Post Office MIS interest rate 2021- Hello Friends, if you are searching for any beneficial scheme to invest money to get the best interest, then you have to invest in Post Office Monthly Income Scheme (MIS). Today I am going to share with you full information about the Post Office MIS scheme and Post Office MIS interest rate from 01.04.2021 to 30.06.2021 (Post office MIS interest rate 2021) in detail. Just read it up to the end.

Post Office MIS interest Rate 2020


What is Post Office Monthly Income Scheme 2021 (PO MIS)

This scheme is known as the MIS scheme. MIS means Monthly Income Scheme. It is a post office saving scheme of the Department of Post (India Post). The main key feature of this small savings scheme is to get a fixed interest amount on monthly basis. It means it works like an FD account. The difference between MIS scheme of Post Office and the Fixed Deposit Scheme is that MIS gives interest on a monthly basis and FD gives us interest on a yearly basis.

Who can open the Post Office MIS Scheme Account?

There are some conditions to open an MIS account in Post office. You can check eligibility for it from the below list.
  • A single adult person can open an MIS account in any post office.
  • Joint Account (up to 3 adults) (Joint A or Joint B)) can also be opened in Post office.
  • Minor MIS account can also be opened in post office.
  • A minor MIS account above 10 years in his own name only.


How much amount can be deposited in Post Office Monthly Income Scheme?

  • Monthly Income Scheme account can be opened with a minimum of Rs. 1000. You can depost the amount in multiple of Rs. 100.
  • A single MIS account is eligible to deposit a maximum of Rs. 4.50 lakh.
  • A Joint MIS account is eligible to deposit a maximum of Rs. 9 lakh.
  • Joint account holders have an equal share in the post office MIS account.
  • MIS account holder is eligible to withdrawn the amount before the expiry of 1 year from the date of deposit.
  • If the Post Office MIS account is closed after one year and before three year, a deduction equal to the 2% from the principal will be deducted and remaining amount will be paid to account holder.
  • If the MIS account is closed after three years and before five years, a deduction equal to 1% from the principal will be deducted and the remaining amount will be paid to the account holder.

Maturity time of an MIS Scheme of Post Office

The PO MIS account Account has a maturity time of  years. This account may be closed by filling and submitting a prescribed application form. You have to submit this duly filled form along with passbook in home branch post office.

If the account holder dies before the maturity time, the Post Office MIS account may be closed. The whole amount will be paid to the nominee with applicable interest amount.

Post Office MIS Interest Rate April 2021 (from 01.04.2021 to 30.06.2021)

(i) Interest shall be payable on completion of a month from the date of opening and so on till maturity.

(ii) If the interest payable every month is not claimed by the account holder such interest shall not earn any additional interest.

(iii) In case any excess deposit made by the depositor, the excess deposit will be refunded back and only PO Savings Account interest will be applicable from the date of opening of account to the date of refund.

(iv) Interest can be drawn through auto credit into savings account standing at same post office, or ECS. In case of MIS account at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post Offices.

(v) Interest is taxable in the hand of depositor.

Post office MIS interest rate 2017, 2018, 2019, and 2020

The interest rate on the MIS account is variable as per government notification. Here I am going to share a list of Post office MIS interest rate in the year of 2017, 2018, 2019 and 2020.

Year                  Rate of Interest on Post Office MIS scheme (annual basis)
1st April 2017 – 30th June 2017                 7.6%
1st July 2017 – 30th September 2017         7.5%
1st October 2017 – 31st December 2017 7.5%
1st January 2018 – 31st March 2018         7.3%
1st April 2018 – 30th June 2018                 7.3%
1st April 2020 – 30th June 2020                 6.60%

Current Post Office MIS interest rate April 2021 (from 01.04.2021 to 30.06.2021)

The interest rates on Post Office Monthly Income Scheme is controlled by the Central Government finance ministry. The Government charges the interest in every quarter on the basis of government bonds.

The current post office MIS interest rate from 01.04.2021 to 30.06.2021 is 6.60%. You can calculate the post office MIS interest rate 2021 with the help of Post office MIS interest rate calculator. Post office MIS interest rate for senior citizen is also same as the above interest rate in 2021.

Why should we invest in Post Office MIS scheme 2021?

There are many people live in India who wants to get a fixed amount on monthly basis. The Post Office Monthly Income Scheme is suitable for those people. People have to deposit one time investment in the MIS scheme and get a regular income on the monthly basis with a fixed interest rate.

So it the best post office savings scheme for Indians. I have also a MIS account in the post office. 

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