Post Office Monthly Income Scheme: Secure ₹5500 Monthly Income with 7.4% Interest

• The Post Office Monthly Income Scheme (MIS) is ideal for retired senior citizens and housewives, offering a steady monthly income.
• Invest a lump sum for 5 years at a 7.4% annual interest rate, higher than many bank offerings, with interest credited monthly.
• A single account allows a maximum investment of ₹9 lakh, yielding ₹5,550 monthly; joint accounts can invest up to ₹15 lakh.
• The scheme is government-backed, market-risk-free, and guarantees the return of the principal amount after 5 years.
• Minimum investment is ₹1,000, with options for nomination and transfer to other Post Office schemes like RD for higher returns.

Why It Matters: Invest in Post Office MIS for a secure, risk-free monthly income, especially beneficial for retirees and homemakers.