Get interest up to Rs.5000 per month .. Start this account immediately at the Post Office!
In this post, let's learn how to earn Rs. 5000 every month using the Post office scheme
The public is now forced to invest in risk-free savings plans. Savings and investment are being handled with great care as the financial burden increased after the corona outbreak.
Every investor must know about the Monthly Income Plan (MIS) in operation at the Post Office. If someone opens a joint account under this monthly income plan and deposits up to Rs 9 lakh in it, they can earn Rs 4,950 every month.
If it is an individual account, you can get Rs 2,475 per month. This is because 6.6% interest is paid on the principal on this savings account.
The maturity period of this scheme is 5 years. So, you will get interest of Rs 4,950 per month for 5 consecutive years. You can extend the maturity period of this program if you wish. You can get the interest back every month. This way you will get monthly interest without affecting the original amount on your investment. You will get your investment back by the time the plan matures.
It guarantees a steady income. The plan ensures a return on investment for investors at the rate at which they were initially invested. Apart from this, it acts as a tax saving scheme for middle and low income investors who can get tax exemption under the Income Tax Act by investing in this scheme.
Interested investors wishing to open an MIS account should deposit a minimum of Rs. 1,000. According to the guidelines of the post office, the subsequent deposit should be in the range of Rs.1,000. The maximum investment limit will be Rs 4.5 lakh for single accounts and Rs 9 lakh for joint accounts. An individual can invest a maximum of Rs 4.5 lakh in MIS