9 lakh in a single account and Rs 15 lakh in a joint account.

Interest rate of post office Monthly Income Scheme (MIS scheme):

Post Office MIS offers an interest rate of 7.4 percent per annum payable monthly. Interest will be paid on completion of one month from the date of commencement and till maturity. The interest earned by the depositor is taxable. The maturity period of the scheme is five years from the date of account opening. The account can be closed before the five-year period, but the principal has to be paid as a percentage to do so.

Also Read: Post Office Best Scheme: Invest Rs 10,000 And Get Rs 4.4 Lakh

How to get monthly Income:

If you want to get a monthly income of Rs 9250 in MIS scheme, you should opt for a joint account and utilize the full deposit limit of Rs 15 lakh. If you invest Rs 15 lakh in this scheme, at an interest rate of 7.4 per cent, you can get a monthly income of Rs 9250 for five years.

However, if one has a personal account and invests Rs 9 lakh in MIS, he will get a monthly income of Rs 5550. Once the project matures, you can get back to the original.