| Interest payable, Rates, Periodicity etc. | Minimum Amount for opening of account and maximum balance that can be retained |
|---|---|
| From 01.04.2020, interest rates are as follows: 6.6% per annum payable monthly. | In multiples of INR 1000/- Maximum investment limit is INR 4.5 lakh in single account and INR 9 lakh in joint account. An individual can invest maximum INR 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. |