Post Office MIS: The goal of the Post Office Monthly Income Scheme is to make money each month. Any individual may invest up to Rs 9 lakh in a single account and up to Rs 15 lakh in a joint account with this. On the amount invested, interest is earned each month. You receive your entire deposited amount back after five years, and regular income continues to flow through this interest.
Inclusive Investment Opportunity
Investing in this scheme is open to all Indian citizens. The opinion of senior citizens is that this scheme is excellent. As a result, they continue to receive a monthly income and their funds are secure. Interest rates on POMIS are currently 7.4%. If you would like to invest in this scheme, we can provide you with the income calculations for deposits of Rs. 5 lakh, Rs. 9 lakh, and Rs. 15 lakh.
Smart Investments with Rs 5 Lakh
The Post Office MIS Calculator states that if you deposit Rs 5 lakh in Post Office MIS, you will receive Rs 3,083 in interest each month at a rate of 7.4%. On the other hand, you can make up to Rs 5,550 a month if you invest up to Rs 9 lakh. You can earn Rs 9,250 per month through this scheme if you invest Rs 15 lakh in a joint account.
Early Withdrawal Option
You can obtain this facility after a year if you need to withdraw money from Post Office MIS before it matures, but you won’t be able to do so before then. However, there is a penalty if the closure occurs earlier than planned. Within the first three years, two percent of the deposit amount is taken out and refunded if you take money out. In contrast, the deposit amount is reimbursed to you after one percent is subtracted from the deposited amount if you wish to withdraw money after three years of opening the account and before five years. At the same time, you receive your full money back after five years have passed.
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