Post Office Monthly Income Scheme (MIS) is meant for investors who want to invest a sum amount initially and earn interest on a monthly basis for their livelihood. The scheme is, therefore, more beneficial for retired persons.
Important Changes in the scheme :
Please click / tap on feature name to hide / view its content.
A guardian on behalf of minor or a person of unsound mind.
A minor who has attained the age of 10 years.
Where amount is deposited in excess of the specified limit, the depositor shall be requested to withdraw the same. Such excess deposit shall carry the POSB interest rate from the date of deposit till the date of withdrawal.
Any number of accounts can be opened subject to the maximum prescribed limit for deposit.
|Upto 30.11.2011||8.00% p.a. + bonus of 5 % of the deposit amount on maturity after six years)|
|01.12.2011 to 31.03.2012||8.20% p.a. (No bonus is payable on accounts opened on or after 01.12.2011.)|
|01.04.2012 to 31.03.2013||8.50% p.a.|
|01.04.2013 to 31.03.2016||8.40% p.a.|
|01.04.2016 to 30.09.2016||7.80% p.a.|
|01.10.2016 to 31.03.2017||7.70% p.a.|
|01.04.2017 to 30.06.2017||7.60% p.a.|
|01.07.2017 to 31.12.2017||7.50% p.a.|
|01.01.2018 to 30.09.2018||7.30% p.a.|
|01.10.2018 to 30.06.2019||7.70% p.a.|
|01.07.2019 to 31.03.2020||7.60% p.a.|
|01.04.2020 onwards||6.60% p.a.|
No bonus is applicable to any premature closure of the Account.
Disclaimer : This site does not make any claim that the information provided on its pages is correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.