Post Office Scheme: Monthly Income Scheme of the Post Office (Post Office MIS) is such a superhit small savings scheme, in which you have to invest only once. And in this you will have guaranteed income for life.
You should choose the investment very carefully amidst the risk of market volatility. You choose such an investment option where your money is completely safe and you also get guaranteed returns. Post Office Monthly Income Scheme (Post Office MIS) is such a superhit small savings scheme, in which you have to invest only once. The maturity period of MIS account is 5 years. That is, after five years you will start getting guaranteed monthly income. Let us know the details of this scheme.
Maximum investment of up to 9 lakhs in a joint account
Both single and joint account can be opened in POMIS scheme. The account can be opened with a minimum investment of Rs 1,000. You can invest a maximum of Rs 4.5 lakh in a single account. At the same time, the investment limit in the joint account is Rs 9 lakh.
There are many benefits available in MIS
In the post office MIS scheme, two or three people together can open a joint account.
The income received in exchange for this account is given equally to every member.
You can convert a joint account to a single account at any time.
– Single account can also be converted into joint account.
To make any changes in the account, a joint application of all the account members has to be given.
On maturity i.e. completion of five years, it can be extended for a further 5-5 years.
Nomination facility is available in MIS account. This scheme money is completely safe. There is a sovereign guarantee of the government on this.
Know the current interest rate
According to the information given on the website of India Post, the monthly income scheme is getting 6.6% interest annually. It is paid every month. You know that any Indian citizen can invest in the Post Office Monthly Income Scheme.
Special rule to stop premature
The maturity of the Post Office MIS scheme is five years, there may be premature closure. However, you can withdraw money only after completion of one year from the date of deposit in it. According to the rules of this scheme, ‘If the money is withdrawn between one year to three years, then 2% of the deposit amount will be refunded. If you withdraw money at any time before maturity after 3 years of account opening, then 1% of your deposit will be refunded after deducting it.
How to open MIS account?
To open an MIS account, you must have a savings account in the post office.
For this, you must have Aadhar card or passport or voter card or driving license etc. for ID proof.
For this you have to provide 2 passport size photographs.
For address proof, ID card or utility bill issued by the government will be valid.
By taking this document, you can go to the nearest post office and fill the form of the Post Office Monthly Income Scheme.
You can also download it online.
Fill the form and give the name of the nominee in it.
To open this account, initially 1000 rupees will have to be deposited through cash or cheque.
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