Savings And Investment Scheme Guide For Indian Poor And Middle Class:Post Office Monthly Income Scheme

What Scheme Mean?
The Post Office Monthly Income Scheme is a guaranteed returns investment available at the post office.On the deposit that you make with the post office you get an assured Monthly Income.

As to be resident of Indian with Postal saving account.

Entry Age
No age Limit
A minor Above 10 years can open a account on their name itself.(3 lakh is the limit)

Maximum:Rs4.5 Lakh in a single account
Maximum:Rs9 Lakh in a joint Account.

8.2% per annum paid monthly

Account Holding Type

5 years

Tax Benefits
No tax benefits.

How to Join The Scheme/Account/Deposit/Policy?
  • You must have a  Post Office savings account.
  • Account opening form as to be filled.
  • Two passport size photo.
  • Address and Identity proof.
  • Carry Original Document for verification.
  • Choose a nominee and witness.

Objective And Risk
The main objective of the POMIS is to provide an assured 8.2% returns paid monthly to the account holder which helps them create a guaranteed regular income.Though it offers no tax incentive,it is preferred instrument amongst smaller savers for the government backing that this product offers.

POMIS is good earning system than Recurring Deposit.So it returns effective earnings.


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