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Invest Rs 1,000 in Post Office MIS to get attractive returns, Know here how!

The India Post’s National Savings Monthly Income scheme is known for its secure returns across the country. Even though the returns are not as high as they should be, it is risk-free and hence people prefer to invest in this scheme.

Apart from giving a fixed monthly return, it also assures the middle and low-income investors tax exemption. When you invest in MIS, you are exempted from paying taxes under the Income Tax Act.


You can invest in this scheme by opening an account at the nearest post office. The minimum amount required to open an MIS account is Rs 1,000. This rule came into effect on April 1, 2020. The maximum amount that you can invest is Rs 4.5 lakhs and Rs 9 lakhs for joint accounts. The interest rate of MIS accounts is set at 6.6% per year. You can either withdraw the interest from the post office or have it transferred to your savings account.

So if you invest Rs 4 lakh, you will get a monthly income of Rs 2000. After your MIS matures, you can either withdraw the whole amount or reinvest it.


One drawback of MIS is that only Indian residents can open an account. Post Office MIS accounts can be opened for children as well (10 years) and when they turn 18, they can avail the benefits.