The Post Office of India has come up with a great scheme for those who are interested in investing. In the new Post scheme, you will have to deposit a lump sum and after that you will get interest money in the form of monthly pension. In addition, the lump sum you have deposited will be refunded after maturity. The maturity of this new postal scheme will be 5 years.
The name of this great post office scheme is Post Office Monthly Income Scheme Account (MIS). Under this scheme you will have to pay a lump sum of Rs. 50,000. Thereafter you will get Rs 3,300 per year as interest. You can start with a nominal initial investment of Rs.1,500 or Rs 100. You can open more than one account in your name. But the total deposit amount cannot exceed Rs. 4.5 lakhs in all of them together. The maximum limit for a joint account is Rs 9 lakh.
Minimum payment limit of Rs 1000
In this Post scheme, a minimum of Rs.1000 can be deposited in a Post Office MIS account. The maximum limit for one person is Rs. 4.5 lakhs. The current interest rate is 6.6 per cent.
Big returns if you deposit Rs 4.5 lakh
According to the post office's MIS calculator, if one deposits a lump sum of Rs 50,000 in this account, one will get Rs 275 per month and Rs 3,300 per year for five years. This means that in five years, the income will be Rs 16,500 in the form of interest. If you deposit Rs 1 lakh in the same way, you get an additional income of Rs 33,000 in five years. If you deposit a maximum of Rs 4.5 lakh, you will get Rs 2,475 per month, Rs 29,700 in one year and Rs 1,48,500 in five years as interest.