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    Post Office MIS Rules & Guidelines

    We found 3 Post Office MIS Rules & Guidelines

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Good to Know
    Up to ₹1Cr
    1 Year to 5 Years
    7% - 7.8% Quarterly compounding
    Response Time Within 30 minutes
    Good to Know

    Post Office MIS Rules & Guidelines is Rated as "Excellent!" by 13 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    Introduction on POMIS

    If you are searching for a good capital gain with a safe investment prospect, then Post Office Monthly Income Scheme (POMIS) could be your last stop. Yes, aside from providing mails, post office offers a slew of services that entails sale of forms, utility bill collection, lucrative savings plans, life insurance covers etc. Usually, people tend to park their funds in fixed deposits and in other mortgage investments policies. But POMIS assures you better perks compared any other similar financial product. Savings Policies offered by Post Offices are hassle free and risk free as there is no touch of equity in them. This policy serves to be a perfect option, particularly if you are a retired government employee or a senior citizen as it fetches home a fixed monthly income just like your pension. It is secure and risk free and ensures guaranteed return.

    Let us take a look at the rules and directives of this scheme.

    Post Office Monthly Income Scheme (MIS) Rules & Guidelines:

    • You will be paid interest at the rate of 8.40 percent per year every month.
    • Deposits can be made in multiples of INR 1500.
    • Uppermost investment limit is INR 4.5 lacs in one account and INR 9 lacs in one joint account.
    • A person can put in a maximum of INR 4.5 lacs in MIS (this includes his/ her share in joint accounts).
    • For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.
    • A Post Office MIS Scheme can be started by an individual.
    • You can start the account by paying cash or cheque and in case of cheque the date of realization of cheque in Government account shall be day of starting the account.
    • The scheme is endowed with a nomination facility, which will be available to you when you open the account.
    • One account can be transacted 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.
    • Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
    • Joint account can be opened by two or three adults.
    • All joint account holders are equally entitled to the returns from the account.
    • Single Post Office MIS account can be changed into Joint and vice versa.
    • If the account is started for your child, you can change the account to the child’s name after applying for conversion.
    • The account maturity tenure is five years with effect from the year 2011.
    • Interest shall be drawn via automated credit into savings account being at the same post office, through PDCs or ECS.
    • In case of MIS accounts being at CBS Post offices, your monthly interest can be put into savings account standing at any CBS Post offices.
    • The MIS account can be cashed ahead of time after completion of one year. But if you are doing it before three years is completed there will be two percent deduction from the deposit and after three years, it will be one percent deduction from the deposit.
    • A bonus of five percent on principal sum is allowable on maturity with respect to MIS accounts started on or after the year 2007 and up to 2011. But there will be no bonus owed on the deposits made on or after the year 2011.

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