Investment Tips: In the monthly income scheme of the post office, invest your money for childrens...

 | 
cc

Investment For Kids: Monthly Income Scheme (MIS) of the Post Office is such a savings scheme in which you will be able to take advantage of interest every month by investing money once. There are many benefits available in this account. This account can also be opened easily in the name of children above 10 years of age. If you go to the post office to open this account in the name of your children, then the interest you will get every month can easily be used to pay tuition fees.

c

Invest in Monthly Investment Scheme
If you want to get a fixed return every month, then you can invest in the Monthly Investment Scheme of the Post Office. This gives you an interest rate of 6.6 percent. An account up to Rs 1,000 can be opened under this scheme. In this, you can deposit Rs 4.5 lakh on a single account and up to Rs 9 lakh on a joint account. On investing in the scheme, you will get a fixed account every month. You will get the deposited amount after 5 years.

Account will open like this
The account of this scheme can be opened by visiting any post office. Under this, a minimum of Rs 1000 and a maximum of Rs 4.5 lakh can be deposited. At present, the interest rate available under this scheme (Post Office Monthly Income Scheme Interest Rate 2021) is 6.6 percent. If the age of the child is more than 10 years, then you can open this account (MIS Benefits) in his name and if it is less then parents can open this account instead. The maturity of this scheme is in 5 years. After that, it can be turned off.

c

How much benefit?
If your child is 10 years old and you deposit Rs 2 lakh in his name, then every month you will get Rs 1100 interest at the current rate of 6.6 percent. In five years, this interest will become a total of 66 thousand rupees and after the completion of the scheme, you will get back 2 lakh rupees. In this way, for a small child, you will get Rs 2.66 lakh, which you can use for his education.