Post Office MIS: 7.4% Interest, Monthly Payouts Outperform Banks

• Post Office Monthly Income Scheme (MIS) offers higher interest rates than banks.
• The scheme provides a fixed monthly income with a 5-year maturity period.
• Current annual interest rate for MIS is 7.4%, with interest credited monthly.
• Investment limits are up to Rs 9 lakh for single accounts and Rs 15 lakh for joint accounts.
• A Post Office savings account is mandatory for receiving monthly interest payments.

Why It Matters: Secure post office scheme offers higher monthly income than banks.