<p>Everyone desires a monthly income after retirement. Various investment plans are available for this purpose. Let’s explore one such excellent investment scheme.</p><p> </p><img>While banks are reducing interest rates, post office schemes offer stable returns. Even with RBI’s repo rate cuts affecting bank savings accounts, post office schemes remain unchanged, attracting investors.<img>Post office’s Monthly Income Scheme offers a steady monthly income. A lump-sum investment earns interest credited monthly to your savings account. The scheme matures in 5 years, returning the principal.<img><p>Invest up to Rs 9 lakhs individually or Rs 15 lakhs jointly. Higher investments yield better monthly returns.</p><img><p>The MIS interest rate is 7.4% annually. A Rs 15 lakh joint investment yields around Rs 9,250 monthly, exceeding bank returns.</p><img>Backed by the Indian government, this scheme ensures secure investments with fixed monthly returns. Ideal for retirees, homemakers, and those seeking a stable income.
