In today’s era of uncertainty, we all want that the job may not remain, but our fixed income should continue every month. But many monthly income schemes are linked to insurance, in which you get the benefit of fixed income after 10 to 15 years of investment. But this is telling you about a scheme in which if you invest today, your monthly income will start from next month itself. Actually you get this earning on interest. You have to deposit a lump sum amount, after which you get interest every month. This scheme is the monthly income scheme of the post office which is popularly called MIS.
In this year’s budget, Finance Minister Nirmala Sitharaman has doubled the limit of deposit money in this monthly income scheme. On the other hand, according to this new update, the amount of investment in the Post Office Monthly Income Scheme will double directly, where instead of Rs 4.5 lakh in a single account, you will be able to invest Rs 9 lakh. Today we are going to give you important information about Post Office Monthly Income Scheme. So that you will get complete information about it.
Under this post office scheme, so far you can make a maximum investment or deposit of Rs 4.5 lakh on the basis of 7.4% interest rate. While looking at this as an example, for 5 years on Rs 4,50,000, there is an income of Rs 2,775 every month at 7.4% interest rate. Whereas now according to the new update, when you will be able to invest Rs 9 lakh in it. In the budget-2023, it has been announced that in case of a joint account, it can be invested from Rs 9 lakh to Rs 15 lakh.
So many people will be able to open account in this scheme
In Post Office Monthly Income Scheme, now not only single but also joint and 3 people together will be able to open account. On the other hand, if a minor wants to open this account, then his guardian will be able to open his account on his behalf.
Let us tell you that the investment in this post office monthly scheme is for 5 years, after which if anyone wants, this account can be closed. Along with this, if the account holder dies before maturity, then this account can be closed automatically, while after that its money is handed over to the nominee or legal heir.