Post Office MIS: Open a Joint Account and Earn 5 Lakhs Extra

If you’re seeking a safe investment with a steady monthly income, the Post Office Monthly Income Scheme (MIS) for 2024 might be the ideal choice.

Not only does it assure the safety of your principal amount, but it also provides a regular source of income, making it a compelling investment option.

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Benefits of a Joint Account

One unique advantage of the Post Office MIS is the option to open both single and joint accounts. Collaborating with your spouse, sibling, or another family member not only enhances the deposit limit but also maximizes your returns.

By opting for a joint account, you stand to earn a substantial income of Rs 5,55,000, all from the comfort of your home.

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Monthly Income Guaranteed

The Post Office MIS operates as a deposit scheme, offering monthly interest on your lump sum deposit. The interest is credited to your post office savings account every month, providing a consistent source of income.

After a five-year period, you have the flexibility to withdraw your deposited amount or open a new account to continue enjoying the scheme’s benefits.

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Calculating Your Earnings

With a current interest rate of 7.4 percent, depositing Rs 15 lakh in a joint account fetches a monthly income of Rs 9,250.

This translates to an annual guaranteed income of Rs 1,11,000.

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Over five years, the cumulative interest earned amounts to an impressive Rs 5,55,000.

In contrast, a single account with a maximum deposit of Rs 9 lakh yields Rs 5,550 monthly, resulting in a five-year total interest of Rs 3,33,000.


Eligibility and Account Opening

The Post Office MIS is accessible to citizens from any country, and accounts can even be opened in a child’s name,

managed by parents or legal guardians if the child is below 10 years.


To open an MIS account, possessing a post office savings account is mandatory, along with providing Aadhar Card and PAN Card for identification purposes.

Seize the opportunity to secure your financial future with the Post Office MIS and enjoy a hassle-free way to accumulate wealth.

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