The Post Office Monthly Income Scheme, or PO MIS, is offered by Indian Post Offices. A lump sum amount is deposited with the post office and monthly interest earned each month is paid out to you.
As the scheme is offered by post offices, it is backed by the government. Thus, the PO MIS is one of the Safest Investments available Today.
The Rate of Interest offered on PO MIS is 8% per Annum (Year). Interest is paid out every month but direct credit to your bank account remains a problem as Post Offices are not that technologically advanced in India, as such one needs to go and collect the monthly income from the PO directly. However if you have a savings account in the same post office then interest can be credited directly to your account.
A 5% bonus is paid on maturity of the fund, therefore, the effective yield works out
to 9% per year.
The interest earned is fully Tax Free
Contact :
Rajesh Kesri [ M Com ]
Member LIC DM Club Indore
M 98270 82185
0731 2460416
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Post Office Mis Interest Rate,
Post Office Monthly Income Plan,
Post Office Monthly Saving Scheme,
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