Post Office Monthly Income Scheme (POMIS)

Post Office Monthly Income Scheme is a scheme offered by post offices that is paying interest every month at the rate of 8.4% p.a for 2013-14. The additional bonus of 5% payable at maturity has been discontinued from 2012. An individual can open an account singly or jointly with 2-3 others.

Like with other post office schemes, a Pass Book is provided for recording entries in POMIS. Account can be closed prematurely after the 1st year with payment of a penalty fee.

Min & Max Investment

Min- Rs 1500, Max-Rs  4.5 lakhs(single a/c), Rs 9 lakhs(joint a/c)

Rate of Interest

8.40% p.a

Maturity/ Tenure

5 years

Tax Benefit

No tax rebate. TDS does not apply


The service delivery in most post offices in India on the POMIS leaves a lot to be desired. Thus, this instrument has become confined largely to the older generation of retirees who need monthly income, trust nothing else, fall below the tax bracket, and have patience to put up with the service quality.

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