Investors are always looking for worthy schemes to invest in and currently, Post Office schemes are popular as people are seeking security and high returns on their investments. A lot of schemes are rolled out by the organisation from time and time to give a lot of options to investors.
In a monthly scheme (MIS), the Post Office is offering a regular pension to anyone who will invest in it after they put in a lump sum amount in the plan. The investor will also get maturity benefits with the scheme.
What is the Post Office MIS scheme?
In this Post Office Monthly Income Scheme Account (MIS), money can be invested in multiples of 1000 or 100. The maximum amount one can invest in this scheme is Rs 4.5 lakh. The minimum investment under this scheme is Rs 1000.
In this scheme, 3 investors can open a joint account as well because the maximum amount that can be invested in a joint account under this scheme is Rs 9 lakh.
What is the interest rate offered by the Post Office MIS scheme?
As of now, the Post Office MIS scheme is offering an interest rate of 6.6 percent. Notably, the Post Office is offering simple interest, instead of compound interest here.
How to get Rs 3,300 by investing just Rs 50,000?
According to the MIS calculator, investors can earn Rs 3,300 as a yearly pension by investing just Rs 50,000 once. They will get a total of Rs 16,500 as interest in five years.
For example, if you deposit Rs 1 lakh, then you will get Rs 550 every month or Rs 6600 every year, or Rs 33,000 in five years. On depositing 4.5 lakhs in this scheme, investors will get Rs 2,475 monthly or Rs 29,700 annually or Rs 1,48,500 in interest.
