Do you want a steady monthly income without taking risks? The Post Office Monthly Income Scheme (MIS) is a government-backed option that helps you earn fixed income from your savings.
This scheme is ideal for people who prefer safety and regular monthly returns, especially retirees and those managing household expenses.
Key Details You Should Know
Interest Rate
The scheme currently offers an interest rate of about 7.4% per year.
The interest amount is credited to your account every month.
Investment Period
Your money is locked in for 5 years.
This means you must stay invested for the full term to get complete benefits.
Minimum and Maximum Investment
You can start investing with as little as ₹1,000.
The maximum limit is ₹9 lakh for a single account.
For a joint account, you can invest up to ₹15 lakh.
Types of Accounts Available
You can open the MIS account as a single, joint, or minor account.
For minors, a parent or guardian can open the account.
Once the child turns 18, the account must be transferred to their name.
How Monthly Income Is Paid
When you invest money in this scheme, you earn interest every month.
For example, if you invest ₹9 lakh, you may receive around ₹5,500 per month as interest.
This makes it a useful source of regular income for daily needs or retirement planning.
Benefits and Limitations
Why choose this scheme?
It is backed by the government, so your money stays safe.
You receive fixed income every month.
It is not affected by market ups and downs.
Things to keep in mind
The scheme does not offer tax benefits under Section 80C.
The interest you earn is taxable.
Is This Scheme Right for You?
If you are looking for a safe investment with guaranteed monthly income, the Post Office Monthly Income Scheme can be a reliable choice.
It helps protect your savings while giving you financial stability and peace of mind over the long term.
