New Delhi: Investments in post office programs are popular among investors looking for security and high returns. The organization has implemented several programs from time to time to provide investors with a variety of options to choose from.
In one of these monthly income schemes (MIS), the post office offers a regular pension after investing a lump sum in the scheme. An investor also gets maturity benefits in this scheme. Also Read: Does Battlegrounds Mobile India Share Data With China? Check out what Krafton has to say
What is the Post Office MIS system?
In the Post Office Monthly Income Scheme Account (MIS), investors can place their money in multiples of 1000 or 100. However, the minimum investment that one can invest in this program is Rs 4.5 lakh. The minimum investment under this scheme is Rs 1000.
Three investors can open a joint account in the device to get the most out of it. The maximum amount that can be invested in a joint account under this scheme is Rs 9 lakh.
Interest rate offered by the Post Office MIS system
At present, the Post Office MIS system offers an interest rate of 6.6 percent. It is important to note that Post Office offers simple interest, instead of compound interest in the plan.
How to get Rs 3300 by investing only Rs 50,000?
Investors can earn Rs 3,300 as an annual pension by investing just Rs 50,000 once, according to the MIS calculator. Investors will get a total of Rs 16,500 as interest in five years.
Likewise, if someone deposits 1 lakh, they will receive Rs 550 each month or Rs 6600 each year or Rs 33000 in five years. By depositing 4.5 lakhs into this program, investors will receive Rs 2,475 per month or Rs 29,700 per year or Rs 148,500 in interest. Read also: Proud moment for India! This Indian airport wins a global award for quality of service