In the present times, the way the markets of the whole world are facing the brunt of war. The tension in the Middle East has worsened the situation in the stock markets. In such a situation, investors are worried about where to invest their hard-earned money. Where to invest so that money is saved and grows. That means once you have deposited the money, there is no chikchik bet, only wait for return. In such a situation, the schemes of the post office are considered reliable. One of these is Post Office Monthly Income Scheme i.e. MIS, which is especially beneficial for those people who need regular income every month.
This scheme is better for retirees, home makers and investors who want stable income without risk. In this scheme you have to deposit a lump sum amount for five years. After this, you start getting interest every month from the next month of deposit. Currently, this scheme is offering interest at the rate of 7.4 percent per annum, which is considered better than many bank fixed deposits.
The biggest feature of this scheme is that your principal amount remains completely safe, because it is a government-backed scheme. You keep getting only interest and after completion of five years, you get your entire deposit back. That is, in a way, it becomes a source of regular income while keeping your capital safe.
You will get Rs 5,550 per month sitting at home
If we understand by example, by depositing Rs 1 lakh, you can get interest of more than Rs 600 every month. Whereas by investing Rs 5 lakh, you can get a monthly income of more than Rs 3 thousand. Those who invest the maximum limit i.e. Rs 9 lakh can get around Rs 5,550 every month at the current interest rate.
This scheme can be started with a minimum of Rs 1,000. There is a facility to deposit a maximum of Rs 9 lakh in a single account and up to Rs 15 lakh in a joint account. After completion of five years, you can withdraw the amount or invest it again, so that your monthly income can continue. If you want fixed income every month with safe investment, then Post Office MIS Scheme can prove to be an easy and reliable option.
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