The Post Office offers several savings schemes for its customers. One of these is the Monthly Income Scheme (MIS), which provides a fixed monthly interest payment on a one-time investment. This scheme is particularly beneficial for those who want a regular monthly income.

With the MIS scheme, you don't need to make repeated investments. Once you invest, your monthly income starts immediately. The Post Office is currently offering an annual interest rate of 7.4% on this scheme, which is directly transferred to your bank account. You can keep this money in your account or withdraw it as needed.

You can open an account in this scheme with a minimum investment of just ₹1000. The maximum investment in a single account is ₹9 lakh, while in a joint account, the maximum investment is ₹15 lakh. A joint account can have up to three account holders.

If you invest ₹9 lakh in a single account, you will receive a fixed interest of ₹5550 every month for 5 years. This amount is directly credited to your bank account and becomes a reliable source of monthly income.

The MIS scheme matures in 5 years. Upon maturity, the entire deposited amount is transferred back to your bank account. This means that not only do you receive monthly interest, but your principal investment is also safe.

To open an MIS account, you must have a Post Office savings account. Once the account is opened, the fixed monthly income starts immediately, and you can use the money as per your convenience. This scheme is ideal for those who want a secure and regular income.

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