Post Office Monthly Income Scheme

What Is Post Office Monthly Income Scheme Its Benefit

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Post Office Monthly Income Scheme, The Post Office Monthly Income Scheme currently offers an annual interest rate of 6.6 percent on deposits. Investors can also open a joint account under the scheme to get maximum benefit of the scheme. The interesting thing is that under the Post Office Monthly Income Scheme 3 investors can open a joint account. You can invest in this scheme in multiples of Rs 100 or Rs 1000.

However, you need to invest at least Rs 1000 in this scheme, while the maximum investment under the scheme is Rs 9 lakh. Under this scheme, you can get a pension of Rs 3300 per annum by investing just Rs 50,000. Investors will get a total of Rs 16,500 as interest before interest for five years.

It is worth mentioning that to get more pension, you can invest more money in this scheme. If you invest Rs 1 lakh in this scheme, you will get a pension of Rs 6600 or Rs 550 per month.
Similarly you can deposit Rs 4.5 lakh or get Rs 148500 as interest to get monthly pension of Rs 2475 or Rs 29700 under MIS scheme.

Money will be available every month from this scheme of Post Office, know what is this …
You can open your savings account by visiting your nearest post office. A separate form has to be filled for monthly income scheme.

Post Office Monthly Income Scheme

Post Office Saving Schemes: In the new year, most people are engaged in revamping their portfolio. Taking lessons from the Corona virus last year, people have focused their attention on saving and increasing income. If you are also planning something similar, then we have come up with such an investment plan for you where you will have a fixed income every month as well as your money will be completely safe.

You can invest a minimum of Rs 1,000 and a maximum of Rs 4.5 lakh in a personal account under POMIS. The maximum amount limit in a joint account is up to Rs 9 lakh.
An account can also be open in the name of a minor in the Post Office Monthly Income Scheme (POMIS), but up to Rs 3 lakh can be invested in such an account.

India Post MIS Scheme Although many banks offer MIS (Monthly Income Scheme) customers, but even today this scheme of India Post is very much liked by the people. In this scheme, you can join both husband and wife and can make a future. Jamshedpur: With time, the post office is also changing rapidly.

Keeping in view the demand of the customers, the post office has come up with many special schemes. Post offices are being develop on the lines of banks. In such a situation, these days there is a lot of discussion about this special scheme in the post office. More and more people want to take advantage of it. So don’t delay too.

Post office monthly plan is a benefit


Actually, a special scheme is being run by the Post Office Monthly Income Scheme. Through which both husband and wife together can earn Rs 59,400 annually. The name of this scheme is Post Office Monthly Income Scheme, through which you can earn Rs 2475 every month. You can open a joint or single account in this.

In this scheme, you can invest from 1000 rupees to a maximum of 4.5 lakh rupees. However, the maximum amount that can be deposited in a joint account is Rs 9 lakh.

will get money every month
Under this scheme, customers get 6.6 percent interest annually. Its maturity period is five years. In such a situation, if you deposit Rs 4.5 lakh in lump sum, then after five years you will get Rs 29,700 every year.
That is, you will earn Rs 2575 every month. The best part of this scheme is that two or three people can jointly open the account. Along with this, if you want to single out this account, then that will also be done.

Formula to earn Rs 4950 per month


The special thing about the monthly income scheme of the post office is that its interest is calculated every year. You can understand it in such a way that if an investor has opened a joint account in this scheme and deposited 9 lakh rupees in it together, then you can earn Rs 4950 every month.

The annual interest on the principal amount is Rs 59,400 at the rate of 6.6 per cent. In this sense, your monthly interest amount becomes Rs 4,950, which you can take every month. The amount you will get every month will be interest only and your principal amount will remain the same. Which you can withdraw on maturity.

The amount can be increased even further
You will continue to get monthly interest of Rs 4,950 according to the maturity of 5 years. By the way, if you want, you can extend your maturity even further. Under this scheme, you can open an account with just Rs 1000. If you open a single account, then you can deposit a maximum of Rs 4.5 lakh, while if you want to open a joint account, then you can deposit a maximum of Rs 9 lakh in it.

Key Features of Post Office MIS

The main features of the Post Office MIS Scheme are.
maximum limit for a single account is Rs. 4.5 lakhs.
The maximum limit for joint accounts is Rs. 9 lakhs.
The maximum limit for a minor account is Rs. 3 lakhs.

Salient Features of Post Office Monthly Income Scheme
POMIS Account can be transfer from one post office to another. The best part is that it can be done absolutely free!
For each post office deposit made by you, a separate account has to be opened. The good thing is that a person can open ‘N’ number of accounts (of course up to the upper limit).

Post Office Monthly Income Scheme Benefits


The date of receipt of the check will be the date of opening of the account if the check is use to open an account under the Post Office Monthly Income Scheme.
In case of joint account, each account holder will have an equal share
There is no limit on the number of POMIS accounts held singly/jointly.
A minor of 10 years of age or more can avail the post office monthly income scheme account. On turning 18, he will be ask to convert his minor account to an adult account.
The post office credit goes directly to the investor’s post office savings account through ECS/CBS on a monthly basis.

The Post Office is currently offering an annual interest of 6.6% in Monthly Income Scheme (MIS). Investors’ money in the Post Office Monthly Income Scheme will double in about 10.91 years.

Post Office Saving scheme:- The post office runs many small savings schemes in which investors can get bumper returns even by depositing some money. The post office savings schemes are support by the government as the postal department is completely under the control of the central government. Its interest rates are fixed by the government. There has been no change in post office interest rates for the current September quarter. This means that the interest that investors are already earning, the same will continue to earn them in this quarter as well.

The government guarantees returns on small savings schemes. Due to this, investors deposit money without worry. There are many schemes in which more interest is available than big banks. Even government schemes cannot compete with post office savings schemes. Let us have a look at some such schemes.

1. Post Office Time Deposit


Post Office Time Deposit (TD) is a type of fixed deposit investment offer by public and private banks in India. Investors can invest in this scheme for a tenure of 1 to 3 years to get 5.5 per cent interest. Investors can get an interest of 6.7 per cent on a five-year deposit. This means that investors’ money in this scheme can double in about 10.75 years.

2. Post Office Savings Bank Account
Post Office Savings Bank Account gives investors an opportunity to save their money in the bank account. However, investors get only 4% annual return on their investment, which means that their investment will almost double in 18 years.

3. Post Office Recurring Deposit Scheme
Post Office Recurring Deposit Scheme ie Recurring Deposit Scheme is one of the most popular investment schemes offer by the post office. Currently, the Indian Post Office is offering 5.8% annual interest on investments in Post Office Recurring Deposit (RD). The amount invested in the Post Office Recurring Deposit Scheme doubles in 12.41 years.

4. Post Office Monthly Income Scheme (MIS)
The Post Office is currently offering an annual interest of 6.6% in Monthly Income Scheme (MIS). Investors’ money in the Post Office Monthly Income Scheme will double in about 10.91 years.

5. Post Office Senior Citizen Savings Scheme


At present, investors in the Post Office Senior Citizen Savings Scheme (SCSS) for seniors get an interest of 7.4%. The amount invested will double in about 9.73 years at current interest rates.

6. Post Office PPF
The 15-year Public Provident Fund (PPF) scheme run by the post office is also one of the most sought-after investments in India. At present the investors get an interest rate of 7.1%, which doubles in 10.14 years in the scheme.

7. Post Office Sukanya Samriddhi Yojana
Investors get the highest interest rate of 7.6% in the Post Office Sukanya Samriddhi account made for girls. The investment in this scheme doubles in approximately 9.47 years, thereby providing bumper returns to the investors.

8. Post Office National Savings Certificate
The Post Office National Savings Certificate (NSC) offers an interest rate of 6.8% on investments. The amount invested in this 5 year savings plan almost doubles in 10.59 years. Investors can also take advantage of tax exemption in the scheme.

9. How To Open Post Office MIS Account

Follow the steps given below to open an account under Post Office Monthly Income Scheme.
First of all you should have a post office savings account.
If you do not have an account. So open the same account, get the application form from your post office (India Post).
OR Click Here to Download Pomis Account Application Form (Post Office MIS Account Application Form Download).
Fill the form with copies of all required documents and submit it to the post office.

10. post office savings account
The account is similar to a bank savings account, only it is in the post office, you can open only one account in one post office, which can be transfer from one post office to another. You can also open an account in the name of a minor. The interest rate is 4% and is subject to tax. Although income tax is not deduct.

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