Monthly income scheme: Open this account with your wife, you will get guaranteed income of 1,11,000 every year, see calculation. business news in hindi


Post Office Monthly Income Scheme: With the help of Post Office Monthly Income Scheme you can earn. Both single and joint (up to 3 persons) accounts can be opened in the scheme. Its maturity is of 5 years.

Invest in Post Office Small Savings Schemes for guaranteed income. In this scheme of the government, husband and wife can open a joint account. Income is guaranteed every month. There is only lump sum investment in this. The government has doubled its limit in the budget 2023 itself. You can earn with the help of Post Office Monthly Income Scheme. Both single and joint (up to 3 persons) accounts can be opened in the scheme. Its maturity is of 5 years. At present, 7.4 percent interest is being received on MIS from April 1, 2023.

How is the monthly income?

Under the Post Office Monthly Income Scheme, a maximum of Rs 9 lakh can be deposited in an account. At the same time, there is a limit of Rs 15 lakh in the joint account. The current interest rate is 7.4 per cent per annum. However, the total principal amount can be withdrawn after the maturity period of 5 years. It can be extended for the next 5-5 years. After every 5 years there will be an option to withdraw the principal amount or carry forward the plan. The interest earned on the account is paid every month to your Post Office Savings Account.

Will get benefit with wife

Post Office Monthly Income Scheme has guaranteed monthly income. Suppose husband and wife have opened a joint account and deposited Rs 15 lakh in it. An annual interest of Rs 1,11,000 is generated on this at the rate of 7.4 per cent. If you distribute it in 12 months, then you will get an income of Rs 9250 every month. According to post office rules two or three people can also open joint account in MIS. The income received in the account is given equally to each member. Joint account can be converted into single account at any time. Single account can also be converted into joint account.

Who can open the account?

A citizen of any country can open an account in the monthly income scheme of the post office. The account can also be opened in the name of the child. If the child is below 10 years of age, then his parent or legal guardian can open the account in his name. When the child turns 10 years old, he can get the right to operate the account himself. Let me tell you, for MIS account you must have a savings account in the post office. It is mandatory to give Aadhaar card, PAN card for ID proof.

There will be a loss if you withdraw money before maturity

MIS has a maturity period of five years, can be prematurely closed. However, you can withdraw the money only after the completion of one year from the date of deposit. As per the rule, if the money is withdrawn between one year and three years, then 2% of the deposit amount will be deducted and returned. If you withdraw money before maturity anytime after 3 years of account opening, your deposit will be refunded after deducting 1%.

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