There are many investment schemes under the Postal Department and Banks where you can make safe investments and earn a fixed amount of income every month. The important thing is to choose the best scheme among them and invest. Let's know more about such a plan that pays a fixed amount every month. Better income can be acquired through the Monthly Income Scheme (MIS) under the Postal Department.

One can invest in the scheme from Rs 1000 to Rs 9 lakh. The investor can join the scheme by depositing money individually or in joint accounts. A one-time investment will also earn interest at the rate of 7.4 percent per month. The investor will also get monthly income for five years. Parents can join the scheme for minors and mentally retarded.

A maximum of Rs 9 lakh can be invested in single plan and Rs 15 lakh in joint accounts. The investor will start getting interest exactly one month after opening the account. If you make an investment of 9 lakh rupees, you will get an income of 5,550 rupees per month. If you invest Rs 8,11,000 you will get Rs 5000 per month. The duration of the project is five years. You can withdraw from the plan even before the completion of the period. The deposit amount cannot be fully withdrawn. No further tax benefits are available to MIS under Section 80 C of the Income Tax Department.