Post Office MIS Scheme Many schemes are started from time to time by the post office, through which the customer can invest his money and get more benefits from it. Money is deposited under different schemes in the Indian Post Office i.e. Post Office, in the same way today we are going to tell you about such a scheme.
PO MIS:- A maximum of Rs 4.5 lakh can be deposited in the post office MIS account in a year. If you deposit this amount, you will earn Rs 2475 every month, which will become Rs 29,700 in a year. In 5 years, a total of Rs 148500 will be added to your account as interest. Your principal will be returned on maturity.
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Post Office MIS Scheme
This is the plan of the post office – Post Office Monthly Income Scheme Account In this MIS scheme of the post office, money can be deposited at least in multiples of 1000 and 100. Whereas in the Post Office MIS scheme you can deposit the maximum amount. Rs 4.5 lakh At the same time, the maximum limit of Post Office MIS Scheme Joint Account is Rs 9 lakh. A maximum of three people can open a joint account under this post office MIS scheme. If the child is a minor, then the Post Office MIS Scheme A/c can be opened in the name of his/her parent.
Post Office MIS Scheme A/c can also be opened in the name of the child after 10 years. Deposits as low as Rs 1000 can be made under this Post Office MIS, paid monthly.
Presently, the Post Office MIS scheme offers an interest rate of 6.6 per cent per annum, which is available on a monthly basis. Under this scheme, a person can invest a maximum of Rs 4.5 lakh in a single account. The maximum amount for a joint account is Rs 9 lakh. The duration of MIS scheme is 5 years. Any single person can take this scheme. If you want to take it jointly, then maximum 3 people can open the account of the scheme simultaneously. Guardian can take this scheme for his minor child or person suffering from mental illness. Any child above the age of 10 years can take MIS scheme in his/her name.
Whereas, the interest is calculated on an annual basis (interest is calculated on an annual basis). But, if this Post Office MIS Scheme A/c holder claims monthly interest, but if this Post Office MIS Scheme claims monthly interest. If he does not do this, then he will not be able to get the benefit of additional interest on this money.
Post Office MIS Scheme: 5 year maturity
The maturity of this post office miss scheme of post office is 5 years. You cannot withdraw money till one year after the Post Office MIS Scheme A/c is opened. If you want to close it during 1-3 years then 2% of your principal will be deducted. At the same time, 1 percent penalty will be deducted for closing the account within 3-5 years.
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Post Office MIS Scheme: How Much pension do you get
If a person deposits Rs 50,000 in MIS account at one time, he will get Rs 3300 in a year at the rate of Rs 275 per month. The amount of income in 5 years will be Rs 16,500. If Rs 1 lakh is deposited in the account at one go, then interest of Rs 550 will be received every month. In one year this income will be Rs 6600 and in 5 years you will get Rs 33,000.
According to MIS calculator, if Rs 50,000 is deposited in lump sum in Post Office MIS Scheme A/c, he will get Rs 275 every year for 05 years i.e. Rs 3300 every year.
A maximum of Rs 4.5 lakh can be deposited in a post office MIS account in a year. If you deposit this amount, you will earn Rs 2475 every month, which will become Rs 29,700 in a year. In 5 years, a total of Rs 148500 will be added to your account as interest. Your principal will be returned on maturity.
Post Office MIS Scheme: How to get interest
The interest money is credited to the MIS account every month. Interest money is added as soon as one month is completed from the date of account opening. Money in this account will have to be taken every month because if not taken, no interest will be earned on the interest money. To get this money, you have to link MIS account with post office savings account or bank account. Post office will no longer pay MIS interest in cash. On linking the MIS account with a bank account or post office savings account, the interest money will be transferred to the same.
That is, in 5 years he will get a total of Rs 16500 as interest. Let us tell you that if someone deposits 1,00,000 in Post Office MIS Scheme A/c, he will get Rs 550 per month, Rs 6600 every year and Rs 33000 in 5 years. He will get Rs 550 every month, Rs 6600 every year and Rs 33000 in five years.
By depositing Rs 4.5 lakh in this post office MIS scheme of the post office, you will get Rs 2475 monthly ie Rs 29700 annually and Rs 148500 in five years as interest.
Post Office MIS Scheme: If death occurs before maturity
In Post Office MIS Scheme A/c, if any account holder dies before maturity. Means if death happens then this post office MIS scheme a/c gets closed. In this case, the principal amount is returned to the nominee. Deduction under Section 80C will not be available on depositing in this post office MIS scheme. TDS is not deducted even on withdrawal of money from post office or income from interest. However, this interest income is fully taxable.
How to deposit money in Post Office MIS Scheme
MIS account can be opened with a minimum of Rs 1,000 and in multiples of Rs 100. The maximum amount that can be deposited is Rs 4.5 lakh for a single account, Rs 9 lakh for a joint account. All the account holders of MIS joint account have equal share in the investment. The deposits/shares of an individual in all MIS accounts should not exceed Rs.4.50 lakh. The account opened by the guardian on behalf of the minor shall have a separate limit.