More than one Small Saving Scheme is being operated by the Post Office for its customers. Some of these are such that you get guaranteed income every month, that is, it can be seen as a pension scheme. One such scheme is Monthly Income Scheme or MIS, it has become very popular. Let us know what are the benefits of investing in it?

Interest is being given at the rate of 7.4%

in the Post Office Monthly Income Scheme (Post Office MIS Scheme) where the money is completely safe, then the interest is also strong. If you look at the information available on the post office website, interest is being given at the rate of 7.4 per cent on this scheme.

Talking about earning every month through investment in MIS, then in this scheme you start getting the benefit of interest on completion of one month from the date of opening the account. That is, you will have interest money in your hand every month on the date of opening the account.

Account can be opened with Rs 1,000

In MIS scheme account can be opened with just Rs 1,000. In this, the facility has been given to open the account in two ways (single and joint). Talking about the limit, after opening a single account, you can invest up to a maximum of Rs 9 lakh, while a maximum of Rs 15 lakh can be deposited when a joint account is opened. After depositing the amount according to your account, you can get guaranteed interest on it.

The lock-in period of this scheme is 5 years.

In this scheme of the post office, the lock-in period is of five years, but after its completion, you are also given the facility to extend it for the next five years. Due to the popularity of this scheme, the government has recently increased it by revising its interest rates. The new rates are applicable from 1 April 2023.

Earlier the rate of interest received on this was below seven per cent, but now it has been reduced to 7.4 per cent. To invest under the Monthly Income Scheme, it is necessary to have a savings account in the post office. Any person of 18 years or above can invest in this scheme.

Facility to close the account also

Another special thing about this scheme is that only after one year you can get your account closed. However, for this some amount will be deducted from your deposit. Under the MIS Scheme, if you close the account after 1 year and before 3 years from the date of opening the account, then the balance amount will be paid after deducting 2% of the deposited amount. On the other hand, if you close the account after 3 years and before 5 years from the date of opening, then 1% of the principal amount will be deducted and the remaining amount will be returned.

The post Post Office Interest Rate Hike! Good news for these customers Government has increased the interest rate on this post office scheme, check new rate first appeared on Rightsofemployees.com.

On the other hand, according to this new update, the amount of investment in the Post Office Monthly Income Scheme will double directly, where instead of Rs 4.5 lakh in a single account, you will be able to invest Rs 9 lakh. Whereas today we are going to give you important information about Post Office Monthly Income Scheme, so that you will get complete information about it.

Post Office Monthly Income Scheme will work like this

Under this post office scheme, so far you can make a maximum investment or deposit of Rs 4.5 lakh on the basis of 7.1% interest rate. While looking at this as an example, for 5 years on Rs 4,50,000, there is an income of Rs 2662 every month based on the calculation of interest rate of 7.1%. On the other hand, according to the new update, when you invest Rs 9 lakh in it, you will get an income of Rs 5324 every month. On the other hand, it has been announced in the budget-2023 that an investment of Rs 9 lakh to Rs 15 lakh can be made in it.

So many people will be able to open account in this scheme

In Post Office Monthly Income Scheme, now not only single but also joint and 3 people together will be able to open account. On the other hand, if a minor wants to open this account, then his guardian will be able to open his account on his behalf.

Post Office Monthly Income Scheme is for so many years

Let us tell you that the investment in this post office monthly scheme is for 5 years, after which if anyone wants, this account can be closed. Along with this, if the account holder dies before maturity, then this account can be closed automatically, while after that its money is handed over to the nominee or legal heir.

The post Post Office Scheme: Big news! Want to increase the deposit limit in Post Office MIS scheme, know this important information first appeared on Rightsofemployees.com.

By investing in these schemes, you can accumulate a substantial bank balance for yourself. You also get excellent returns on savings if invested in the right plan. One advantage of investing in government schemes is that people’s money is safe in this. Today we are going to tell you about one such government scheme in which you get many benefits by investing.

One advantage of investing in this scheme is that in this you also get a lump sum amount every month. In such a situation, if there is any kind of financial problem, this money can be very useful for you. Let us tell you about this government scheme.

You have to invest only once

The government scheme we are telling you about is of the post office. You get good interest in the Monthly Income Scheme Account (MIS) of the post office. In this scheme, you can invest a fixed amount at one go. In this scheme, you can earn monthly income in the form of interest every month by investing a lump sum amount once.

The interest rate for January-March 2023 has been fixed at 7.1 percent. However, the government sets the interest rate on a regular basis. The lock-in period for Post Office MIS is 5 years. You can withdraw the invested amount after maturity or reinvest it.

Finance Minister Nirmala Sitharaman announced in her budget speech 2023 that the maximum investment limit in this scheme will be increased from Rs 4.5 lakh to Rs 9 lakh for single account and Rs 15 lakh for joint account. The post office currently shows the past investment limit.

In this way you will get 9 thousand rupees every month

After increasing the investment limit in this post office scheme, Rs 15 lakh can be invested in a joint account. After investing Rs 15 lakh, a monthly income of around Rs 9,000 (Rs 8,875) can be earned as interest. Under this, all the joint holders will have an equal share in the investment.

Interest will be paid on completion of one month from the date of opening in the same manner till maturity. The scheme for a single account will fetch a monthly interest income of Rs 5,325 for a Rs 9 lakh deposit, while a deposit of Rs 15 lakh in a joint account will fetch a monthly interest of Rs 8,875.

These benefits are available in the plan

The good thing in MIS is that even two or three people can open a joint account together. The income received in return of this account is given equally to every member. Joint account can be converted into single account at any time. Single account can also be converted into joint account. To make any kind of change in the account, a joint application has to be given by all the account members.

The post Post Office MIS Scheme: Invest just once in this government scheme, you will get Rs 9000 every month first appeared on Rightsofemployees.com.

Let us tell you that it can also be opened in the name of children above 10 years of age. If you open this special account (Post Office Monthly Income Scheme) in the name of your children, then you will not even have to worry about his school fees. Let us know all the details related to this scheme.

Where and how to open account?

You can open this account (Post Office Monthly Income Scheme Benefits) in any post office.
Under this, a minimum of Rs 1000 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 percent.
– If the child’s age is more than 10 years, then you can open this account (MIS Benefits) in his name
.
The maturity of this scheme is 5 years, after that it can be closed.

Know the calculation

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 66 thousand rupees and in the last you will also get a return of 2 lakh rupees (Post Office Monthly Income Scheme In Hindi).
In this way, you will get 1100 rupees for a small child, which you can use for his education.
This amount can become a good help for the parent.
Similarly, if you deposit Rs 4.5 lakh, then you will get about Rs 2500 every month.

The post Post Office MIS: Dhansu Scheme of Post Office! Open account of children above 10 years, will get 2500 rupees every month first appeared on Rightsofemployees.com.

Let us tell you that it can also be opened in the name of children above 10 years of age. If you open this special account (Post Office Monthly Income Scheme) in the name of your children, then you will not even have to worry about his school fees. Let us know all the details related to this scheme.

Where and how to open account?

You can open this account (Post Office Monthly Income Scheme Benefits) in any post office.
Under this, a minimum of Rs 1000 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 percent.
– If the child’s age is more than 10 years, then you can open this account (MIS Benefits) in his name
.
The maturity of this scheme is 5 years, after that it can be closed.

Know the calculation

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 66 thousand rupees and in the last you will also get a return of 2 lakh rupees (Post Office Monthly Income Scheme In Hindi).
In this way, you will get 1100 rupees for a small child, which you can use for his education.
This amount can become a good help for the parent.
Similarly, if you deposit Rs 4.5 lakh, then you will get about Rs 2500 every month.

The post Post Office MIS: Dhansu Scheme of Post Office! Open account of children above 10 years, will get 2500 rupees every month first appeared on Rightsofemployees.com.