Post Office Scheme: Post Office has a great investment scheme, in which investors get regular interest every month on depositing a lump sum amount. This scheme is especially suitable for those who want to get stable and assured income every month from their investment.
It is also called (MIS Scheme) of Post Office. The main attraction of this scheme is that the income received every month is safe and assured, due to which this scheme has become very popular among investors.
Post Office Monthly Income Scheme (MIS) is a popular scheme, which provides regular monthly income. In this, the investor gets money in the form of interest every month after investing a fixed amount.
How much to invest to get Rs 11,000 every month?
The current interest rate of Post Office MIS Scheme is 7.4% (till January 2025). If you need Rs 11,000 every month, the calculation will be as follows:
1. Annual interest = Monthly income × 12
11,000 × 12 = Rs 1,32,000 annual interest
2. Total investment calculation:
Investment = Annual interest × 100 / Interest rate
1,32,000 × 100 / 7.4 = Rs 17,83,783 (approx.)
Key features:
1. Investment limits:
Individual account: Maximum ₹9 lakh.
Joint account: Maximum ₹15 lakh.
2. Monthly interest payout: Interest is transferred directly to your savings account.
3. Maturity period: 5 years.
4. Safe and guaranteed: It is backed by the Government of India, so there is no risk.
5. Tax benefits: There is no tax benefit on the investment, but tax may be applicable on the interest income.
Important terms:
- Interest rates may change from time to time.
- Given the maximum investment limit, depositing up to ₹9 lakh in a single account will earn ₹5,550 interest every month.
- If you want a monthly income of ₹11,000, invest in a joint account.
- You can avail this scheme by visiting the nearest post office. It is also called Post Office (MIS Scheme). The main attraction of this scheme is that the monthly income is safe and assured, due to which this scheme has become very popular among investors.
