New Delhi: People who are planning for their retirement should now consider investing in various schemes offered by India Post Office. For their better post-retirement life, the state-backed schemes offer safe and impressive returns to investors. They also need to know that India Post rolls out several new and attractive investment schemes from time to time that can secure their retirement.
For the information of the people, Indian Post is offering a monthly income scheme (MIS) which ensures a regular monthly pension to investors. In this particular scheme, one needs to invest a lump sum amount at once. Investments in the popular scheme also offer maturity benefits.
Post Office Monthly Income Scheme: Check all details here
- It must be noted that the Post Office Monthly Income Scheme is currently offering a 6.6 per cent annual interest on the investments.
- The investors can also open a joint account in the scheme to reap the maximum benefits of the scheme.
- Interestingly, 3 investors can open a joint account in the Post Office Monthly Income Scheme Account scheme.
- You can invest in multiples of Rs 100 or Rs 1000 in the scheme.
- However, you have to invest a minimum of Rs 1000 in the scheme while the maximum investment under the scheme is Rs 9 lakh.
- In this scheme, you can receive a yearly Rs 3300 pension by investing just Rs 50,000.
- For five years, investors receive a total of Rs 16500 as interest before maturity.
- Notably, you can invest more money in the scheme to receive more pensions.
- If you invest Rs 1 lakh in the scheme, then you’ll get Rs 6600 yearly pension or Rs 550 every month.
- In the similar manner, you can invest Rs 4.5 lakhs to get a monthly pension of Rs 2475 monthly or Rs 29700 annually or Rs 148500 as interest with the MIS scheme.
Get real time update about this post directly on your device, subscribe now.