Post Office PPF Scheme Such small investors who want to invest in a post office scheme in which they can get good returns. By the way, many savings schemes of post office are famous among small investors.
Post Office PPF Scheme Check Here Details
One of the many savings schemes of post office is Monthly Saving Scheme through which any person can easily earn every month and this scheme is beneficial for such people and is a good option who want to get regular income.
If all of you also want to get detailed information about this Monthly Saving Scheme of Post Office, then you have to stay connected with us till the end in this article because through this article we will know about Monthly Saving Scheme, so let’s start the article.
Post Office PPF Scheme
Through this scheme of post office, all of you can get an income of 9250 monthly and 111000 per year. However, all of you will have to open a savings account under the scheme of post office in which you have to invest.
The Post Office Monthly Income Scheme allows any citizen to open a bank account. This account can be opened by children as well, but only if they are over 18. If the child is under 10 years old, their parents or legal guardians may open an account on their behalf.
Information about MIS scheme
This Monthly Income Scheme of the Post Office is a deposit scheme under which you can earn every month through interest. How much you can earn in this scheme will depend on the amount deposited by you, as well as the interest received in the account is given in the Post Office Savings Account. All of you can withdraw your deposited amount after 5 years and you can invest to get benefits under this scheme.
Single and joint account
Post office accounts are available for both single and joint accounts. Please be aware that two or more people can open a joint account.The deposit limit in a single account is less and the deposit limit in a joint account is higher. If you want to open a joint account with your wife, you can deposit more and earn good profit.
In single and joint account, all of you can invest up to ₹ 900000 under single account and up to 15 lakh rupees under joint account. You have to deposit only once and then interest will be received on this deposit for 5 years. Let us tell you that under this scheme, the beneficiaries are currently getting interest at the rate of up to 7.4 percent.
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How to earn Rs 1,11,000
The person who will deposit Rs 15 lakh under the scheme along with his wife will get 1111000 per year with a rate of 7.4 percent interest and will get 9250 every month and in the same way, after 5 years, you can get an amount of 555000 only from interest.
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How much will be the earning on a single account
For those who want to know how much can be earned on a single account, let us tell them that if you open a single account, you can deposit a maximum of one lakh rupees in the account and you can get 66600 rupees as interest annually with an interest rate of 7.4 percent and earn 5550 rupees every month and in this way you can earn 333000 rupees in 5 lakhs only as interest through a single account.
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Eligibility to open an account
Anyone in the country is eligible to open a monthly income scheme account with the Postal Department . Apart from this, when any child turns 10 years of age, he gets the right to open his own account. For MIS account, you must have a savings account open under the post office. It is mandatory to provide Aadhaar card, PAN card for ID proof.
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