New Delhi: Investments in Post Office schemes are popular among investors seeking security and high returns. The organisation has been rolling out several schemes from time to time to offer investors a variety of options to choose from.
In one such monthly income scheme (MIS), the Post Office offers a regular pension after investing a lump sum amount in the plan. An investor also gets maturity benefits in this scheme. Also Read: Is Battlegrounds Mobile India sharing data with China? Check what Krafton has to say
What is Post Office MIS scheme?
In the Post Office Monthly Income Scheme Account (MIS), investors can put their money in multiples of 1000 or 100. However, the minimum investment one can invest in this scheme is Rs 4.5 lakh. The minimum investment under this scheme is Rs 1000.
Three investors can open a joint account in the scheme to make the most of it. The maximum amount that can be invested in a joint account under this scheme is Rs 9 lakh.
Interest rate offered by Post Office MIS scheme
At present, the Post Office MIS scheme is offering an interest rate of 6.6 per cent. It is important to note that Post Office is offering simple interest, instead of compound interest in the scheme.
How to get Rs 3300 by investing just Rs 50 thousand?
Investors can earn Rs 3300 as a yearly pension by investing just Rs 50 thousand once, according to the MIS calculator. Investors will get a total of Rs 16500 as interest in five years.
Similarly, if someone deposits 1 lakh, then he will get Rs 550 every month or Rs 6600 every year or Rs 33000 in five years. On depositing 4.5 lakhs in this scheme, investors will get Rs 2475 monthly or Rs 29700 annually or Rs 148500 in interest. Also Read: Proud moment for India! This Indian airport wins global award for service quality