Post Office Monthly Income Scheme

Post Office Monthly Income Scheme

Certainly! The Post Office Monthly Income Scheme (POMIS) is a savings scheme offered by the Indian Postal Service. Here are the key details:


Individual or joint accounts (up to three adults)
Minors can also invest through guardians
Can be opened at any post office in India
Investment Amount:
Minimum investment: Rs. 1,500
Maximum investment: Rs. 9 lakhs (for a single account) or Rs. 15 lakhs (for a joint account)
Interest Rate:
Interest rates are fixed and declared by the government quarterly
Interest is paid monthly


The scheme has a fixed tenure of 5 years

Interest Payment:

Interest is directly credited to the account holder’s savings account if in the same post office; otherwise, it is paid through a warrant (cheque)


Interest earned is taxable
Premature Withdrawal:
Premature closure allowed after one year with a penalty


At the end of the 5-year Tenure, the principal amount is returned


It provides a fixed income source with guaranteed returns.
Low-risk investment option backed by the government.


The scheme is backed by the Indian government, making it a secure investment option
It’s essential to visit your local post office or their official website for the most up-to-date information on interest rates, terms, and conditions as these might have changed since my last update.

How to Open:

Visit any post office with the required documents (ID proof, address, etc.) to open a POMIS account.