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Post Office Monthly Income Scheme: Even today, a large section of the country trusts a lot on the post office scheme. The post office had come up with different types of schemes for its customers. One of these schemes is the Post Office Monthly Income Scheme. This is also done by MIS scheme in common language. In this scheme, investors deposit money in one go, after that they get monthly income.
Under this scheme, you can deposit money in 100 multiples of at least 1000. If you have a single account, then you can deposit money only up to Rs 4.5 lakh. On the other hand, in the joint account, this limit is up to Rs 9 lakh. In this, a maximum of three people can open an account together.
Rules for opening an account in the Post Office Monthly Income Scheme-
- You must be at least 18 years old.
- This account can be opened by a minimum of one person and a maximum of three persons simultaneously.
- The account of a person cannot be opened whose mental condition is not good.
Maturity will be on 5 years (Post Office Monthly Income Scheme Maturity)
Under the Monthly Income Scheme of the Post Office, you can open its account for five years. After depositing money in this scheme, you cannot withdraw money for at least one year. On withdrawal between 1 to 3 years, you will get a deduction of 2% of the principal amount. On the other hand, after withdrawing it after 3 to 5 years, one percent of your principal amount will be deducted.
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You will get so much money after depositing 50 thousand rupees
You will get 6.6% as interest every month. If you deposit 50 thousand rupees in your account at a time, then you will get about 275 rupees every month and 3300 rupees annually. In five years, you will get a total of Rs 16,500 as interest. If you deposit more amount then you will get more money.
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