Guaranteed Returns! How to earn Rs 1,11,000 annually from the Post Office MIS plan?

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Post Office Monthly Income Scheme

If you have funds but lack regular income, a post office scheme can be beneficial. This risk-free, guaranteed income scheme helps earn monthly. Investing jointly with your spouse can yield Rs 1,11,000 annually.

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Post Office Schemes

We're discussing the Post Office Monthly Income Scheme, which provides monthly income. A lump sum is deposited for 5 years, earning interest. Single and joint accounts are available. With your spouse, earn Rs 5,55,000 in 5 years.

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Post Office MIS

In Post Office MIS, deposit Rs 9 lakhs in a single account and Rs 15 lakhs in a joint account. Currently, it offers a 7.4% interest rate. A joint account with Rs 15,00,000 earns Rs 1,11,000 yearly and Rs 5,55,000 over 5 years.

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Post Office Monthly Income

The Post Office Monthly Income Scheme offers 7.4% interest. Depositing Rs 15 lakhs jointly earns Rs 9,250 monthly at 7.4%. Rs 9,250 x 12 = Rs 1,11,000 annual income. Rs 1,11,000 x 5 = Rs 5,55,000 earned in 5 years.

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Monthly Income Scheme

A single account allows a maximum deposit of Rs 9 lakhs, earning Rs 5,550 monthly interest. Annually, this is Rs 5,550 x 12 = Rs 66,600. Over 5 years, it's Rs 66,600 x 5 = Rs 3,33,000 in interest.

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Post Office MIS Benefits

Interest is paid monthly to your post office savings account. The principal remains secure. Withdraw after 5 years. Open a new account after maturity to continue.

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Post Office MIS Rules

Any Indian citizen can open an account, even in a child's name. For children under 10, parents/guardians can open it. At 10, the child gains control. A post office savings account, Aadhaar, and PAN card are required.