FD Interest Rates in Post Office Monthly Income Scheme 2023

FD Interest Rates in Post Office Monthly Income Scheme 2023

FD Interest Rates in Post Office Monthly Income Scheme to invest a certain amount and earn a fixed interest every month, you can choose the Post Office Monthly Income Scheme. As the name suggests, you can invest in this from any nearest post office. In this article, we will cover various aspects of this scheme such as like eligibility criteria, fd interest rate, etc.

The Post Office Monthly Income Scheme (POMIS) is a Government of India backed small savings scheme that allows the investor(s) to set aside (save) a specific amount every month. Subsequently, interest is added to this investment at the applicable rate and paid out to the depositor(s) on a monthly basis.

Key Features of Post Office FD Monthly Income Scheme

Following are the key features of Post Office MIS plan:

  • Maturity Period – Effective 1st December 2011, the maturity period of the scheme is 5 years (60 months) from the account opening date
  • Number of Account Holders – POMIS accounts can be held individually or jointly (maximum three adult holders)
  • Minimum and Maximum amount of deposit – The minimum limit for the amount of deposit in Post Office MIS plan is Rs. 1,000 (and thereafter in multiples of 1,000)

FD Interest Rates in Post Office Monthly Income Scheme 2023

PeriodFD Interest Rate on Post Office MIS (annual)
1st April 2023 – 30th June 20237.4%
1st January 2023 – 31st March 20237.1%
1st October 2022 – 31st December 20226.7%
1st July 2022 – 30th September 20226.6%
1st April 2022 – 30th June 20226.6%
1st April 2021 – 31st December 20216.6%
1st April 2018 – 30th June 20187.3%
1st January 2018 – 31st March 20187.3%
1st October 2017 – 31st December 20177.5%
1st July 2017 – 30th September 20177.5%
1st April 2017 – 30th June 20177.6%

Also Read : Which Bank has the Highest Interest Rate for Fixed Deposit in 2024

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