Want a risk-free fixed income without sacrificing your sweat? Consider the Post Office Monthly Income Scheme (MIS). It’s easy, safe and offers you the security of a fixed monthly interest. And the best part, you can begin with just ₹1,000. Let’s lay it out in simple words.
What’s Special About MIS?
This’s not another savings scheme. India Post’s MIS provides assured returns—no wakeful nights worrying about market meltdowns or surprise charges. Whether retired, a housewife, or simply seeking an added monthly income, this scheme fits the bill.
Anyone can open an account, individually or jointly (three at most). Even children over 10 years old can have one in their name. If the child is underage or the person is mentally incapacitated, then a guardian can take over. Super flexible.
How Much Can You Invest?
If you are opening a single account, you can put up to ₹9 lakh. For joint account, ₹15 lakh (half-half). That should be enough to generate a decent monthly income stream.
The higher your investment, the bigger your monthly payout. Therefore, a large upfront investment can be made into monthly pocket money.
How’s the Return?
The good news is that MIS gives you a 7.4% interest rate every year, paid every month. So if you invest ₹9 lakh, you can get about ₹5,550 every month every time.
You get a choice of auto-credit or ECS and the amount is credited directly to your savings account. No going to the post office every month.
When Can You Withdraw?
The account reaches maturity in 5 years, and you can withdraw the entire amount at that time. Need to withdraw it before then? Sure thing, but not until 1 year after opening and there’s a small penalty if you withdraw before 3 years.
Something to keep in mind, the interest is taxed, so you’ll want to consider that.
Last Thought
If you’re someone who values safety over risk and wants steady income without complications, the Post Office MIS is seriously worth a look. Starting with just ₹1,000, it’s a low-entry, high-trust scheme that truly works.