Post Office Monthly Income Scheme: Deposit a lump sum of Rs 4.5 lakh, guaranteed income of Rs 29700

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Post Office Monthly Income Scheme: If you are thinking about guaranteed income every month without any risk, then the Post Office Monthly Scheme (Post Office MIS) will be a better option for you. This small savings scheme is such a scheme, in which there is a guaranteed income every month on depositing lump sum. Its special thing is that there is no effect of market fluctuations on investment in this scheme. To get the benefit of this scheme, you have to invest only once in the account. Its maturity is of 5 years. That is, after five years you will start getting guaranteed monthly income.

MIS Calculator: Rs.2475 per year on deposit of 4.5 lakhs


According to the MIS calculator, if a person opens this account by depositing a lump sum of Rs 4.5 lakh, then he will have an income of Rs 29,700 annually for the next five years after maturity. That is, every month you will get 2475 rupees. At present, 6.6 percent annual interest is being received on the MIS of the post office.

Post Office MIS: Account can be opened with Rs.1000

The account can be opened with a minimum investment of Rs 1,000 in the POMIS scheme. This account can be opened both single and jointly. You can deposit a maximum of Rs 4.5 lakh in a single account and up to Rs 9 lakh in a joint account. According to India Post, interest is paid every month in MIS. Any Indian citizen can invest in the Post Office Monthly Income Scheme.

Maturity is five years

The maturity of Post Office MIS is five years, there may be premature closure. However, you can withdraw money only after completion of one year from the date of deposit. Nomination facility is available in MIS account. This scheme money is completely safe.

Things to keep in mind

If you withdraw money between one year to three years, then 2% of the deposit amount will be refunded.
If you withdraw money at any time before maturity after 3 years of account opening, 1% of your deposit will be refunded after deducting it.
You can also transfer MIS account from one post office to another post office. On maturity i.e. completion of five years, it can be extended for a further 5-5 years.

Also, Read This: SBI YONO App: SBI is giving you the opportunity to book cheap train tickets, how and where to avail benefits?

Which documents will be needed

2 Passport size photograph
Aadhar card for ID proof or passport or voter card or driving license
for address proof, ID card or utility bill issued by the government will be valid.

By taking this document, you will have to go to the post office and fill the form of the Post Office Monthly Income Scheme. You can also download it online. Along with filling the form, the name of the nominee will also have to be given. To open this account, initially 1000 rupees have to be deposited through cash or cheque.


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