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What is monthly income scheme of the post office?

Investment Analysis and Portfolio Management

What is monthly income scheme of the post office?

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Monthly Income Scheme of the Post Office (MISPO) :    A popular scheme of the post office, the MISPO is meant to provide regular monthly income to the depositors. The salient features of this scheme are as follows:

  • The term of the scheme is 6 years.
  • The minimum amount of investment is  1,000. The maximum investment can be  3,00,000 in a single account or  6,00,000 in a joint account.
  • The interest rate is 8.0 percent per annum, payable monthly. A bonus of 10 percent is payable on maturity.
  • There is no tax deduction at source.
  • There is a facility of premature withdrawal after one year, with 5 percent deduction before 3 years.

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