New Delhi: Post office MIS: There is always a risk in your investment in the ups and downs of the market. We should also choose the option of investment in such a place, where the money is completely safe and also get guaranteed returns.
Post Office Monthly Income Scheme (Post Office MIS) is such a superhit small savings scheme, in which you have to invest only once. The maturity period of MIS account is 5 years. That is, after five years you will start getting guaranteed monthly income. Let us know the details of this scheme.
open account like this
For MIS account, you must have a savings account in the post office ie post office. You must have Aadhar card or passport or voter card or driving license etc. for ID proof. You have to provide 2 passport size photographs. For address proof, ID card or utility bill issued by the government will be valid. By taking this document, you will have to go to the post office and fill the form of the Post Office Monthly Income Scheme. You can also download it online. Along with filling the form, the name of the nominee will also have to be given. To open this account, initially 1000 rupees have to be deposited through cash or cheque.
Know why MIS is special?
You can also transfer MIS account from one post office to another post office. On maturity i.e. completion of five years, it can be extended for a further 5-5 years. Nomination facility is available in MIS account. This scheme money is completely safe. There is a sovereign guarantee of the government on this.
Special rule to stop premature
The maturity of MIS is five years, there may be premature closure. However, you can withdraw money only after completion of one year from the date of deposit. According to the rules, if the money is withdrawn between one year to three years, then 2% of the deposit amount will be refunded. If you withdraw money at any time before maturity after 3 years of account opening, then 1% of your deposit will be refunded after deducting it.
Know the current interest rate
According to India Post, the monthly income scheme is getting 6.6% interest annually. It is paid every month. Any Indian citizen can invest in the Post Office Monthly Income Scheme.
There are many benefits available in MIS
In MIS, two or three people together can also open a joint account. The income received in exchange for this account is given equally to every member. You can convert a joint account to a single account at any time. You can also convert a single account into a joint account. To make any changes in the account, a joint application of all the account members has to be given.
Maximum investment of up to 9 lakhs in a joint account
Both single and joint account can be opened in POMIS scheme. The account can be opened with a minimum investment of Rs 1,000. You can invest a maximum of Rs 4.5 lakh in a single account. At the same time, the investment limit in the joint account is Rs 9 lakh.
