Post Office Monthly Income Scheme: Tips to maxmise your retruns in 5 years | MIS interest rate 2022, calculator

Post Office Monthly Income Plan Interest Rate 2022, Calculator: Post Office Monthly Income Plan (POMIS) has, over the years, become the most preferred investment plan for people of all ages. The trust government scheme guarantees a fixed monthly income to the account holders. The monthly interest is paid every month as income to the subscriber’s savings bank account.

It is one of the most popular schemes not only because it guarantees monthly income to the scheme subscribers but also the invested amount is kept safe in an insured government scheme without any risk to the principal amount. The principal amount is returned to the subscriber after the maturity of the scheme in five years.

Tips to double your money in 5 years

Interest credited to an adult’s savings account can be used to maximize overall returns by starting a Recurring Deposit (RD) with equal monthly payments from the Monthly Income Scheme. The post office offers good returns on opening a recurring deposit account with them. 5.8% of interested parties are quarterly composed of a RD year. This means that with the investment amount of Rs 4.5 lakh, an investor will earn not only interest from the MIS scheme but also from the RD at the maturity of the scheme.

Correus monthly income plan calculator

A total of Rs 2,475 is credited to the investor’s account every month for a principal amount of Rs 4,50,000 at 6.6%. At the same interest rate, an investor can get Rs 4,922 for a total investment of Rs 9,00,000 in a joint account.


A person willing to start the monthly income plan can start investment with a maximum deposit of Rs. 4.50 lakh in a single account. The plan can also be opened in a joint account with an investment of Rs 9 lakh. Interest is paid at the end of one month from the date of opening and so on until maturity. A person can withdraw interest from their savings account. However, it should be noted that if the account holder does not claim the interest payable each month, this interest will not generate any additional interest.

The account can be opened by any single adult, a guardian on behalf of a minor and a minor under 10 years of age on their own behalf.

The account can be closed on the expiry of 5 years from the date of opening by sending the application form with the registration book to the relevant Post Office. In case the account holder dies before maturity, the account can be closed and the amount will be refunded to the legal/nominee heirs. The interest will be paid until the previous month, in which the return is made.

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