Saturday , July 13 2024

Post Office MIS: On investing Rs 15 lakh, you will get a guaranteed monthly pension of Rs 9250; Learn calculation

Post Office Monthly Income Scheme (MIS) provides monthly income after a one-time investment. For investors looking for a risk-free investment option in the market with guaranteed returns, Post Office MIS can be an option as it offers monthly income. One can invest Rs 9 lakh individually or Rs 15 lakh in a joint account for five years and get assured income. After the maturity period of five years, an investor can withdraw his principal amount. Know what else Post Office MIS offers to its account holders-

Post Office Monthly Income Scheme (MIS): As an investor, there is nothing more enjoyable than having an investment option that can give you guaranteed returns. A regular income assures you that your regular monthly expenses are covered and helps you achieve financial freedom to a great extent. Post Office Monthly Scheme (MIS) can be a good option for investors looking for guaranteed returns and regular monthly income. Since the post office scheme is not market linked, one can withdraw their money even after the scheme matures in five years.

In this scheme, one can invest Rs 9 lakh in one go and Rs 15 lakh in a joint account for a maturity period of five years.

From that investment, one can get Rs 9250 in joint account and Rs 5550 in individual account.

In the article we know how this is possible through calculations.

But before we move on to that part, let's know the basics of the plan.

Post Office Monthly Income Scheme (MIS): Types of Accounts
One can have a single adult or a joint account (up to 3 adults) under Post Office MIS. Guardians can also open accounts for minors aged 10 years and above.

Minimum and Maximum Investment

MIS account can be opened with a minimum of Rs 1000 and in multiples of Rs 1000.

The maximum investment in MIS scheme is Rs 9 lakh in single account and Rs 15 lakh in joint account.

Rate of interest

Post Office MIS offers an interest rate of 7.4 per cent per annum payable monthly.

Interest is payable on completion of one month from the date of opening and so on till maturity.

The interest earned by the depositor is taxable.


The maturity period of the scheme is five years from the date of MIS account opening.

The account can be closed before the five-year period, but to do so a percentage of the principal amount will have to be paid.

Post Office Monthly Income Scheme (MIS): How to get Rs 9250 monthly income?

If you want to get Rs 9250 monthly income in MIS scheme, you have to opt for joint account and utilize the entire deposit limit of Rs 15 lakh.

If you invest Rs 15 lakh in the scheme, then at 7.4 percent interest rate you will get a monthly income of Rs 9250 for five years.

However, if someone has an individual account and invests Rs 9 lakh in MIS, they will get a monthly income of Rs 5550. Once the plan matures, you can get your principal amount back.