Post Office Scheme
Post Office Scheme
Post Office Schemes are better for people who want to make a profit with less risk. MIS is a savings plan in which you can take advantage of interest by investing once a month. There are many benefits to this account (Post Office Saving Scheme). This account can also be opened in the name of children above 10 years of age. If you open an account in your children's name (Post Office Monthly Income Scheme), you can pay the tuition fee on the interest you get every month.
Where the account will be opened
You can open this Post Office Account (Post Office Monthly Income Scheme Benefits) by visiting any Post Office. Under this a minimum deposit of Rs.1000 can be made and a maximum of Rs.4.5 lakhs can be deposited.
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Currently, the interest rate under this scheme (Post Office Monthly Income Scheme Interest Rate 2021) is 6.6%. If the child is more than 10 years old, then you can open this account (MIS Benefits) in his name and if he is younger then parents can open this account instead. The maturity of this scheme is 5 years. After this it can be turned off.
Learn calculations
If your child is 10 years old and you deposit Rs 2 lakh in his name, your interest will go up to Rs 1100 per month at the current rate of 6.6 per cent. In five years this interest will be a total of 66 thousand rupees and finally you will also get a return of 2 lakh rupees (Post Office Monthly Income Scheme In Hindi). This way, for a small child, you will get 1100 rupees which you can use for his education. This amount can be a good helper for parents.
1925 per month
The special feature of this account (Post Office Monthly Income Scheme Calculator) is that it can open a joint account with one or three adults. If you deposit Rs 3.50 lakh in this account, you will get Rs 1925 per month at the current rate. This is a huge amount for school going children.
With this interest (Post Office Monthly Income Scheme For Children) you can easily deduct the cost of school fees, tuition fees, pen-copy. With a maximum deposit of Rs 4.5 lakh, you can avail a benefit of Rs 2475 per month.
