Post Office Monthly Income Scheme 2022, MIS Account

Post Office MIS Interest Rate

Indian Post Office has impacted persons’ lives by offering a social network to connect with others and assist in their financial development. It provides enticing savings plans where investors can lodge money and earn decent returns. The Monthly Income Scheme is a service offered by the post office, just like the MIS scheme in banks. The post office MIS interest rate 2022 is one of the best rates you can get on your deposits. The interest rates provided are usually better than post office fixed deposits.

A minimum of ₹1,000 is required for the customer to open a deposit. For individual and joint accounts, respectively. The maximum amount permitted under the scheme is ₹4,50,000 and ₹9,00,000. Up to ₹4,50,000 can be invested by an individual in MIS, including his part in joint accounts. The consumer who opens the deposit benefits from consistent monthly income. The interest earned is taxable under Income-tax Act.

Details of the POMIS

Features Details
Minimum amount ₹1000
Maximum amount Up to ₹4.5 lakh in a single account and Up to ₹9 lakh in a joint account
Interest 6.6% p.a.
Tenure Five years


Any Indian resident can open an account with the post office. The types of accounts held include –

  • Individual
  • Joint
  • Minor with the parent

Procedure for Account Opening

Any general post office allows you to open an account. To attach the monthly payout weakspell mlb, the consumer should have a post office savings account. You need the following documents to open an MIS account.

Documents required

To start your POMIS, you have to provide the following documents.

  • An application form that the post office provides.
  • Address and Identity proof. (Passport, Aadhaar Card, PAN Card, or declaration in Form 60 or 61 as per the Income Tax Act, 1961, Driving Licence, Voter ID Card)
  • Two passport-size photographs.

POMIS for Children

You can invest in the Post Office Monthly Income Scheme whether your children are boys or girls. While investing, however, ensure that your child is at least ten years old. The investment must be made with a minimum of 1000 each month for a minimum of 5 years.

Withdrawal Charges

The POMIS has a minimum lock-in term of one year. However, if you want to withdraw money before the loan’s maturity date, you’ll have to pay the following fees:

  • If you take a premature withdrawal before the three years, there will be a deduction of 2%.
  • If you withdraw prematurely after three years, there will be a deduction of 1%.

Features and Benefits

Some salient features and benefits of the POMIS are veibae face as follows —

  • A favourable interest rate with monthly returns.
  • Existence of a nomination facility.
  • Minors are permitted to open accounts. They must have a guardian with them.
  • A group of two to three persons can open an individual or joint accounts.
  • The deposit can be in multiples of ₹ 1,000. The maximum investment amount is ₹ 4,50,000 for a single or individual account and ₹ 9,00,000 for combined accounts.
  • You can use cash or checks to open the account.
  • You can open multiple accounts, change an individual account to a joint account, and vice versa.


The Post Office Monthly Interest Scheme provides an option for sustainable growth. With an attractive interest rate and monthly returns, it is one of the best schemes of Post Office Fixed Deposit. The availability of post offices throughout the country is also beneficial for investors all over the nation. 

The post office MIS interest rate 2022 is one of the best rates you will get with a safe deposit. POMIS provides even better stability than a fixed deposit. Visit a nearby post office today and make use of the POMIS today.

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