What is Post Office MIS (Monthly Income Statement) Account?

• This kind of account, like most post office schemes, can be opened by both cash and cheque.
• The interest rate is 7.4% per annum, compounded monthly and paid.
• This account also offers a nomination facility.
• Maximum three adults can hold a joint account, all account holders have equal share and rights.
• The account can be transferred from one post office to another.
• An individual can open the account with a minimum of Rs. 1000 and make deposits in multiples of Rs. 100. The maximum investment limit in a single account is Rs. 4.5 lakh and Rs. 9 lakh in joint accounts.

Check total wealth you can create using MIS account calculator.

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