Table of Contents
- 1 Which scheme is best for monthly income in post office?
- 2 Which is better MIS or FD in post office?
- 3 What is monthly income scheme of post office?
- 4 Is there any Monthly income Scheme in SBI?
- 5 Which scheme is best in post office?
- 6 Is MIS in Post Office taxable?
- 7 Which deposit scheme is best in SBI?
- 8 What is Post Office monthly income scheme?
- 9 Why invest in a post office investment scheme?
- 10 Can a minor invest in post office savings scheme?
Which scheme is best for monthly income in post office?
Comparing Post Office MIS with other Monthly Income Plans
| POMIS | Monthly Income Mutual Fund |
|---|---|
| Assured income at an annual rate of 6.6\% | Invested in 20:80 equity-debt ratio and hence no guaranteed income |
| No TDS | TDS applied |
| Fixed return rate | Floating rate as per the market movement |
Which is better MIS or FD in post office?
A fixed deposit offers the lowest risk of any investment option, whereas an MIS almost always carries some risk as a portion of the investment is in equities. In the case of an FD, which offers a fixed return, the risk is low—almost non-existent.
What is rate of MIS in SBI?
The interest rate on the SBI Monthly Income Scheme Fixed Deposit is in the range of 2.90\% to 5.10\%. The interest in this scheme is credited monthly in the depositor’s account.
What is monthly income scheme of post office?
(POMIS)
Post Office Monthly Income Scheme (POMIS) is one of the most popular risk-free post office saving schemes where an investor can invest with a minimum deposit of ₹1,000.
Is there any Monthly income Scheme in SBI?
State Bank of India’s (SBI) Annuity Deposit scheme is a type of fixed deposit that offers a fixed payout on a monthly basis for the tenure opted by you. As per SBI official website, a fixed amount is provided to the account holder in equated monthly instalments (EMIs).
What is the interest rate of MIS in post office?
1] Interest rate: As this post office small saving scheme is a lock-in product, its interest rate will remain fixed as per the rate of return at the time of investment. For example, Post Office Monthly Income Scheme interest rate is currently at 6.60 per cent per annum.
Which scheme is best in post office?
Post Office Interest Rates 2021
| Scheme | Interest Rate (\% p.a) | Best for |
|---|---|---|
| Post Office Time Deposit Account (TD) | 5.5 | Small savings |
| Post Office Monthly Income Scheme Account (MIS) | 6.6 | Small savings |
| Senior Citizen Savings Scheme (SCSS) | 7.40 | Retirement |
| Public Provident Fund Account (PPF) | 7.10 | Risk-averse investors |
Is MIS in Post Office taxable?
There is no TDS on the Post Office MIS, but the interest income is taxable in your hands.
What is the interest rate of MIS in SBI 2021?
The SBI monthly income scheme fixed deposit has an interest rate ranging from 2.90\% to 5.10\%.
Which deposit scheme is best in SBI?
SBI FD interest rates range from 3.40\% to 6.20\% per annum for deposits less than Rs 2 Crore. For tenure of 1 year to 5 years, one can avail the highest FD interest rates SBI of 6.20\% per annum on Senior citizen SBI FD.
What is Post Office monthly income scheme?
Post Office Monthly Income Scheme Monthly Income Scheme (MIS) is an investment scheme that promises the investor guaranteed returns at an interest rate of 7.9\% per annum. These returns can be availed as fixed monthly income. Post Office Monthly Income Scheme (POMIS) is an investment scheme of Indian postal service.
Is there any special MIS in SBI?
There is no special MIS in SBI except term deposit with interest payable on monthly basis. But Post office has a MIS and it gives slightly more interest.
Why invest in a post office investment scheme?
A post office investment scheme guarantees fixed monthly income at a 8.5\% annual rate A debt oriented mutual fund in which the investment is made in equity-debt instruments in a 20:80 ratio Monthly income is not guaranteed. Rather, it depends on the returns earned for that particular period Monthly income is fixed and guaranteed.
Can a minor invest in post office savings scheme?
The best thing about this post office savings scheme is that the lower cap on the entry age is set at 10 years. So, even a 10 year old minor can open a POMIS account in his name. The maximum amount that a minor can invest is Rs 3,00,000. Post Office Monthly Income Scheme vs. Monthly Income Plans?