Post Office Monthly Income Scheme

Monthly income scheme:

Under monthly income scheme, an investor is required to make a one-time deposit. The maximum amount of deposit is Rs 4,50,000 in a single account and Rs 9,00,000 in a joint account. The rate of interest offered is 8.4 per cent and the scheme yields monthly income on the deposits made. The maturity proceeds are after five years. Earlier a bonus of 5 per cent was paid on maturity, which has been discontinued from December 1, 2011. Interest income is liable to tax, but the investment is not chargeable to wealth tax.


Monthly Income Scheme (MIS) Account

  • Safe & sure way to get a regular monthly income.
  • Specially suited for retired employees/ Senior Citizens or any one with high sum for investment.
  • Rate of interest 8.40%.
  • Maturity Period - Five Years.
  • No Bonus on Maturity w.e.f. 01.12.2011.
  • Auto credit facility to SB Account.


Type of Account

Minimum limit

Maximum limit


INR 1500/-

INR 4.5 lakhs


INR 1500/-

INR 9 lakhs


Above scheme operates automatically, if you open a saving bank account and give a request for automatic transfer of Monthly Income Scheme interest to Recurring Deposit through Saving Bank account. 

Small savings rates for FY 2015-16 announced

The government today announced key small savings rates for the new fiscal, 2015-16, that starts from 1st April,2015


Public Provident Fund: 8.7 percent (unchanged from FY15)

Kisan Vikas Patra: 8.7 percent (unchanged)

10 year National Savings Certificate: 8.8 percent (unchanged)

5 year NSC: 8.5 percent (unchanged)

5 year Monthly Income Scheme: 8.4 percent (unchanged)

5 year time deposit: 8.5 percent (unchanged)

5 year recurring deposit: 8.4 percent (unchanged)

1-3 year time deposits: 8.4 percent (unchanged)

Savings deposit - 4 percent (unchanged)

The government annoucned changes in two schemes:

5 year Senior Citizen Saving Scheme: increase from 9.2 percent to 9.3 percent

Sukanya Samriddhi Account Scheme: increase from 9.1 percent to 9.2 percent

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