Post Office Monthly Income Scheme Account 6.6% Intrest

Post Office Saving Schemes Monthly Income generate monthly wise. It is one of the higest earning monthly earning scheme with 6.6% Intrest rate. The Intrest rate in this scheme, suggests disbursed monthly. Monthly income scheme like other Post office schemes validates by ministry of Finance.

Post Office Monthly Income Scheme Direct Credit To Bank 6.6%

Post Office Monthly income scheme generates monthly income with capital amount. before investing check out terms and conditions. to get monthly income scheme, you cannot withdraw the amount deposited in such account prior to 5 years. every individual candidate can make a maximum investment of 4.5 Lakh in the scheme. for minor account holders can make maximum limit is 3 lakhs only. The minimum amount which can be invested in 1500 rupees. You can opt to withdraw the monthly intrest amount on your investment through automatic transfer to savings accounts through ECS. to get post office account candidate must have above 18 years age. You can open an account on behalf of minor who is 10 years old or olders. applicant must belongs indian citizenship. it does not apply to non-resident indians. The beneficiary can also be nominated after opening the Post office monthly income scheme in india.

Other Post Office Schemes

Post Office Savings Account(SB)​​​​​
​National Savings Recurring Deposit Account(RD)​​
​National Savings Time Deposit Account(TD)
​National Savings Monthly Income Account(MIS)
​Senior Citizens Savings Scheme Account(SCSS)

What is Full form of POMIS 2022 ?

It just Post Office Monthly Income Scheme. many people confused with name Pradhan mantri Monthly income scheme savings accounts. Pradhan mantri Jan dhan yojana accounts are different.

Required Documents for applying Post Office monthly income scheme 2022

Govenrment issued Aadhar UIDAI card, Nationalized Identity proof
Address proof
Passport size Photographs

Procedure for applying open POMIS Account Online

to open Monthly income scheme account follow below instructions. Firstly candidate must have post office saving account. if not have, open same account in nearest post office. fill application from from nearest post office for online, You can download POMIS Account application form here. fill all details, date of birth, father name, residential address, aadhar card number, bank account details. Submit application form along with self attested copies of all the required documents mentioned above, at the post office. To verification process, you can carry original documents for verification process. Proceed to make initial deposists via cash or cheque mode.

A single account can hold up to Rs 4.5 lakh, while a joint account can hold up to Rs 9 lakh.

Invest 9 Lakh in Joint Account

If you invest Rs 9 lakh in a joint account under the Post Office MIS, then the total interest you earn in a year at the rate of 6.6 per cent will be around Rs 59,400. If that is to be divided by 12, that is the number of months in a year, then your monthly income through Post Office MIS will be Rs 4,950 as per calculations. However, it must be noted that this is applicable in case of joint accounts.

Invest 4.5 Lakhs In Single MIS Account

For single accounts, the interest will amount to Rs 2,475 per month as the deposit gets halved.

Maturity and death process

After 5 years from the date of opening, the account can be closed by submitting a specified application form along with the pass book to the concerned Post Office. If the account holder passes away before the maturity date, the account may be cancelled and the funds refunded to the nominee/legal heirs. Interest will be paid up to the previous month’s end, after which a refund will be sent.

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