Are you also worried about your children’s future? Do you want to save money for mistakes? Well be it children or old people who does not want to save money.
But if you want to earn profit by saving money for your children, then you should open MIS account of Post Office. This is a scheme in which if you invest once, you will get interest every month. This scheme is like full paisa vasool.
The advantage of this account is that you can open it as a single or joint account. If you deposit Rs 3.50 lakh in this account, you will get Rs 1925 per month at the current rate of interest. If you deposit Rs 2 lakh, then according to the current interest rate, you will get Rs 1100 per month.
In five years, you will get total interest of 66000 and the principal will also get back. If your children are studying in school, then this scheme can prove to be very useful for you.
You can open this account in any post office in the country.
The minimum balance for this account is Rs 1000 which you have to maintain.
You can deposit maximum 4.5 lakh rupees in this account.
The interest you will get under this scheme at present is 6.6 percent.
You can open this account in any name. If you want to open this account in the name of your child, then his minimum age should be 10 years.
The maturity of this scheme is of 5 years. After that you can turn it off if you want.