Post Office Scheme | Post Office's great scheme, you will get 9,250 rupees every month with government guarantee, know how
Post Office Scheme | You get monthly income in Post Office Monthly Income Scheme. This scheme of the Government of India is being run by the post office. Under the Monthly Income Plan Scheme, you deposit money once and after that you will get money every month for 5 years. Postal schemes are risk free. It also gives you a guarantee of return. If you want regular income sitting at home, then you can invest in this scheme of the post office. The money invested in this will be available to you after 5 years of maturity.
How much do you need to invest?
If you want to earn Rs 9,250 every month through MIS scheme, then you have to invest Rs 15 lakh through a joint account. If you invest Rs 15 lakh in this scheme, then you will get a monthly income of Rs 9,250 for five years at an interest rate of 7.4%. If a single person has invested, then Rs 9 lakh can be invested. This will give you a monthly income of Rs 5,550. After completion of 5 years, you will get the principal amount back. MIS accounts can be opened for a minimum of Rs 1,000. Under the MIS scheme, a maximum of Rs 9 lakh can be invested in a single account and Rs 15 lakh in a joint account. The government is giving interest at the rate of 7.4% per annum. Every month, you will get monthly income based on your investment. In this, if you withdraw money five years before, then 1% of your principal amount will be deducted. Interest is paid on maturity and for one month from the date of opening the account. If the account holder does not claim interest for every month, then no additional interest is paid on it. The interest received on this is also taxable.
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