Post Office Monthly Income Scheme is the perfect investment option for those who are risk averse and are looking for safe investment havens in monthly investment scheme.

Details of the scheme:

Interest Rate 7.6% per annum payable monthly
Minimum Investment Amount Rs. 1000, and then in multiples of 1000
Maximum Investment Amount Individual: Rs. 4.5 lakh
Joint: Rs. 9 lakhs


Post Office Monthly Income Scheme (POMIS) Features:

  • Account can be opened by a single adult, minor above 10 years of age, Joint Account (Maximum 3 adults) and a guardian on behalf of a minor or Person of unsound mind.
  • Account can be via cheque or cash and in case of Cheque the date of realization of Cheque in Govt. account shall be date of opening of account
  • Nomination facility is available at the time of opening and also after opening of account
  • Account can be transferred from one post office to another.
  • Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts (Rs. 4.5 Lakh)
  • Single account can be converted into Joint and Vice Versa
  • Minor after attaining majority has to apply for conversion of the account in his name
  • Maturity period is 5 years from 1.12.2011
  • Interest can be drawn through auto credit into savings account standing at same post office,or ECS.In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices
  • Can be prematurely en-cashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.)
  • A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07 and up to 30.11.2011. No bonus is payable on the deposits made on or after 1.12.2011
  • Interest shall be payable to the account holder on completion of a month from the date of deposit
  • If the interest payable every month is not claimed by the account holder such interest shall not earn any additional interest.

Post Office Monthly Investment Scheme :

The Post Office monthly investment scheme is a substantial scheme that can give you great returns in your later years. It’s a great monthly investment scheme that can yield much higher earnings in the later years. You can easily calculate your earnings from the monthly investment scheme using the post office SWP calculator available here on our portal.

Financial Journey with Post Office MIS and SWP Calculators

In this world of ever-changing finance, stability is essential. The Post Office Monthly Income Scheme is thus a beacon for those people looking to enjoy some sort of regular income stream. The Post Office Monthly Income Scheme and SWP Calculators are two sides of the same coin. Better together: MIS provides stability.SWP adds flexibility, resulting in a balanced investment strategy overall. So why does this traditional approach still work?
Guaranteed Returns: This scheme provides a fixed monthly income with interest rates.
Low Risk: The Post Office MIS is supported by the government and thus provides a stable investment environment.
Flexibility: Make your investment horizon flexible, timing it according to financial needs.

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