INSUBCONTINENT EXCLUSIVE:
Post Office Monthly Income Scheme (MIS) offers interest rate of 7.3% per annum.India Post, under the Ministry of Communications, offers a
wide range of financial products such as recurring deposits, savings accounts, time deposit, Kisan Vikas Patra, Senior Citizen Savings
Scheme and National Savings Certificates, among other small savings schemes
Post Office Monthly Income Scheme (MIS) account is one such savings product which offers interest rate of 7.3 per cent per annum, according
( Post office public provident fund account key features explained)The Post Office Monthly Income Scheme (MIS) account can be opened by an
individual in multiples of Rs 1,500 for maximum investment limit of Rs 4.5 lakh
Rates Offered On Fixed Deposit, Recurring DepositThe account can be opened by cash/cheque and in case of cheque the date of realisation of
cheque in the government account will be date of the opening of account, according to India Post.Nomination facility is available at the
time of opening and also after opening of account.Account can be transferred from one post office to another and any number of accounts can
Citizen Savings Scheme Compares With PPFInterest can be drawn through auto credit into savings account standing at same post office, through
post-dated cheques or ECS in case of MIS accounts is at CBS Post office branch
Monthly interest can be credited into savings account standing at any CBS Post offices.Maximum maturity period for the Post Office MIS
account is five years.The MIS account can be prematurely en-cashed after one year but before three years at the discount of 2 per cent of
the deposit and after 3 years at the discount of 1 per cent of the deposit.Get the latest election news, live updates and election schedule
for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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