Nowadays people start investing in advance for future savings so that they never face any financial problem in future. That’s why today we have brought you such scheme of post office.
In which you can open an account together with your wife. And start investing. You have to invest once in this post office scheme and you will get good income every month with guarantee. The government has now doubled its limit.
Let us tell you that you can open your single or joint account in post office monthly income plan. Whereas in a joint account maximum 3 people can open an account simultaneously. The maturity period of this post office scheme is 5 years. Currently, you start getting 7.4 percent interest on MIS from April 1, 2023.
If you open a single account in Post Office’s MIS scheme, you can deposit a maximum of Rs 9 lakh in it, while you can deposit a maximum of Rs 15 lakh in a joint account. If you want, you can withdraw the entire amount along with interest on its maturity or you can extend it for 5 years.
You are getting 7.4% interest on the amount invested in this scheme. If you carry it forward every 5 years, you can withdraw your principal amount and the interest amount will be credited to your Post Office Savings Account.
Benefit with wife
If you open an account in post office MIS scheme and open this account jointly with your wife, you have to deposit 15 lakhs in it. After this, on the maturity date, you get a total of Rs 1,11,000 as interest. If you reduce this interest amount per month to Rs. Divide by 9,250, you get 12 months income. As per post office rules, maximum 2 to 3 persons can open an account in MIS scheme and the amount received is shared equally among them.
Who can open an account?
In this post office scheme, any Indian citizen can open an account and if the child is below 10 years of age, the account can be opened in the name of his parent or legal guardian. After the child reaches 10 years of age, he can operate this account himself.
To invest in this scheme, you must have a post office or post office savings account and for that you will need your Aadhaar card, PAN card and other necessary documents. If you withdraw before the maturity date of this scheme, 2% to 3% amount is deducted from the amount received and disbursed. So, if you withdraw the money before the maturity date, you will incur a loss.