Post Office Scheme: Monthly returns for your money..!
Post office Scheme: Monthly returns for your money..!
People looking for a government-run scheme to save their money can go for this post office saving scheme. This will offer you a great interest rate of 6.6%. Interested people can check the following site indiapost.gov.in. This National Savings Monthly Income Account(MIS) and will fetch the investor a good interest rate of 6.6%. This goes by with low investment and good outcomes. The individual should know that the minimum amount for opening this scheme is Rs 1000. All deposits will be in multiples of Rs 1000 only.
People looking for a government-run scheme to save their money can go for this post office saving scheme. This will offer you a great interest rate of 6.6%. Interested people can check the following site indiapost.gov.in. This National Savings Monthly Income Account(MIS) and will fetch the investor a good interest rate of 6.6%. This goes by with low investment and good outcomes. The individual should know that the minimum amount for opening this scheme is Rs 1000. All deposits will be in multiples of Rs 1000 only.
The maximum investment is Rs 4.5 lakh for a single account and for a joint account Rs 9 lakh is the maximum limit. Each joint holder should have an equal share in a joint account. The account can be opened by a single adult, the joint account can behold up to three adults.
(ii) If the interest for every month is not taken by the account holder, that interest shall not earn the needed additional interest.
(iii) If suppose any excess deposit is made by the holder, the excess amount will be refunded back.
(iv) Interest can be taken with auto credit into the respective savings account at the same post office, or also by ECS.
(v) Interest is also taxable in the hand of the holder.
The account will be closed on 5 years of expiry from the date of opening and also submitting the needed application form with the needed passbook. If suppose, the account holder dies, the account will be closed and the final amount will be refunded to the respective nominees. Interest will be given in the preceding month, in which the needed refunds will be given.
(ii) If the interest for every month is not taken by the account holder, that interest shall not earn the needed additional interest.
(iii) If suppose any excess deposit is made by the holder, the excess amount will be refunded back.
(iv) Interest can be taken with auto credit into the respective savings account at the same post office, or also by ECS.
(v) Interest is also taxable in the hand of the holder.
The account will be closed on 5 years of expiry from the date of opening and also submitting the needed application form with the needed passbook. If suppose, the account holder dies, the account will be closed and the final amount will be refunded to the respective nominees. Interest will be given in the preceding month, in which the needed refunds will be given.