- You are 30 Think of 50: Impact of inflation on your budget (Aug 27, 2008)
- An Introduction to Reverse Mortgage (Aug 24, 2008)
- Home Loan / Mortgage Insurance What to Buy, How to Buy (Aug 21, 2008)
- Change in interest rate: Impact on floating rate home loan, EMI and tenure (Aug 18, 2008)
- All you wanted to know about Senior Citizen Savings Scheme (SCSS) (Aug 15, 2008)
- When at-par is not so good: New Fund Offer (NFO) versus existing MF schemes (Aug 11, 2008)
Also translated in Hindi and published in Dainik Bhaskar
Articles: Cap for PO Monthly Interest Scheme (MIS) increases
The limit for investment in the Post Office MIS has been increased by 50%.
|
The investment limit in the Post Office Monthly Income Scheme (MIS) has been increased by 50%.
For individual accounts, the limit for investment has been raised to Rs. 4.5 Lakhs from Rs. 3 Lakhs. For joint accounts, this limit has been raised to Rs. 9 Lakhs from Rs. 6 Lakhs. |
The Post Office Monthly Income Scheme (MIS) gives 8% per annum interest on investment, paid out every month. There is no tax deduction on either the investment or the interest. The investment is for a period of 6 years.
The PO MIS scheme gives 8%, virtually risk free returns. Therefore, it was very popular among investors till very recently, when the market rates were much lower than that. Now, it has become less popular, as banks have started giving 9% - 9.5% interest on Fixed Deposits (FDs).
Other articles you might be interested in:
- Bhavishya Nirman Bonds
- Tax sops for Post Office schemes, bonus on PO MIS
- Comparison between NSC and KVP
Related links from the web (Sponsored):
Articles by Category:
- Gold
- Income Tax - IT
- Insurance
- Investment Philosophy and Planning
- Loans
- Mutual Funds
- News / Developments
- Others / Miscellaneous
- Real Estate
- Stocks / Shares / Equities
Note: Please treat the opinion expressed here as a broad suggestion. Please consult your financial planner / investment advisor before making any investment decision.
Comments
Registered Members: 1630
Guests On-Line: 6
Registered Members On-Line: 0
You are a guest user. To register for free, 