Post Office MIS Scheme benefits: Post office schemes are beneficial for those people who want profit with less risk. Post office MIS is such a savings scheme in which you will be able to take advantage of it in the form of interest every month by investing money once.
There are many benefits of this account (Post Office Saving Scheme). This account can also be opened in the name of children above the age of 10 years. If you open this special account (Post Office Monthly Income Scheme) in the name of your children, then you can pay tuition fee for the interest you will get every month. Let’s know all the details of this scheme.
Where and how to open account
- You can open this post office account (Post Office Monthly Income Scheme Benefits) by going to any post office.
- Under this, a minimum of Rs 1000 can be deposited and a maximum of Rs 4.5 lakh can be deposited.
- At present, the interest rate under this scheme (Post Office Monthly Income Scheme Interest Rate 2021) is 6.6%.
- If the child’s age is more than 10 years, then you can open this account (MIS Benefits) in his name and if it is less then the parent can open this account instead. The maturity of this scheme is of 5 years. After that it can be turned off.
Calculation will be like this
If your child is 10 years old and you deposit Rs 2 lakh in his name, then every month your interest will become Rs 1100 at the current rate of 6.6 per cent. In five years, this interest will become a total of Rs 66 thousand and in the last you will also get a return of Rs 2 lakh (Post Office Monthly Income Scheme In Hindi). In this way, for a small child, you will get 1100 rupees which you can use for his education. This amount can become a good help for the parent.
1925 rupees will be available every month
The specialty of this account (Post Office Monthly Income Scheme Calculator) is that it can be opened a joint account with single or three adults. If you deposit Rs 3.50 lakh in this account, then you will get Rs 1925 every month at the current rate. This is a huge amount for the children studying in the school.
With the money of this interest (Post Office Monthly Income Scheme For Children), you can easily withdraw the expenses of school fees, tuition fees, pen-copy. On depositing the maximum limit of this scheme i.e. 4.5 lakhs, you can get the benefit of Rs 2475 every month.
