post office scheme
Investors usually expect high returns along with the safety of their invested money. In such a situation, there are many schemes of the post office, which not only keep your money safe but also help you earn maximum income. Today we are going to discuss about one such scheme. Which will earn you Rs 9,250 every month on investment. Under the Post Office Monthly Income Scheme (MIS), you can get a return of up to Rs 9,250 every month on investments made for five years, which is not only keeping your investment safe but also giving returns. This is a one-time investment scheme, in which any individual can invest up to Rs 9 lakh, while in a joint account opened by three adults, up to Rs 15 lakh can be invested.
How much return do you get?
On a joint investment of Rs 15 lakh, you get a return of Rs 9,250 every month, which is Rs 1.11 lakh annually. At the same time, if a person invests a maximum of Rs 9 lakh, then he gets a return of Rs 5,550 every month, which is Rs 66,600 annually. The biggest feature of this scheme is that after completion of five years, the entire amount invested is returned. To avail the benefits of this scheme, the investor must be an Indian citizen. Any person can open this account singly or jointly. Apart from this, the guardian of a minor or mentally handicapped person can also open this account.
What are the special features of the scheme?
There is a lot of flexibility in the facility of withdrawing money in this scheme. After completion of one year from the date of account opening, the account holder can close his account and withdraw his invested amount. However, if the monthly interest amount is not withdrawn, no additional interest is earned on it. The interest amount can be automatically deposited into the post office savings account or directly into the investor’s bank account. Although investing in shares or mutual funds can yield higher returns, this scheme is particularly attractive to investors because of its low risk. It has guaranteed returns and the principal amount is also safe, making it a reliable option for investors who prefer low risk.
