New Delhi Business Desk. Saving is very important to meet your financial needs properly. At the same time, you can also earn good money by investing your savings money in the right place. Many people do not want to invest their money because of the risks associated with investing. If you want to invest your money in low risk schemes with guaranteed return on your investment, then you can invest in Monthly Income Scheme (MIS) of Post Office. This is a low-risk investment plan, in which you earn interest every month. This post office scheme is for such individuals who need regular income after investing once. Due to being a government scheme, Monthly Income Scheme is considered very good in the country. Let us know about the important information related to this scheme.

how much interest

In this post office scheme, interest starts accruing as soon as one month is completed from the date of opening the account, and interest continues to accrue until your account matures. If you do not claim the interest earned every month, then you will not get any additional interest benefit on that interest amount.

Who can open his account

In this scheme of post office, any Indian person who is above 18 years of age can open his account. In this scheme, a joint account of only three adult persons can be opened. In the name of a minor, his guardian can open an account in this scheme. Under this scheme, the limit of the account opened in the name of a minor is different from the limit of investment made by an individual.

investment amount

You can invest in this post office scheme in multiples of Rs.100. A single individual can invest up to a maximum of Rs 4.5 lakh under this scheme. On the other hand, if you invest jointly in this scheme, up to Rs 9 lakh can be invested in this scheme. On being a joint holder, both get an equal share.

Edited By: Abhishek Poddar