Post Office MIS – 2022: Even today, a large part of the country trusts the post office. Posten had come up with different arrangements for its customers. One of these systems is the Post Office Monthly Income Scheme. This is also done by MIS schedule in plain language. In this system, investors deposit money at once, after which they receive monthly income.
Post Office MIS – 2022
Under this post office system, you can deposit money in 100 multiples of at least 1000. If you only have one Post Office Monthly Income Scheme account, you can only deposit money up to Rs 4.5 lakh. At the same time, on a joint account, this limit is up to Rs 9 lakh. In this, a maximum of three people can open an account at the same time.
Rules for opening an account in the Post Office Monthly Income Scheme
- You must be at least 18 years old.
- This account can be opened by a minimum of one person and a maximum of three people.
- The account of a person whose mental state is not good can not be opened.
According to the postal service’s monthly income system, you can open its account for five years. After depositing money in this system, you can not withdraw money for at least one year. In Posten’s Monthly Income System, you receive a deduction of 2% of the capital amount for withdrawals between 1 and 3 years. On the other hand, after 3 to 5 years, one percent of your principal amount will be deducted after you withdraw it.
You will get so much money after depositing 50 thousand rupees
In Posten’s monthly income system, you receive 6.6% interest every month. If you deposit 50,000 rupees into your account at one time, you will receive approximately 275 rupees each month and 3300 rupees annually. In five years, you will receive a total of Rs 16,500 in interest. If you deposit more money, you will get more money.
Here’s how to calculate: Post Office MIS – 2022
If the child is 10 years old and you deposit 2 lakh rupees in his name at the post office, then your interest rate will be 1100 Rs every month with the current interest rate of 6.6 percent! In the Post Office Monthly Income Scheme, this interest rate in five years will be a total of 66 thousand rupees and in the end you will get a return of 2 lakh rupees. This way for a small child you get 1100 Rs that you can use for his studies. This amount can be a good help for the parents.
Three people can open an account at the same time- In this system for post offices, three people can open a joint account at the same time. If you deposit 3 lakh 50 thousand rupees into this Post Office Monthly Income Scheme account, you will get 1925 rupees every month.
how much can you deposit
- You can deposit at least 1,000 Rs.
- A maximum of Rs 4.50 lakh can be deposited in an account and Rs 9 lakh in a joint account.
- All shareholders should have an equal share of the investment in a joint account.
The investment matures in so many years: Post Office MIS – 2022
After 5 years of account opening, the account can be closed by applying with the passport book and applying to the relevant post office. In the event that the account holder dies before the due date, the account can be closed and the deposited amount can be returned to the trustee or heir to the account holder for the Post Office Monthly Income Scheme. Interest is paid until the repayment is returned.
Rules for closing the account before the due date
There will be no possibility to withdraw any deposit within one year after opening the account. If the account is closed within one to three years from the opening date, the balance amount will be refunded to you after deduction of an amount corresponding to 2% of the capital amount. If the account is closed within three to five years from the opening date, the balance amount will be refunded to you after deduction of an amount corresponding to 1% of the capital amount. To close the account before the due date in the Post Office’s monthly income system, you must fill in and send in the application at the respective post office.
Also read – Income tax refund: The IT department deposited Rs 1.50 lakh crore in the taxpayers’ account, check this out
UP Kanya Sumangala Yojana Update: Getting one-time financial support of 5 thousand, know how