Post Office Monthly Income Scheme (MIS) Calculator
% Interest
📌 MIS Scheme Details
- Interest Rate: 7.4% per annum
- Minimum Deposit: ₹1000 (multiples of ₹1000)
- Maximum Limit: ₹9 lakh (Single), ₹15 lakh (Joint)
- Only one-time deposit allowed
- Tenure: 5 Years
👤 Who Can Open Account
- Resident Indian adult
- Single or Joint (up to 3 adults)
- Minor above 10 years
- Guardian on behalf of minor
⚠️ Important Rules
- No withdrawal before 1 year
- Closure after 1–3 years → 2% penalty
- Closure after 3 years → 1% penalty
- Maturity after 5 years
- Interest paid monthly
📝 Notes
- Account can be opened via Post Office or e-Banking
- Post Office Savings Account required for online facility
- Minor account must be updated after 18 years with KYC
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