Smart Savers: #2 Post Office Monthly Income Scheme Account
Monday, April 3, 2017, 1:06 PM
It is a six-year savings scheme offered by designated post offices. It offers guaranteed monthly returns on deposits. The account can be opened singly or jointly, with a minimum investment of Rs 1,500. The maximum is capped at Rs 4.5 lakh if the account is held singly and at Rs 9 lakh, if jointly. One can open multiple accounts, but overall limits stay.