Post Office MIS Scheme: Under this scheme money has to be deposited once. After this, every month you will get interest money like pension. In this superhit scheme, your deposits are also returned after five years. Know about it in detail.
Post Office MIS Scheme:Â People like Post Office Scheme very much from the angle of security and security. The Post Office keeps on launching the Dhansu scheme from time to time. Today here we are telling you about one such superhit scheme of post office. Under this scheme (Post Office MIS Scheme Benefits) you have to deposit a lump sum amount and after that you get interest money every month as pension. On maturity, the lump sum money is also returned.
what is this scheme
This scheme of the post office is- Post Office Monthly Income Scheme Account (MIS). Money can be deposited in this scheme at least in multiples of 1000 and 100. In this you can deposit maximum 4.5 lakh rupees. Note that this limit is for a single account. At the same time, the maximum limit for a joint account is Rs 9 lakh.
A maximum of three people can open a joint account under this scheme. Also, if a child is a minor, an account can be opened in the name of his parents. Let us tell you that after 10 years post office MIS account can be opened in the name of the child also.
Minimum 1000 rupees can be deposited
The payment under this scheme is monthly. At present, the interest rate is 6.6 percent, which is available on the basis of simple interest. Interest is calculated on an annual basis. But, if the account holder does not claim monthly interest in this, then he will not get the benefit of additional interest on this money.
5 years maturity
The maturity of this post office scheme is 5 years. You cannot withdraw money from this account until one year after opening. If you want to close it within 1-3 years, then 2% of your principal amount will be deducted. At the same time, a penalty of 1 percent will be deducted for closing the account within 3-5 years.
Rs 2475 every month on depositing 4.5 lakhs
According to the MIS calculator, if someone deposits 50 thousand rupees once in this account, then every month he will get 275 rupees i.e. 3300 rupees every year for five years. That is, in five years, he will get a total of Rs 16500 as interest. Similarly, if someone deposits 1 lakh, then he will get Rs 550 every month, Rs 6600 every year and Rs 33000 in five years. In this scheme, depositing 4.5 lakhs will get Rs 2475 monthly, Rs 29700 annually and Rs 148500 as interest in five years.
Account holder even on death
In this great scheme, if an account holder dies before maturity, then this account gets closed. In such a case the principal amount is returned to the nominee. Depositing in this scheme will not get the benefit of deduction under section 80C. TDS is also not deducted on withdrawal of money from post office or on interest income. However, this interest income is fully taxable.
