Post Office MIS Scheme 2023]: Now senior citizens will be able to deposit more money in the Post Office Monthly Income Scheme account! Actually, the maximum limit of deposit for investment in this scheme has been increased. Finance Minister Nirmala Sitharaman has announced in her budget speech 2023 that the Monthly Income Scheme (MIS Account) account deposit limit will be increased from Rs 4.5 lakh to Rs 9 lakh for single account and Rs 15 lakh for joint account. With this, investors will get more money on a monthly basis after investment! Know the rest of the important details ahead!
Post Office MIS Scheme 2023]
Investment in Post Office Monthly Income Scheme account is mostly done by senior citizens as they want guaranteed monthly interest income. From January 1, 2023, the interest rate of this scheme is 7.1 percent! If the (MIS Account) account holder does not claim the interest received every month, then no additional interest will be paid on that interest amount!
profitable for investors
Presenting the budget, Sitharaman said that the maximum deposit limit for the Post Office Monthly Income Scheme (Post Office Monthly Income Scheme) has been increased from Rs 4.5 lakh for single account to Rs 9 lakh and for joint (MIS Account) account. It has been increased from Rs 9 lakh to Rs 15 lakh. Lakh rupees will be made!
What was the investment limit earlier : Post Office MIS [ Scheme 2023 ]
Earlier, the maximum deposit limit under this Post Office Monthly Income Scheme was Rs 4.5 lakh for a single account and Rs 9 lakh for a joint account. Any adult person (MIS Account) can open an account under this scheme! A minor above 10 years of age can also open an account in his own name.
Rules for Joint Account
According to the Post Office website, the share of both the persons in the joint account is equal for the purpose of calculation. Since this Post Office Monthly Income Scheme (Post Office Monthly Income Scheme) offers simple interest, it is very easy to calculate the total return on investment in the (POMIS) account!
What will be the maximum income
Monthly interest on Rs.100000 investment in joint account Rs.592, Rs.200000 Rs.1183, Rs.300000 Rs.1775, Rs.400000 Rs.2367, Rs.500000 Rs.2958, Rs.600000 Rs.3550, Rs. . .700000 Rs.4141, Rs.800000 Rs.4733 Rs.900000, Rs.5325 Rs.1000000, Rs.5916, Rs.1100000 Rs.6508, Rs.1200000 Rs.7100, Rs.1300000 Rs. .7691, Rs.8283 at Rs.1400000 and Rs.1500000 at Rs.
What is the maximum amount you can invest
Maximum Rs 4.5 lakh through a single account in the Post Office Monthly Income Scheme! And a maximum investment of Rs 9 lakh can be made through a joint account! The maturity of the MIS Scheme is five years, it can be closed prematurely! However, you can withdraw money only after one year from the date of deposit. According to the rules, if the money is withdrawn within one year to three years! Then 2% of the deposit will be returned! Post Office MIS Scheme 2023
This is the important detail: Post Office MIS [Scheme 2023]
In simple words, the monthly interest income on a deposit of Rs 9 lakh in the Post Office Monthly Income Scheme account will be Rs 5325! While a deposit of Rs 15 lakh in a joint account will get a monthly interest of Rs 8875! You can even close the POMIS account! After expiry of 5 years from the date of opening. The Finance Minister had also announced this in the budget speech. That of the Senior Citizens Savings Scheme! For this, the maximum deposit (investment) limit will be increased from Rs 15 lakh to Rs 30 lakh.
what are the terms of the scheme
POMIS Account (POMIS Account) This is the initial stage! Nor can you withdraw your deposit before 1 year! Also, if you withdraw before its maturity i.e. between 3 to 5 years! 1% of the principal amount will be deducted and returned! Whereas if you withdraw money on maturity! So you get all the benefits of Post Office Monthly Income Scheme!