Post Office Monthly Income Scheme 2019 – MIS Calculator / Bonus / Interest Rate

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Post Office Monthly Income Scheme 2019 is a best five year investment with maximum ceiling of Rs. 9 lakh under joint ownership and Rs. 4.5 lakh under single ownership. Central government now fixes interest rate at 7.6% p.a (w.e.f 1 October 2019) payable monthly. Subscribers can calculate their interest earned through mis calculator and also see bonus amount after every month. All those candidates who wants to earn regular income every month can make investment.

PO-MIS investment does not qualify for any tax benefit under s/c 80 C and interest earned is fully taxable. Post office does not provide bonus on accounts opened after 1 December 2011. The maturity period is 5 years while premature withdrawal is subject to deduction in the principal amount.

This type of investment keeps your amount intact, provide better guaranteed returns along with ensuring fixed monthly income. Interested candidates can download the MIS Application Form and open their mis savings account. People can Compare All Post Office Schemes 2019 before making investment.

Post Office Monthly Income Scheme Calculator / Interest Rate

Monthly Income Scheme Offers an annual interest rate of 7.6% p.a. So, an amount of 1,00,000 deposited in mis account yields a monthly payout of Rs. 608 every month. People can see PO Monthly Income Scheme Calculator to calculate their regular monthly income.

Just click this link and enter the values in the un-shaded cells under POMIS Calculator section. Then the candidates will get all the details about monthly income, premature withdrawal amount at different intervals, bonus and principal amount at maturity.

Post Office Savings Monthly Income Scheme Account

Either of the parents can open this best monthly income scheme account in the name of minor below 10 years of age. The important features of this po monthly income scheme are as follows:-

  • Post Office Monthly Income Scheme provides assured return of mis interest rate 2019 of 7.6% per annum.
  • This type of investment is absolutely risk free. Subscribers also get the facility of nomination.
  • People can earn fixed monthly payouts directly into their account. Auto Credit facility directly into the post office savings account is also available at any CBS Post Office.
  • All the account holders open Recurring Deposit (RD) Account and deposit the interest earned in RD along with this scheme to grow their invested amount.
  • Even minors are also applicable to invest in this scheme. After 10 years, they can apply for account conversion in their own name and then can individually operate their account.

People can withdraw money directly from PO or can get credited in their savings account through ECS. People must withdraw their interest on monthly basis. If not so, then the interest earned will not yield any further profit, it sits idle. All those who want to open mis account can download the application form – MIS Account Opening Form

Central Government Schemes 2021केंद्र सरकारी योजना हिन्दीPopular Schemes in Central:Narendra Modi Schemes ListNREGA Job Card Listसरकारी योजनाओं की सूची हिंदी में

Post Office Monthly Income Scheme Bonus

The minimum amount that any individual must deposit is Rs. 1500 and in its multiples thereafter. Minors can invest a maximum amount of Rs. 3,00,000. The maximum amount that any individual can invest is Rs. 4,50,000 in single account. For joint account this limit is Rs. 9 lakh. Moreover in joint account also, the maximum share of any person can be Rs. 4,50,000. All joint account holders shares equal share in mis savings account.

All the accounts opened between 8 December 2007 and 30 November 2011 will get a monthly income scheme bonus of 5% on principal amount. All the accounts opened on or after 1 December 2011 are not liable for any bonus on principal amount. This is the best monthly income scheme of post offices without any risk factor involved.

Post Office Monthly Income Scheme Premature Withdrawal

MIS scheme has a lock-in period of 5 years (w.e.f 1 December 2011). All the subscribers will get fixed monthly income in this duration. However, people can opt for premature withdrawal before completing 5 years which is subject to the following conditions:-
Premature Encashment

Duration of WithdrawalReturn / Deduction
Less than 1 yearSubscribers get nothing
Between 1 to 3 yearsDeduction with 2% nomination (penalty)
Between 3 to 5 yearsDeduction with 1% nomination (penalty)
After 5 yearsFull Deposit Back

People will get bonus of 5% on the maturity period of MIS Accounts opened between 8 December 2007 and 30 November 2011. No bonus is applicable on accounts opened after 1 December 2011.

POMIS Eligibility Criteria

The candidates must fulfill the following eligibility criteria to invest in this scheme:-
— Candidates must be an Indian Resident. POMIS does not allow NRIs to make investment.
— Minimum age requirement is 10 years. Any individual of more than 10 years of age can open this MIS savings account in their name and operate it.
— For individuals below 10 years of age (minors), parents can open an account in their name.
Any individual can open any number of mis accounts in post offices. However the maximum limit after adding balances in different accounts still remains the same.

Compare All Post Office Schemes

Individuals must compare all post office saving schemes as per the Post Office Interest Rates Table 2019, Lock In Period (Maturity), Minimum / maximum investment, account opening and maintaining balance and risk factor involved through the table below:-
NSC vs PPF vs KVP vs SCSS vs RD vs TD vs SSY vs MIS vs PO Savings Account

Post Office SchemesPO Interest Rate 2019Lock-In / Maturity PeriodMinimum / Maximum Investment
National Saving Certificate (NSC)7.9% compounded annually but payable at maturity.5 YearsMinimum amount is Rs. 100 and No Maximum limit
Public Provident Fund (PPF)7.9% compounded yearly15 YearsMinimum amount is Rs. 500 and Maximum amount is Rs. 1.5 lakh
Kisan Vikas Patra (KVP)7.6% compounded yearly9 Years 10 MonthsMinimum amount is Rs. 1000 and No Maximum limit
Senior Citizen Saving Scheme (SCSS)8.6% p.a from 31 March / 30 Sept / 31 December5 YearsMinimum Deposit is Rs. 1000 and Maximum Rs. 15 lakh
Recurring Deposit (RD)7.2% p.a compounded quarterly5 YearsMinimum Rs. 10 per month and Maximum no limit
Time Deposit Account (TD)6.9% to 7.7% p.a calculated quarterly1 to 5 YearsMinimum Rs. 200 and no Maximum Limit
Sukanya Samriddhi Yojana (SSY)8.4% p.a compounded annuallyTill 21 yearsMinimum Rs. 250 and Maximum Rs. 1.5 lakh
Post Office Monthly Income Scheme (MIS)7.6% per year payable monthly5 yearsMinimum Rs. 1500 and Maximum Rs. 4.5 lakh
Post Office Savings Account4% p.aNo Lock In PeriodMinimum Balance Rs. 50 (non-cheque) and Rs. 500 (cheque) and Maximum Rs. 1 lakh

Monthly Income Scheme (MIS) Interest Rate 2019 is almost similar to the Interest of KVP, NSC, RD and TD for the same duration. But MIS is the only scheme which provides interest withdrawal facility after every month. This is a long term regular income plan without any risk involved. People can also make mis login at website of Post Office MIS Account Check Online.

MIS Nomination Facility

All the eligible subscribers can open multiple accounts in any post office as well as joint mis accounts. Any individual can open this type of account in name of a minor below 10 years or for themselves. Nomination Facility is available at the time of account opening and even after opening mis account. People can select a nominee at any time they wish before maturity.

MIS savings account facilitate subscriber to operate more than 1 accounts in individual capacity or jointly. After 10 years, minor must convert MIS account in his name. The maximum limit on the deposits made by an individual still holds. People can convert their single account to joint account and vice versa.

Post Office Monthly Income Scheme 2019 – Highlights

The important features and highlights of mis savings scheme are as follows:-

MIS Interest Rate 2019Minimum / Maximum Investment & Retaining Balance
Mis Interest Rate is 7.6% p.a payable monthly (w.e.f 1 Oct 2019)
  1. Minimum account opening balance is Rs. 1500. Afterwards, deposits are to be made in multiples of Rs. 1500
  2. Maximum investment is Rs. 4.50 lakh in single account and Rs. 9 lakh in Joint Account
  3. Any person can have maximum share of Rs. 4.5 lakh even in the case of joint accounts
  4. To calculate share of each individual in joint account, each joint holder must have equal share.
Salient Features
  • Any individual can open an mis account.
  • MIS Account opening procedure involves payment through cash / cheque.
  • MIS Account holders can avail the facility of nomination at the time of opening and also after opening the account.
  • Subscribers can transfer their account from 1 post office to another.
  • Any individual can open any number of accounts in any post office. However, the maximum investment must not be greater than Rs. 4.5 lakh.
  • Parents can open Monthly Income Scheme Account in the name of a minor below 10 years of age. Minors above 10 years of age can open an account in their own name and operate it also.
  • 2 or 3 individuals can also open a joint account.
  • Each account holder must have an equal share.
  • Any person can convert their single account to joint account and vice versa.
  • Minor must apply for conversion of account in his own name after attaining 10 years of age.
  • MIS Account Maturity Period / Inter Locking Period is 5 years (w.e.f 1 December 2011)
  • People can make interest withdrawal into their savings account at same post office through PDCs / ECs. For CBS Post Offices, people can get interest auto credited in savings account at any CBS Post office.
  • People can withdraw their principal amount between 1 year to 3 years with 2% deduction / discount and between 3 to 5 years with 1% deduction. After 5 years (maturity) subscribers can withdraw their entire money.
  • All the accounts opened between 8 December 2007 and 30 November 2011 will get 5% bonus while accounts opened after 1 December 2011 will not any bonus.
  • Principal Amount in MIS is completely secure. No TDS is applicable under s/c 80C. However the interest earned is entirely taxable.

For more details about the scheme, please visit the official website


— To download application form in pdf format of all post office savings scheme, please click the link:-
Post Office Schemes Application Form Download

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  2. Features & Benefits of Post office Monthly Income Scheme

    Protection of Capital – your money is safe till the maturity because it is a Government-backed scheme.
    Lock-in Period – the lock-in period or tenor for Post office MIS scheme is 5 years. You can withdraw the invested amount. If you want you can reinvest it too.
    Low-risk investment option – it is a fixed income scheme, so the money you invested is not subject to market risk.
    Start investing small amount – you can start your initial investment with just Rs. 1, 500 or as per your affordability.
    Guaranteed Returns – there is a guaranteed return on your investment for the whole duration. Although this return can’t beat the inflation, but it is higher as compared to Fixed Deposit.
    Tax-efficiency – although Post Office Monthly Scheme (POMIS) doesn’t fall under section 80C, so it is subject to taxation. But it has no TDS.
    Eligibility – Only resident Indian can open this account.
    Multiple Accounts – You can open multiple accounts in your name. But the total deposit amount should not exceed to the Rs. 4.5 Lakh together.
    Joint Account – you can open POMIS joint account with 2 or 3 people. Irrespective who is contributing how much money, equal amount belong to all account holders.


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