POMIS is a five-year investment with a maximum cap of Rs 9 lakh under joint ownership and Rs 4.5 lakh under single ownership. The interest rate is set each quarter and is currently at 7.8 per cent per annum, payable monthly. The investment in POMIS doesn't qualify for any tax benefit and the interest is fully taxable. Post Office Monthly Income Scheme (POMIS) Account. Time Deposit (TD) Account is a Post Office Savings Scheme which provides capital protection for definite time period, post office td interest rate 2018 is 6.6% to 7.4% p.a. Which can be calculated using post office td calculator and post office td calculator 2018 is available online, fill post office td form.
India Post, which has a network of over 1.5 lakh post offices across the country, provides a range of financial services. For the quarter ending June 30, India Post - under the Department of Posts - offers several savings schemes with interest rates ranging from 4 per cent to 8.7 per cent at designated post office branches. One such savings scheme offered by India Post is the Monthly Income Scheme (MIS). Investment in the Monthly Income Scheme fetches interest at the rate of 7.3 per cent for the current quarter, according to India Post's website - indiapost.gov.in.
Here are five things to know about post office monthly income scheme (MIS) account:
1. Interest Rates: The post office MIS account offers an interest rate of 7.7 per cent per annum, which is payable monthly. An MIS account can be opened via payment by cheque or cash. The maturity period of the account is five years, according to the India Post website.
2. Amount: The minimum amount required to set up a monthly income account is Rs. 1,500. The maximum investment limit is Rs. 4.5 lakh in a single account and Rs. 9 lakh in a joint account, according to India Post.
3. Premature withdrawal: The account can be prematurely encashed after one year but before three years at the discount of 2 per cent of the deposit and after three years at the discount of 1 per cent of the deposit. Discount means deduction from the deposit.
4. Number of accounts: MIS account can be transferred from one post office to another. Investors can also open any number of MIS accounts in any post office subject to maximum investment limit by adding balance in all accounts, according to the India Post website.
5. Other facilities: Nomination facility is available at the time of opening and also after opening of MIS account.
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.
Contains Ads
A financial calculator exclusively for the people of India with the schemes available in Indian Banks, Post Office, Mutual Funds, Retirement, Insurance, etc.
This App provides the following calculators for both Mobile Phones and Tablets.
BANK CALCULATORS:
* EMI Calculator (Loan Calculator / Mortgage Calculator)
* Fixed Deposit Calculator (TDR - Interest Payout)
* Fixed Deposit Calculator (STDR - Cumulative)
* Recurring Deposit Calculator (RD)
BANK & POST OFFICE CALCULATORS:
* PPF Calculator (Public Provident Fund)
* Sukanya Samriddhi Account Calculator (SSA)
* Senior Citizens Savings Scheme - SCSS Calculator
* Kisan Vikas Patra - KVP Calculator
POST OFFICE CALCULATORS:
* Monthly Income Scheme Calculator (MIS)
* Recurring Deposit Calculator (RD)
* Time Deposit Calculator (TD)
* National Savings Certificate - NSC Calculator
* Interest Rates (%) of Post Office Schemes
MUTUAL FUNDS CALCULATORS:
* Mutual Funds Information
* ELSS Calculator (Equity Linked Savings Scheme)
* SIP Calculator (Systematic Investment Plan)
* SWP Calculator (Systematic Withdrawal Plan)
RETIREMENT CALCULATORS:
* NPS Calculator (National Pension System)
* EPF Calculator (Employees Provident Fund)
* APS Calculator (Atal Pension Scheme / Atal Pension Yojana)
* PM Shram Yogi Maan-dhan Scheme (PMSYM Calculator)
* PM Vaya Vandhana Scheme (PMVVS Calculator)
* Gratuity Calculator
TAX CALCULATORS:
* Income Tax Calculator
* Capital Gains Tax (CGT) Calculator
INSURANCE CALCULATORS:
* PM Jeevan Jyoti Bima Scheme - PMJJB Calculator
* PM Suraksha Bima Scheme - PMSB Calculator
GENERAL PURPOSE CALCULATORS:
* Simple Interest Calculator
* Compound Interest Calculator
FEATURES:
* FREE
* Works on both Smart Phones and Tablets
* Exclusively for the people of India with Indian finance schemes
* Helps you take informed decisions about your finance
* Indian number format
* Displays the Maturity amount
* Displays 'Total Amount Deposited' and 'Total Interest Earned'
* Displays Yearly and Monthly growth reports
* Sends the reports via E-mail
* Displays visually intuitive graphs
* Contains in-built information about the Schemes details
* No Internet connection is required
PERMISSIONS:
Internet permission is required for Analytics and displaying Ads.
DISCLAIMER:
Kindly consider these calculators as a guidance only. Investors are required to make their own assessment before investing.
This App provides the following calculators for both Mobile Phones and Tablets.
BANK CALCULATORS:
* EMI Calculator (Loan Calculator / Mortgage Calculator)
* Fixed Deposit Calculator (TDR - Interest Payout)
* Fixed Deposit Calculator (STDR - Cumulative)
* Recurring Deposit Calculator (RD)
BANK & POST OFFICE CALCULATORS:
* PPF Calculator (Public Provident Fund)
* Sukanya Samriddhi Account Calculator (SSA)
* Senior Citizens Savings Scheme - SCSS Calculator
* Kisan Vikas Patra - KVP Calculator
POST OFFICE CALCULATORS:
* Monthly Income Scheme Calculator (MIS)
* Recurring Deposit Calculator (RD)
* Time Deposit Calculator (TD)
* National Savings Certificate - NSC Calculator
* Interest Rates (%) of Post Office Schemes
MUTUAL FUNDS CALCULATORS:
* Mutual Funds Information
* ELSS Calculator (Equity Linked Savings Scheme)
* SIP Calculator (Systematic Investment Plan)
* SWP Calculator (Systematic Withdrawal Plan)
RETIREMENT CALCULATORS:
* NPS Calculator (National Pension System)
* EPF Calculator (Employees Provident Fund)
* APS Calculator (Atal Pension Scheme / Atal Pension Yojana)
* PM Shram Yogi Maan-dhan Scheme (PMSYM Calculator)
* PM Vaya Vandhana Scheme (PMVVS Calculator)
* Gratuity Calculator
TAX CALCULATORS:
* Income Tax Calculator
* Capital Gains Tax (CGT) Calculator
INSURANCE CALCULATORS:
* PM Jeevan Jyoti Bima Scheme - PMJJB Calculator
* PM Suraksha Bima Scheme - PMSB Calculator
GENERAL PURPOSE CALCULATORS:
* Simple Interest Calculator
* Compound Interest Calculator
FEATURES:
* FREE
* Works on both Smart Phones and Tablets
* Exclusively for the people of India with Indian finance schemes
* Helps you take informed decisions about your finance
* Indian number format
* Displays the Maturity amount
* Displays 'Total Amount Deposited' and 'Total Interest Earned'
* Displays Yearly and Monthly growth reports
* Sends the reports via E-mail
* Displays visually intuitive graphs
* Contains in-built information about the Schemes details
* No Internet connection is required
PERMISSIONS:
Internet permission is required for Analytics and displaying Ads.
DISCLAIMER:
Kindly consider these calculators as a guidance only. Investors are required to make their own assessment before investing.
Collapse
21,409 total
4
2
Read more