Monthly Income Scheme is a small savings scheme offered by the post office. There is no need to invest money again and again in this scheme. For this, an account has to be opened by investing at least Rs 1000.
Post Office Scheme gives new such schemes, which are safe and beneficial. If you are also planning to save, then the special and powerful scheme of the post office will prove to be of great use to you. This plan also gives very good returns. The name of this scheme is Monthly Income Scheme. This is a small savings scheme offered by the post office. There is no need to invest money again and again in this scheme.
This scheme matures only after 5 years. Married people can also take advantage of this scheme. For this, an account has to be opened by investing at least Rs 1000. Investors can invest up to a maximum of Rs 4.5 lakh in this scheme. If you open a joint account, then you can invest up to a maximum of Rs 9 lakh. The MIS scheme gives an annual return of up to 6.6 per cent.
In this small savings scheme of the post office, three people can also open an account simultaneously. The investment limit is also decided on the basis of the members. Not only this, you can convert a single account to a joint account at any time. The account holders of this scheme can also get the premature closure done. If you withdraw money after 3 years then 3% money is deducted. At the same time, 1% is deducted after withdrawing money after three years.
