Bumper Scheme For Children’s
Bumper Scheme: 2500 rupees per month if this account is opened in the name of children above 10 years
Post Office Monthly Income Scheme: Post Office Schemes are useful for those who want to earn profit with less risk. Post Office MIS is a savings scheme. By investing once every month you can use it as income in the form of interest
There are many benefits of this account. This account can be opened in the name of children above 10 years. If you open this special account in your children’s name, you can pay the tuition fees with interest earned every month. Learn more details about this project here.
Where and how to open an account?
You can open this Post Office Monthly Income Scheme benefits account at any post office. Under this you can deposit a minimum of Rs.1000 and a maximum of Rs.4.5 lakhs.
Currently, the interest rate under this scheme is 6.6 percent. If the child’s age is above 10 years, you can open this account (MIS Benefits) in their name. If less, parents can open this account. The duration of this project is 5 years. It can be continued even after that. If your child turns 10 and you deposit Rs 2 lakh in their name,
Your interest is currently Rs 1100 per month at the rate of 6.6%. In five years this interest totaled Rs. 66 thousand will be. In the end you will get Rs. 2 Lakhs you get back.This is one of the best monthly income plans offered by India Post Department. Along with this, a small child gets Rs 1100 which you can use for his education. Also, this amount is of great help to parents.
Special feature of this account is that you can open a joint account with one or three adults. If you deposit Rs 3.50 lakh in this account, you will get Rs 1925 per month at the current rate. This is a huge amount for school going children.
As already mentioned you can cover expenses like school fees, tuition fees, pens etc. If you deposit a maximum limit of 4.5 lakhs in this scheme, you will get interest of Rs.2475 every month