What is the maximum limit of MIS?
Table of Contents
What is the maximum limit of MIS?
Uppermost investment limit is INR 4.5 lacs in one account and INR 9 lacs in one joint account. A person can put in a maximum of INR 4.5 lacs in MIS (this includes his/ her share in joint accounts).
How many MIS account can be opened?
Multiple account ownership: You can open more than one account in your name. But the total deposit amount cannot exceed Rs. 4.5 lakh in all of them together.
Which is the best MIP in India?
Best Monthly Income Funds (MIPs) to Invest in 2021
| Funds Name | Returns(\%) | |
|---|---|---|
| HDFC Hybrid Debt Fund | -2.04 | 5.06 |
| ICICI Prudential MIP 25 | 4.7 | 7.7 |
| ICICI Prudential Monthly Income Plan | 5.5 | 9.1 |
| Invesco India Regular Savings Fund | 5.7 | 6.9 |
Which bank is best for MIS scheme?
Best Bank For Monthly Income Scheme
| Bank | Interest Rate | Tenure |
|---|---|---|
| ICICI Bank Fixed Deposit | 2.75\% – 4.70\% | 7 Days – 10 Years |
| Axis Bank | 2.50\% – 5.75\% | 7 Days – 10 Years |
| ICICI Home Finance | 4.30\% – 6.45\% | 12 Months – 120 Months |
| Kotak Bank | 2.50\% – 5.30\% | 7 Days – 10 Years |
Can MIS account be extended?
The tenure for Post Office MIS is 5 years and can be extended to another 5 years on maturity. On maturity, the principal amount is returned back to the investor.
Can MIS be transferred?
Monthly Income Scheme (MIS) account can be transferred from one post office to another. The account can be prematurely encashed after one year but before three years at the discount of 2 per cent of the deposit and after three years at the discount of 1 per cent of the deposit.
Which bank gives highest interest per month?
Fixed Deposit Interest Rates by Different Banks
| Bank | Tenure | Interest Rates for General Citizens (per annum) |
|---|---|---|
| HDFC Bank | 7 days to 10 years | 2.50\% to 5.50\% |
| Axis Bank | 7 days to 10 years | 2.50\% to 5.75\% |
| Union Bank of India | 7 days to 10 years | 3.00\% to 5.50\% |
| Canara Bank FD | 7 days to 10 years | 2.90\% to 5.25\% |
What is the interest rate of MIS in bank?
6.60\% per annum
A monthly Income Scheme (MIS) is an investment scheme that promises the investor guaranteed returns at an interest rate of 6.60\% per annum. These returns can be availed as fixed monthly income.
How many times MIS can be extended?
Is MIS in Post Office taxable?
There is no TDS on the Post Office MIS, but the interest income is taxable in your hands.