Monthly Income Scheme: How much will you earn every month if you invest Rs 5 lakh in Monthly Income Scheme, know the details

Monthly Income Scheme: If you invest ₹5 lakh in a monthly income scheme, how much income will you receive each month? Today, we’ll tell you about this scheme. Let’s find out.

Monthly Income Scheme: Most people want to invest their money in a place where it remains safe and there is no fear of losing it. There are many options for safe investment, including bank FDs and post office small savings schemes. If you’re looking for a scheme to invest your money that allows you to earn monthly income from your investments, this news will be very important for you. Today, we’re going to tell you about one such government scheme, where you can invest your money and also receive a fixed amount of interest every month. We’re talking about the Post Office Monthly Income Scheme. Let’s find out.

Monthly Income Scheme (MIS)

You can invest your money in the Post Office Monthly Income Scheme for a period of 5 years. The maturity period of this scheme is 5 years. You get your investment back after 5 years. During these 5 years, you receive a fixed monthly income. The Monthly Income Scheme provides a return of 7.4 percent per annum. This return is transferred to the investor’s account every month.

You can start investing in the Monthly Income Scheme with just ₹1,000. The maximum investment limit is ₹9 lakh. If you open a joint account and invest in this scheme, you can invest a maximum of ₹15 lakh.

Income from an investment of Rs 5 lakh in MIS

If you invest Rs 5 lakh in the Monthly Income Scheme, you will earn Rs 3,083 per month. Thus, over 5 years, you will receive a total of Rs 1.80 lakh in interest. Additionally, you will receive Rs 5 lakh back upon maturity, i.e., after 5 years.

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