Post Office Monthly Income Scheme (POMIS)

iAbout This Scheme

POMIS is a 5-year deposit scheme that provides a fixed monthly income to investors. At the current rate of 7.4% per annum, it is ideal for retired persons and those seeking regular income. The maximum investment limit is ₹9 lakh for individual accounts and ₹15 lakh for joint accounts.

🎁Key Benefits

Monthly interest payout at 7.4% per annum
Maximum deposit ₹9 lakh (individual) and ₹15 lakh (joint)
5-year tenure with maturity principal returned
Premature withdrawal allowed after 1 year with penalty
No TDS deducted on interest
Nomination facility available

✅Eligibility Criteria

1
Any resident Indian adult
2
Joint account (up to 3 adults) allowed

Min Age

18 years

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📝How to Apply

1

Visit Post Office

Visit any post office.

2

Fill Form

Fill POMIS account opening form.

3

Deposit

Deposit minimum ₹1,000 and multiples thereof.

❓Frequently Asked Questions

Is POMIS interest taxable?

Yes, interest is taxable but no TDS is deducted at source.