Post Office MIS Update: Investing in a monthly income system for post offices has always been a traditional and preferred investment tool for Indians. There are many such systems in this as well, which provide good return on investment as well as other benefits. Post Office MIS account is a good savings option to earn good profits with low risk. In this you can take advantage of it in the form of interest by investing money once a month. There are many benefits to using this account (Post Office Savings Scheme).
Post Office MIS update
Post Office Monthly Income Scheme account can also be opened in the name of children over 10 years. If you open this Post Office MIS account in your children’s name, then the interest rate you will receive each month, you can use it against tuition fees or use it in other investment instruments. Let us know the full details of this schedule.
Where and how will the account be opened?
- You can open this Post Office (Post Office Monthly Income Scheme Benefits) by visiting any post office.
- A minimum of Rs 1000 and a maximum of Rs 4.5 lakh can be deposited.
- The interest rate under this Post Office Monthly Income Scheme is 6.6 percent.
- If the child’s age is more than 10 years, you can open this account (MIS Benefits) in his name and if it is lower, the parent can open this account in his place.
- The term of this plan is 5 years. After that it can be switched off.
The calculation will be like this
If your child is 10 years old and you deposit 2 lakh Rs in the post office’s MIS account in his name, then in the Post Office Monthly Income Scheme, with an interest rate of 6.6%, every month. Your interest rate will be 1100 Rs. In five years, this interest will amount to Rs 66,000 and in the end you will also get a return of Rs 2 lakh. This way you get 1100 rupees for a small child, which you can use for his studies. This amount can be a good help for the parents.
The post office’s monthly income system
Posten gives customers the advantage of many attractive savings systems. These systems provide good returns along with safe investment. (Monthly Income Scheme) is one such offer from the post office. By investing money in this Post Office Monthly Income Scheme, you can secure an income of up to Rs 2,500 every month. This Post Office MIS account can be used from any branch of the Post Office.
This Post Office Monthly Income Scheme currently offers an interest rate of 6.6 percent per year, which is higher than a normal savings account or fixed deposit (FD). In the Post Office Monthly Income Scheme, interest is paid to the customer every month. This feature makes this Post Office MIS account especially for those who have retired.
The scheme can be extended after 5 years
If you want in Posten’s Monthly Income System, you can increase it after 5 years. In this system, an account can be opened with Rs 1000 and for each monthly income you have to invest Rs 4.9 lakh in a single account and Rs 9 lakh in a joint post office’s MIS account. In this you are given an interest rate of 6.6% per year. You are given the opportunity after 5 years, you can withdraw the premium or you can continue with the plan.
2475 rupees will be available every month: Post Office MIS Update
The specialty of this Post Office Monthly Income Scheme account is that it can be opened as a single or joint account with 3 adults. If you deposit Rs 3.50 lakh into this Post Office MIS account, you will receive Rs 1925 each month at the current rate. This is a huge sum for the children who study in school.
With this interest money, you can easily pay school fees, tuition fees, pen copy expenses. When you set the maximum limit for this Post Office MIS account, ie. 4.5 lakhs, you can benefit from Rs 2475 every month! The Post Office Monthly Income Scheme is a very good system.
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