Monthly Income Scheme: From deposit limit to taxation, 10 important details to know about this account

Monthly Income Scheme: From deposit limits to taxation, here are 10 key facts about this account.

The National Savings Monthly Income Scheme (MIS) is a deposit scheme that offers an annual interest rate of 6.6%.

[{"selector":"#anim-f5ef2442-91b0-490a-9094-74df16f6141a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-148f9e63-449c-4b1b-ba8f-453cca2ec431","keyframes":{"transform":["translate3d(0px, 157.82202%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The government sets the rate on a quarterly basis, and it has remained unchanged since 1 April 2020.

[{"selector":"#anim-09b75551-0454-4342-aade-6b07ca06df11","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1ea1df0e-fad4-4214-aedb-58a830a599a8","keyframes":{"transform":["translate3d(0px, 192.11249%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The account can be opened in multiples of Rs 1000, and the maximum investment limit in a single account is Rs 4.5 lakh and Rs 9 lakh in a joint account.

[{"selector":"#anim-fac0109f-84ae-44f1-9bd3-95d7e935d788","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd8760a5-5968-4932-8438-29cbfbc159b2","keyframes":{"transform":["translate3d(0px, 146.49895%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Monthly Income Scheme: From deposit limits to taxation, here are 10 key facts about this account.

The National Savings Monthly Income Scheme (MIS) is a deposit scheme that offers an annual interest rate of 6.6%.

The government sets the rate on a quarterly basis, and it has remained unchanged since 1 April 2020.

The account can be opened in multiples of Rs 1000, and the maximum investment limit in a single account is Rs 4.5 lakh and Rs 9 lakh in a joint account.

Swipe up to know 10 factors of Monthly Income Scheme so that you can get more profit on your investment.