Money won’t grow in your mattress.
It will grow in a Fixed Deposit!
  • loading

    Post Office MIS Rules & Guidelines

     and 2 other FDs
    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    1 Year to 5 Years
    6.8% - 7.6% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

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

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    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.
     Loading your search... Loading your search...
  • PO MIS Guidelines Reviews

    • Post Office Fixed Deposit
      "Post office FD"
      0.5 4.0/5 "Great!"
      Post Fixed Deposit is good, when compared with bank deposit this is the best one. The reason why because if we can with draw from PO any time after one year no charges however when it comes to bank we have to hold up to 5 years,. No charges even if we break it after 1 year they will calculate the interest earned for one year and they will credit the amount. Most of the people are not aware about post office also they dont have online facility and these are all the drawback of Post office.
      Was this review helpful? 40
      , hyderabad
      Reviewed on Dec 29, 2016
    • Post Office Fixed Deposit
      "No waste of time"
      0.5 5.0/5 "Blown Away!"
      Too quick , too easy to open a FD at POST OFFICE. It takes hardly 10 minutes to open this FD. All I had to do is fill the form and they will courier my details to my mailing address. Its a one time visit there is no need for me to visit Post office again for the same purpose. Best of all, they are offering the best interest rate in the market.
      Was this review helpful? 31
      , bangalore
      Reviewed on Nov 25, 2016
    • Post Office Fixed Deposit
      "Not a good"
      0.5 2.0/5 "Expected more"
      I have got the fixed deposit account with the India post office. Interest rate is around 7.5% per annum and its the annual compounding and the total tenure is around twenty years of time and I have maintaining this account for my children future. Customer service is not a responsive one like its very difficult to handle.
      Was this review helpful? 59
      , mumbai
      Reviewed on Apr 26, 2016
    • Post Office Fixed Deposit
      "Excellent !!!!"
      0.5 4.0/5 "Great!"
      Interest rate offered by India post is approximately 6%-7.5% for the fixed deposit for the minimum lock in period of seven years . After five years we will get the lump sum amount. The amount to start the plan is Rs.1000. There is no activation or any maintenance fee.
      Was this review helpful? 33
      , hyderabad
      Reviewed on Mar 19, 2016
    • Post Office Fixed Deposit
      "Interest rate is good comparing to the banks..."
      0.5 4.0/5 "Great!"
      Only reason to go with India Post Office for fixed deposit is the rate as comparatively they are high as the percentage is 8.7%. Very well we can drop the deposit in middle but no idea about the penalty. Very soon they are going to introduce savings account to the people. If we speak about customer service they lack.
      Was this review helpful? 65
      , hyderabad
      Reviewed on Mar 02, 2016
    • Post Office Fixed Deposit
      "Best interest ...."
      0.5 4.0/5 "Great!"
      India post office is the best for fixed account. They are providing 8.4% interest which was very competitive. Minimum maintenance also good in India post office which was very convenient just 50rs. I would suggest them to provide more facilities to their senior citizens.
      Was this review helpful? 72
      , bangalore
      Reviewed on Jan 15, 2016
    • Post Office Fixed Deposit
      "secured..."
      0.5 5.0/5 "Blown Away!"
      I was infact suggested by one of the friend to this India Post office for fixed deposit. In comparison to banks the rate is little low in India Post office but it is a secured place to put our money. Also it very easy to send parcels to abroad as being a loyal customer of India post office.
      Was this review helpful? 55
      , bangalore
      Reviewed on Dec 21, 2015
    • Post Office Fixed Deposit
      "Secured one"
      0.5 4.0/5 "Great!"
      Indian Post Office it is a Government service and I would like to give 4 for Post office. It is very much secured . I am holding this FD for the past one year. The rate of interest offered by PO was 8.5%. I feel that investing at PO is very secured . I did not find any difficulty personally when I deposit there and I had opened this FD.
      Was this review helpful? 53
      , bangalore
      Reviewed on Dec 12, 2015
    • Post Office Fixed Deposit
      "Good one"
      0.5 5.0/5 "Blown Away!"
      Post office fixed deposit that a good one. I am holding this FD since 2011 for the past 5 years. Monthly I am depositing rs 550 which was a period of 20 years . The major benefit is I use this for income purpose and everything is fine.
      Was this review helpful? 41
      , coimbatore
      Reviewed on Dec 08, 2015
    • Post Office Fixed Deposit
      "Not great.."
      0.5 4.0/5 "Great!"
      Friend is working in India Post Office and through him I opened the fixed deposit. Nationalized banks and offices are not that great in customer service and they are not that approachable. I have easily processed because of my friend but it will not happen to normal customers. Employees are not bothered to help the public.
      Was this review helpful? 46
      , tiruchirapalli
      Reviewed on Nov 24, 2015
    • Post Office Fixed Deposit
      "Gives best rate "
      0.5 4.5/5 "Excellent!"
      India post is giving 9% interest rate for the fixed deposit for the minimum lock in period of 5 year. Minimum amount starts with Rs.500. For the pass book they charge Rs.200. The only issue we have to wait for long time to get deposit the amount.
      Was this review helpful? 59
      , secunderabad
      Reviewed on Nov 07, 2015
    • Post Office Fixed Deposit
      "Can increase the rate.."
      0.5 4.0/5 "Great!"
      To save the income tax I mainly opened the fixed deposit from India Post Office. I took it for 5 years of tenure and you get 9% of the interest rate for one year. The rate will accumulates like every year. Offers are good but they are slow as they are government sector.
      Was this review helpful? 45
      , bangalore
      Reviewed on Nov 06, 2015
    • Post Office Fixed Deposit
      "Satisfied.."
      0.5 5.0/5 "Blown Away!"
      Specifically for tax deduction I have chosen India Post office fixed deposit and benefits are fine. Post seven years the deposited amount would be doubled. While opening I was told that I can withdraw the amount in midst of the tenure and that is not complete amount as can take out 70%. In comparison to national savings scheme rate of interest is fine in India Post Office.
      Was this review helpful? 108
      , bangalore
      Reviewed on Sep 03, 2015
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.