Post Office schemes can prove to be much better for investing and saving. Post office schemes offer great returns at much better interest rates.
One of these schemes of the post office is the National Saving Monthly Scheme. The most important thing about this scheme is that in this you will get money every month. This scheme can prove to be very good for you in terms of savings. Let us know about every type of information related to this scheme.
What is post office MIS scheme
In the National Savings Scheme (MIS) of the post office, you can open your account even with Rs 1000. Under this scheme of post office office, you can deposit up to Rs 9 lakh in a single account and up to Rs 15 lakh in a joint account. You can also close this account within a year.
However, in that case 2% of the deposited money will be deducted. Any Indian person can open his account in this post office scheme. Under this scheme, if interest is not claimed every month, then no return will be available on it. It can also be withdrawn from any post office through auto credit.
How much is the interest rate in this scheme
In the National Savings Monthly Scheme (MIS) of the Post Office, you will be given interest on completion of one month from the date of opening the account. You will continue to earn every month in this post office scheme.
The lock-in period under the scheme is 5 years. But after the maturity period, it can also be extended for 5-5 years. The government has also increased the interest in this scheme. At present, the interest rate benefit of 7.4 per cent per annum has been given to the depositors in this scheme.