Scheme for the Post Office: By investing once in the Post Office’s special Monthly Income Scheme (Post Office MIS), you can earn profits for the rest of your life. The MIS account has a 5-year maturity term as well. That is, after five years, you will begin to receive a monthly guaranteed income.
Postal MIS Scheme: The market situation is currently fragile. In such a circumstance, you must consider your options carefully before investing. This news is especially for you if you seek profit and savings without danger. The stock market offers significant profits, but it also carries a high level of risk. In this case, you should choose an investment choice that will keep your money safe and provide you with guaranteed returns.
The post office initiative will pay off handsomely.
The Post Office Monthly Income Scheme (Post Office MIS) is a popular little savings plan in which you only have to make a single contribution. The MIS account has a 5-year maturity term as well. That is, after five years, you will begin to receive a monthly guaranteed income. Please inform us of this proposal.
In a joint account, you can invest up to 9 lakhs.
Single and joint accounts can be opened in the Post Office (POMIS) scheme. To open the account, you must make a minimum investment of Rs 1,000. In a single account, you can invest up to Rs 4.5 lakh. At the same time, the joint account has a Rs 9 lakh investment limit. Please tell us about its advantages.
Read More: 7th Pay Commission: Central staff will get even better news with the DA boost!
In MIS, there are numerous advantages.
Two or three people can open a joint account in the post office MIS scheme.
Every member receives an equal share of the income collected in place of this account.
A joint account can be converted to a single account at any time.
A single account can be made into a joint account.
To make any modifications to the account, all account members must submit a joint application.
It can be extended for another 5-5 years once it reaches maturity, i.e. after five years.
The MIS account has a nomination feature. The money in this plan is 100% secure. The government has a sovereign guarantee on this.
Understand what the current interest rate is.
The monthly income scheme earns 6.6 percent interest annually, according to the material on the India Post website. It is paid on a monthly basis. You should be aware that the Post Office Monthly Income Scheme is open to any Indian citizen.
Premature termination is prohibited by a special rule.
The Post Office MIS scheme is five years old, and it may be closed prematurely. However, you can only withdraw money when a year has passed since the date of deposit. ‘If the money is withdrawn between one and three years, then 2 percent of the deposit amount would be reimbursed,’ according to the scheme’s terms. If you remove the money before the account matures after three years, you will receive a reimbursement of 1% of your deposit amount after deductions.
How do I create an MIS account?
You must have a post office savings account to open an MIS account.
For ID proof, you’ll need an Aadhar card, a passport, a voter card, or a driver’s license, among other things.
You must give two passport-size pictures for this.
A government-issued ID card or utility bill will suffice as evidence of address.
You can take this document to the nearest post office and complete the Post Office Monthly Income Scheme form.
You can also get it from the internet.
Fill out the form and include the nominee’s name.
To start this account, you must first deposit 1000 rupees in cash or by check.
