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The Post Office Monthly Income Scheme (PO MIS) is a small investment and savings scheme.

Main Features/ Rules

  • This scheme provides a regular monthly income to the depositors and has a term of 6 years.
  • Minimum amount of investment is Rs.1500/-, and maximum amount in case of single account is Rs.4,50,000/-, and in case of joint account is Rs.9,00,000/-.
  • Interest rate is 8% p.a. payable monthly with a bonus of 5% payable on maturity.
  • Nomination facility is available.
  • Rebate under section 80 C is NOT admissible.
  • Most suitable scheme for senior citizens and for those who need regular monthly income.
  • Deposits are exempt from Wealth Tax.
  • No TDS
  • Premature withdrawal / encashment / closure and Penalty – Premature withdrawal of the invested amount is allowed after 1 year of opening the account.
    1. If the account is closed between 1 and 3 years of opening, 2% of the deposited amount is deducted as penalty.
    2. If it is closed after 3 years of opening, 1% of the deposited amount is charged as penalty.
    3. The bonus amount is forfeited when you close the account early.


  • Interest rate: 8.2%p.a., Maturity period: 5 years, No bonus w e f 1-12-2011

  • pal says:

    i need to know at present interest rate and maturity period… and also whether the MIS scheme is applicable for tax exemption or not…….

  • R.Ramaswamy says:

    I have a Post Office MIS account for Rs.6,00,000/-. The account was opened in April 2006 and is maturing this month. How much bonus will I get? Whereas my Passbook mentions 10% bonus, the website mentions 5%. which one is correct?

  • ramya says:

    How can we apply for MIS account who are eligible is it comes under tax savings???

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