SIDDHARTH's Blog

If you’re planning for your retirement, then you can consider investing in various schemes offered by India Post Office. All the state-backed schemes offer safe and impressive returns to investors. From time to time, India Post also rolls out several new and attractive investment schemes that can secure your retirement.

For instance, the monthly income scheme (MIS) offered by the Post Office ensures a regular monthly pension to investors. In the scheme, one needs to invest a lump sum amount at once. Investments in the popular scheme also offer maturity benefits. 

Post Office MIS scheme: All you need to know 

The Post Office MIS scheme is currently offering a 6.6 per cent annual interest on the investments. Investors can also open a joint account in the scheme to reap the maximum benefits of the scheme. 

Three investors can open a joint account in the Post Office Monthly Income Scheme Account scheme. Investors can invest in multiples of Rs 100 or Rs 1000 in the scheme. However, one needs to invest a minimum of Rs 1000 in the scheme while the maximum investment under the scheme is Rs 9 lakh. 

You can receive a yearly Rs 3300 pension in the scheme by investing just Rs 50,000 in the Post Office Monthly Income Scheme Account scheme. For the total period of five years, investors receive a total of Rs 16500 as interest before maturity. 

However, you can invest more money in the scheme to receive more pensions. For instance, if you invest Rs 1 lakh in the MIS scheme, then you’ll get Rs 6600 yearly pension or Rs 550 every month.

Likewise, you can invest Rs 4.5 lakhs in this scheme to get a monthly pension of Rs 2475 monthly or Rs 29700 annually or Rs 148500 as interest with the MIS scheme.