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Indian Post Office recently launched Monthly Income Scheme for the citizens

The Indian Post Office (IPO) has currently launched a Monthly Income Scheme (MIS) for the citizens of India. This scheme allows investing an amount of money at a fixed rate of interest, for a fixed time, which would generate a monthly payout as soon as it attains maturity.

The MIS initiative is one of the highest-earning investment instruments offered by the IPO. And since it is backed by the Finance Ministry of India the scheme ensures guaranteed returns and lower risk factors. The main aim of the scheme is to provide monthly guaranteed returns to the investor so that the investor can have a regular source of income after their retirement.

To avail of the scheme, the investor (person who is depositing the amount) has to deposit a lump sum amount in the Post Office. An interest rate of 6.6% will be issued against the money. And after the amount attains maturity, the person can withdraw the amount. So according to the MIS calculator if a person under this scheme invests Rs 50,000 once then the person will earn Rs 3300 as a yearly pension. Put simply, post-retirement the person will receive Rs 275 as a monthly pension. Hence will get a total of Rs 16500 as interest in 5 years even before achieving maturity. Similarly, if one invests Rs 1 lakh or Rs 4.5 lakh at a time then he/she will receive Rs 550 and Rs 2475 monthly respectively.


Key takeaways of the scheme:

  • This scheme requires only a one-time investment and accordingly generates monthly pay-outs after you retire.
  • The current MIS interest rate is 6%.
  • The lock-in period ofMIS is 5 years.
  • Investment can be made in multiples of Rs 100 or Rs 1000
  • 3 investors can open a joint account under this scheme (earlier only 2 people can open a joint a/c)
  • Minimum Rs1000 and maximum Rs 9lakh have to be invested under this scheme.
  • The rate of interest in this scheme is simple interest and not a compound rate of interest.
  • It is tax-free


  1. The investor should be an Indian citizen
  2. The applicant should be above 18 years old.

Documents needed for the scheme:

  1. Identity proof.
  2. Address proof.
  3. A passport size photograph.

How to apply?

One can collect the MIS application form from the nearby Post office or by visiting the official website of the Indian Post Office

About The Indian Iris

Just like an iris controls the light levels inside the eye making it possible for us to see the outside world, The Indian Iris aims at shedding light on the ongoing political affairs, policies and schemes of the Government of India (GOI) and those of the State Governments.


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