Stories
Check monthly returns on depositing 8 lakh rupees in Post Office MIS
- •The Post Office Monthly Income Scheme currently offers an attractive annual interest rate of 7.4 percent.
- •Depositing a lump sum of 8 lakh rupees will yield a monthly interest of 4,933 rupees.
- •Over a tenure of 5 years, investors will receive a total interest of 2,96,000 rupees along with the original 8 lakh rupees principal.
- •The scheme allows a maximum deposit of 9 lakh rupees in a single account and up to 15 lakh rupees in a joint account.
Key Questions Answered
If you invest a lump sum of 8 lakh rupees in the Post Office Monthly Income Scheme (MIS) at the current annual interest rate of 7.4 percent, you will receive 4,933 rupees every month. Over a tenure of 5 years, this accumulates to 2,96,000 rupees in interest alone, and your original 8 lakh rupees is also returned, totaling 10,96,000 rupees.
An account in the Post Office Monthly Income Scheme can be opened with a minimum deposit of 1,000 rupees. You can deposit a maximum of 9 lakh rupees in a single account, while a joint account allows a maximum deposit of up to 15 lakh rupees.
No, the Post Office Monthly Income Scheme is not market-linked, meaning that the fluctuations of the stock market do not directly impact the interest or returns of this scheme. It is a secure, government-supported scheme where investors receive a fixed rate of interest every month.
