Highlights
Maximum investment limit is Rs 4.5 lakh in single a/c.
Rs 9 lakh in joint account.
Post Office Small savings schemes are ideal for those people with low risk appetite, as they offer guaranteed return. Among several Post Office Small savings schemes, one such scheme that offers great returns is the Monthly Income Scheme.
An account can be opened in multiples of Rs 1000. The maximum investment limit is Rs 4.5 lakh in single account and Rs 9 lakh in joint account. An individual can invest maximum Rs 4.5 lakh in MIS (including his share in joint accounts). For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.