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Post Office MIS 2024: Many times you have a lump sum amount, but there is no source of regular income. People often face this problem in old age after retirement. To provide regular income to such people, the government has prepared many schemes. One of these schemes is Post Office Monthly Income Scheme. From the name of the scheme itself, you must have understood that this scheme is going to give income every month.
This is a deposit scheme in which interest is paid every month. This scheme provides the facility to open both single and joint accounts. If you want to earn income through this scheme after retirement, then open an account with your wife. The investment limit in a joint account is higher. In such a situation, you can earn more than Rs 5 lakh from this scheme while sitting at home. Know how?
How much amount can be deposited in a joint account?
In this post office, there is monthly income on lump sum deposit. In this, you can deposit up to 9 lakh rupees in a single account and 15 lakh rupees in a joint account. Currently, this scheme gives interest at the rate of 7.4 percent. Obviously, if more is deposited, the income will also be more. Let us tell you that in this scheme, apart from wife, you can also open a joint account with brother or any family member. Since the joint income of husband and wife is a part of the same family, it is advisable to open an account with the wife to get more benefits.
This way you will earn more than 5,00,000
At present, the Post Office Monthly Savings Scheme is offering an interest rate of 7.4%. If you deposit Rs 15 lakh in it along with your wife, then you will get an income of Rs 9,250 every month at the rate of 7.4% interest. In this way, there will be a guaranteed income of Rs 1,11,000 per year. 1,11,000 x 5 = 5,55,000 In this way, both of you will earn Rs 5,55,000 in 5 years from interest alone.
If you open this account as a single account, you can deposit a maximum of Rs 9 lakh. In this case, you will get an interest of Rs 5,550 every month. In this way, you can get Rs 66,600 as interest in a year. 66,600x 5 = Rs 3,33,000, in this way, a total of Rs 3,33,000 can be earned as interest in 5 years through a single account.
The deposit amount is refunded after 5 years
The interest on the amount deposited in the account is paid every month in the post office savings account. During this period, the deposited amount remains completely safe. After 5 years, you can withdraw your deposited amount. If you want to take advantage of this scheme further, then you can open a new account after maturity.
Who can open an account?
Any citizen of the country can open an account in the Post Office Monthly Income Scheme. An account can also be opened in the name of a child. If the child is less than 10 years old, then his parents or legal guardians can open an account in his name. When the child turns 10 years old, he can also get the right to operate the account himself. For MIS account, you must have a savings account in the post office. It is mandatory to provide Aadhaar card, PAN card for ID proof.