By depositing ₹1,00,000 in the Post Office Monthly Income Scheme (MIS), you will receive a fixed monthly interest of ₹633 at an annual interest rate of 7.6%. This amount will be directly deposited into your bank account. After the maturity period of 5 years, your original investment of ₹1,00,000 will also be returned.
Saving scheme: India's Post Office Monthly Income Scheme (MIS) provides investors with regular monthly interest. If you invest ₹1,00,000 in this scheme, you will receive ₹633 every month at an annual interest rate of 7.6%. This interest will be directly deposited into your bank account. The MIS scheme matures in 5 years, and the entire amount of your investment is returned upon maturity. A maximum of ₹9 lakh can be deposited in a single account and ₹15 lakh in a joint account.
Minimum and Maximum Investment Limit
Certain rules and limits are set for investing in the MIS scheme. The minimum investment in a single account is ₹1,000, and the maximum amount is limited to ₹9 lakh.
If you open a joint account, a maximum of ₹15 lakh can be deposited in it. A joint account can include a maximum of 3 people.
Account Requirement
To invest in this scheme, it is mandatory to have a post office savings account. If you do not already have an account, you will need to open a savings account before starting an investment in MIS.
Monthly Interest Calculation
The MIS scheme offers an annual interest of 7.6 percent. For example, if you invest ₹1,00,000, the monthly interest will be calculated as follows:
- Annual Interest = 1,00,000 × 7.6 / 100 = ₹7,600
- Monthly Interest = ₹7,600 ÷ 12 = ₹633
Thus, the investor will receive a fixed monthly income of ₹633 every month.
Benefits on Maturity
The duration of MIS is 5 years. Upon completion of this period, the investor not only receives the monthly interest but also gets the entire principal amount back.
For example, if you have invested ₹1,00,000, at the end of five years, you will receive:
- Principal: ₹1,00,000
- Interest: ₹38,000
- Total Benefit: ₹1,38,000
This scheme is therefore beneficial for investors who are looking for a fixed monthly income and a safe investment.
Safe and Reliable Investment Option
The Post Office MIS scheme, being operated by the government, offers minimal risk and guaranteed returns. It is safer compared to banks or other investment options.
This scheme is also suitable for people who are planning for a pension or regular monthly income. In addition, this scheme ensures long-term financial stability and investment reliability.
