Post Office Monthly Income Scheme

by Manshu on December 13, 2010

in Investments

Post Office Letter Boxes, EC1A 1AA .London Chief Office 1994photo © 2008 Felix O | more info (via: Wylio)

Couple of weeks ago, I wrote about Monthly Income Plans or MIPs, and this week I’m going to write about a similar monthly income scheme from the Indian post office called the Post Office Monthly Income scheme.

This is a fixed income scheme which provides you a guaranteed return on your investment, and is meant for people who are looking for a monthly source of income without taking any risk at all.

Where the mutual fund MIP invests a part of its assets in equity, and even gold in some cases – and may sometimes even get you a higher than 10% return (with commensurate risk of course) this scheme has a fixed rate of return and is meant for people looking for an ultra safe investment.

Here are some features of this scheme.

Post Office MIS Interest Rate

This is a scheme from the Indian postal service that earns you an interest of 8% per annum, and generates a monthly income for you.

So if you invest Rs. 100,000 in it – your annual interest at 8% will be Rs. 8,000, and you will get Rs. 666.67 monthly.

Post Office MIS Tenure

The maturity period of the scheme is 6 years, at the end of which you will get your money back. You cannot redeem your money within a year, but you can redeem it after that upon paying a penalty.

Here is how that works.

Less than 1 year: MIS can’t be encashed.

1 – 3 years: You are penalized 2% of deposit.

After 3 years: You are penalized 1% of your deposit.

5% Bonus

If you retain your Post Office MIS till maturity (6 years) – at the end of the time period you will be given a 5% bonus on your deposit.

Minimum and Maximum Investment

The minimum sum you can invest is Rs. 1,500, and you can go up to Rs. 450,000 in case of a single account, and Rs. 900,000 in case of a joint account.

Tax on Post Office MIS

There is no TDS on the Post Office MIS, but the interest income is taxable in your hands. The interest income from post office MIS used to be tax free under section 80L, but that section has been withdrawn from April 1 2005.

Interest can be automatically credited to your bank

At the time of opening the scheme you can give in your bank account details, and interest will be automatically credited to your bank every month.

Transfer from one post office to another

There is a provision that allows you to transfer your money from one post office to another. So, if you opened your account in one post office, and moved to another place you can fill up a transfer form with them, and move your scheme to another post office.


This scheme is meant for people who are looking for an ultra safe investment and a regular source of monthly income on top of it. A lot of retired people will fall under this category, and if you fall under that category then you need to evaluate other options like the Senior Citizens Savings Scheme before you invest in this scheme. I”ll cover that scheme in the days to come, and if you have any questions about this particular scheme or any other observations please leave a comment.

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{ 226 comments… read them below or add one }

Srithar Madhavan, Bangalore October 29, 2012 at 11:31 AM

I want to take Small Saving Agency in karnataka., what is the procedure. kindly send me mail please.


Shiv Kukreja October 29, 2012 at 8:35 PM

Hi Srithar… You need to contact the Post Office for the exact procedure.


mukesh December 15, 2012 at 6:22 PM

i want invest 3-4 lakh in safe jone investment like MIS inpost office,kindly guide me by mail whre is invest.


M S Akhter August 1, 2014 at 2:42 PM

I have invested rs 900,000 on mis joint account on 11 Jan 2011, Is max limit of rs 900,000/- on 11 Jan 2011 is cirrect.


Shiv Kukreja August 2, 2014 at 2:50 PM

Yes, Rs. 9 lakh is the maximum investment limit in PO MIS in a joint name.


rahul January 10, 2013 at 11:56 AM

thankyou ….. great help

jus a little confusion ..
“Tax on Post Office MIS

There is no TDS on the Post Office MIS, but the interest income is taxable in your hands. The interest income from post office MIS used to be tax free under section 80L, but that section has been withdrawn from April 1 2005.”
so this means there is no further tax reduction on 666 pm since 2005 ??


Shiv Kukreja January 10, 2013 at 8:36 PM

Hi Rahul… It is an old article. The current interest rate on POMIS is 8.5% per annum payable monthly, there is no TDS but it is fully taxable i.e. you will have to add the interest earned in your taxabale income.


rahul January 11, 2013 at 12:04 AM



Muskan January 25, 2013 at 4:03 PM

If I want to invest (4.5L) in the name of a minor (3 years), is this a better option and what is the tax implication as I;m a housewife and received this money from sale of an ancestor property?


sourabh chhabra March 6, 2013 at 5:11 PM

What if one of joint account holders of MIS dies?Should joint account still be continued?


Manshu March 6, 2013 at 5:21 PM

Please transfer the account in your name in such a case.


sourabh chhabra March 6, 2013 at 6:19 PM

Thanks Manshu,but considering limit of 4.5 lacs for each sharer,Are u sure it’s possible to get full control of 9.0 lacs in Mis joint acct of 2 people?Any references would be highly appreciated.


Manshu March 7, 2013 at 6:24 PM

Sourabh – I’m sorry I didn’t realize you were also referring to the 9 lakh limit. That is a good point and I guess why else would you be interested in the question if you weren’t near the limit.

You shouldn’t get control of the full 9 lakhs and you will have to give them a death certificate immediately so they can tell you how to proceed. I’m sorry about my earlier comment. I made a mistake in fully understanding your question.


Shiv Kukreja March 7, 2013 at 6:56 PM

Hi Sourabh and Hi Manshu… I want to add this info here – “If one of the depositors/joint holders of a Post Office MIS account dies, the account will have to be converted into a single account in the name of the surviving depositor from the date of death of the said depositor when a report to this effect is received in the post office. The Post Master/Senior Post Master will ask the surviving depositor to withdraw the excess amount, in excess of the limit prescribed for single depositor (Rs. 4.5 lakhs at present), as this amount will not carry interest from the date of death of the joint depositor. The interest already paid on this excess amount will be recovered or adjusted.”


Himanshu Agarwal March 30, 2013 at 12:14 PM

Dear Shiv,

In this case, if the penalty (1% or 2 % depending on the time period) will be applicable while withdrawing the excess amount. Also what will happen to the 5% bonus.



Shiv Kukreja March 31, 2013 at 12:04 AM

Dear Himanshu,

No penalty is applicable in case of death of the depositor/joint holder in Post Office Monthly Income Scheme (POMIS). Also, as per the Manual of Post Office, “The MIS Rules clearly provide for payment of bonus where admissible on completion of maturity period of the account irrespective of the fact as to whether the account holder is/was alive or not on the date of maturity”. So, it looks to me that the bonus of 5% will be paid in full on the original deposit of Rs. 9 lakhs on maturity i.e. Rs. 45,000 (5% of Rs. 9,00,000).


Himanshu Agarwal April 1, 2013 at 10:28 AM

Dear Shiv,

Thanks for the reply. Still confused regarding the bonus. Why the Post office will pay bonus for full Rs 9 lakhs while Rs 4.5 lakhs are already withdrawn before maturity as a excess deposit money after the death of joint holder.

If there is any issue in keeping the deposit as it is and no excess deposit is withdrawn. After maturity the deposit amount can be taken on the name of the surviving depositor.



Shiv Kukreja April 1, 2013 at 11:29 AM

Dear Himanshu,

I dont know the precise logic behing them paying 5% bonus even after the withdrawal of the excess amount but the language of the Post Office Manual is there for everybody to refer. As per the Manual, the bonus is payable on maturity even if the account holder is not alive.

I have not faced any such case with any of my clients, but I think one can confirm it with the Post Master/Senior Post Master, if required. This is probably some kind of “Bullet Payment” provision which is there with the PO MIS.


Himanshu Agarwal April 1, 2013 at 12:00 PM

Thanks Shiv,

Please suggest –

If there is any issue in keeping the deposit as it is and no excess deposit is withdrawn. After maturity the deposit amount can be taken on the name of the surviving depositor.



Shiv Kukreja April 1, 2013 at 12:12 PM

No interest will be paid on the excess amount from the date of death of the joint depositor. The interest already paid on this excess amount will also be recovered or adjusted.


Manpreet December 8, 2014 at 4:16 PM


My brother has a similar case that is being discussed here.
Could you give a link that provides this rule? I mean where can I find this manual ? I need to quote this “on completion of maturity period of the account irrespective of the fact as to whether the account holder is/was alive or not on the date of maturity”



Amar R Choudhari March 22, 2013 at 12:01 AM

what should be the minimum age of a person for investing amount in post office MIS.


Shiv Kukreja March 25, 2013 at 2:48 PM

Ten Years; a minor of 10 years and above age can open a Post Office MIS account.


Ruchi April 27, 2013 at 9:19 AM

What is the process of transfer of a joint account ?

I have an account with my father but now we are both moving to different cities.. can I get this account transferred to my city without requiring his presence. ??


gulam patkary May 16, 2013 at 10:34 PM

who is doing this trading i want to talk to dat guy


Sujatha D'silva May 24, 2013 at 3:07 PM

I have invested Rs. 6000/- in MIS last month and have received Rs. 42/- as interest and got the interest amount auto-credited to my Savings Account. Thanks for the provision of auto-credit, it’s a great help. In case I want to invest more amount in MIS as and when any amount is availble with me in future, it seems I have to open a separate Account instead of adding the new amount to my alrwady existing MIS Accounts. It is very uncomfortable as the accounts are going to be splitted up and I will have to maintain a number of Accounts till I complete the amount of 4.5 lakhs. Instead of having No. of Accounts, the MIS Account for one single person should be only one, whenever any person is investing in this Scheme at different times the short amounts should be added to the original MIS Account and interest calculated accordingly. This will help the customer in maintaining only one Single Account than a number of Accounts. – Suggestion Please.


Manshu May 24, 2013 at 9:20 PM

To the best of my knowledge, this is the situation as it stands today, and there’s nothing that can be done about it right now.


Shiv Kukreja May 25, 2013 at 11:31 AM

Hi Sujatha… One suggestion would be to open a Post Office Recurring Deposit account in which rate of interest is similar at 8.30% p.a., but the only thing is it does not pay interest on a monthly basis.


M S Akhter August 1, 2014 at 2:59 PM

what is the proceedure for auto credit of my monthly intrest in the saving bank account


Shiv Kukreja August 2, 2014 at 2:53 PM

You need to get a savings account opened with the post office and you can get the monthly interest transferred into that account. Cheque book facility is also there with the post office.


Arun July 15, 2013 at 11:16 PM

I have an mis a/c of Rs. 450000. I also want to invest Rs. 900000 tripple joint in mis is it possible


Shiv Kukreja July 25, 2013 at 12:28 PM

Hi Arun,
A single Post Office MIS account can be opened for a maximum of Rs. 4.5 lakhs and a joint account by two or three adults can be opened for a maximu of Rs. 9 lakhs.

Three persons can open three single accounts for Rs. 4.5 lakhs each totalling to Rs. 13.5 lakhs. These three persons can invest Rs. 13.5 lakhs jointly in three joint accounts of 4.5 lakhs each or by opening two accounts, one for Rs. 9 lakhs and other for Rs. 4.5 lakhs in order to complete the share Rs. 4.5 lakhs of each adult.

Similarly, a guardian can open a separate account on behalf of each minor for Rs. 4.5 lakhs.


Raka Ghosh July 24, 2013 at 10:08 AM

I have a post office mis jointly with my husband. I am the second holder. Can I add the interest to my source of income rather than his?


Shiv Kukreja July 25, 2013 at 2:04 PM

Hi Mrs. Ghosh,
I’m not 100% sure about it, but I think the interest income is taxable in the proportion of your respective contributions while doing this investment. If the whole of the contribution is made by the first holder, then it will be added to the income of the first holder. So, you can show the interest income as your income, if the whole of the investment was made by your source of funds.


sanket patel July 24, 2013 at 7:16 PM

What is the charges on maturity of MIS if mode of payment is by cheque.?


Shiv Kukreja July 25, 2013 at 2:07 PM

Hi Sanket,
I dont think there are any charges.


sapanpreet November 16, 2013 at 10:02 PM

sir mai naya hu post office mei 10 lakhs post office me invest karne ki sochi hai abhi mai 20 yrs ka hu or mere dad expired ho gaye the 10 yrs phele ab mai or meri mummy rehte hai meri mummy ki age 55 yrs hai sir mai monthly income chahta hu atleast 10.000 per month please yeh possible hai post office mai or kasie please guide me


birendra December 6, 2013 at 1:22 PM

Can MIS in P.O. open for Rs.900000 .00 again in joint a/c , if it is opereted previously for the same amount in jpint name


RAJAN SHAH January 22, 2014 at 8:32 PM


at present what is the maturity period for this scheme & what is the rate of interest?
I heard that there is no bonus for the amount invested. Is that true?


Shiv Kukreja January 22, 2014 at 11:33 PM

Hi Rajan,
Maturity period of Post Office MIS is 5 years at present and it carries 8.40% p.a. rate of interest. Also, it is true that bonus is not payable on MIS anymore.


Shiv Kukreja January 22, 2014 at 11:54 PM
Pramod Hadap February 6, 2014 at 1:17 PM

I have deposited some amount in Post Office MIS in Joint ‘B’ holder with my spouse name. I have also a S.B. Account in the same Post Office standing single holder by name. Now the monthly interest can be drawn through auto credit in to saving account standing my single name at same post office?


Shiv Kukreja February 20, 2014 at 12:20 PM

Hi Pramod,

Though I am not 100% sure about it, but I think you need to have a joint savings account for the same.


kan S February 17, 2014 at 10:07 PM

A depositor has 3 MIS a/c. One opened during nov.2008 and other 2 opened during june 2010. The depositor has deceased. All have nominations.
1. Can the nominee keep the deposits until maturity to avail bonus ?
2. If yes, whether to intimate PO alongwith death certificate and transfer it in nominee’s name ?
3. Since, no penalty for claim before maturity, will the PO force us to withdraw and what will happen to bonus ?

Pl clarify on the above sir,


Shiv Kukreja February 20, 2014 at 12:43 PM

Hi Kan S,

As per the Post Office rules, in the event of death of the depositor, the MIS account will have to be closed and the deposit will get paid to the nominee along with the interest due.


Kumar February 20, 2014 at 6:37 AM

Hi, After 5 years the total sum will be depostited back to the savings account (or) if desired it can kept for further in MIS scheme. If yes how many years it can be kept in MIS.


Shiv Kukreja February 20, 2014 at 12:50 PM

Hi Kumar,

With Post Office MIS, if you do not withdraw your deposit on maturity, then simple post office savings bank interest gets paid for a maximum period of 2 years from the date of maturity.


J Chaturvedi February 22, 2014 at 11:49 PM

For the latest information go to:


S P SINGH March 21, 2014 at 5:50 PM

Sir , I want to know that , Is it possible to take loan either from my deposited MIS amount ( 9 lakh ) or from post office as loan ?


Shiv Kukreja March 21, 2014 at 8:52 PM

Loan facility is not available against Post Office MIS deposit. Also, post offices don’t provide any kind of loan. You can have loan against PPF though, if you have PPF account.


siddharth saini April 4, 2014 at 12:33 PM

i have invested Rs.210000 in MIS in January 2010, now i want to withdraw the same MIS.
Please tell me the procedure and deductions.

thanking you


Abhinay April 28, 2014 at 6:33 PM

I have deposited Rs. 4,50,000 in minor son’s name in post office MIS. Can I get the monthly interest deposited in the savings bank of SBI or ICICI Bank as I am not in a position to go to post office monthly to withdraw the money. Please advise.


Shiv Kukreja April 30, 2014 at 10:01 PM

Hi Abhinay,
I don’t think it is possible. You can open a new post office savings account and get the monthly interest transferred to it. For a minor’s account, age of the child should be 10 years plus.


abhishek June 2, 2014 at 12:15 AM

I want to open an mis of rupees 4lac what is rate of interest now.pls kindly inform me


Shiv Kukreja June 2, 2014 at 10:15 PM

Hi Abhishek,
It is 8.40% p.a. payable monthly.


JC August 13, 2014 at 10:01 PM

Roughly it is Rs.700 per month for every lakh.


sourav June 15, 2014 at 10:39 AM

Can I open two accounts in two different post office to the amount of rs 4.5 lakhs in a single holder.
Please guide.



JC October 4, 2014 at 1:35 PM

No. Would be illegal.


JC October 4, 2014 at 1:49 PM

PL ignore the above comment.


Pooja June 15, 2014 at 4:09 PM

Hi, could you pls give me an eg. of tds amount that will get deduct from the monthly interest ? if i wish to put suppose Rs.10000 in POMIS than could you pls help me in calculating the interest i will get excluding te tax?


Biswajit July 7, 2014 at 4:57 PM

My name is Biswajit from west Bengal well there is an urgent requirement of money due to my sister marriage next week . I am into MIS since 4 months . Is there any way out to withdraw the mis or take a loan against my deposit of 150000. Please help me guys its very urgent .


shivi July 11, 2014 at 9:53 PM

what to do in case of MIS post matured.i mean how to calculate interest in that case?


Rupesh S Mahadik July 14, 2014 at 1:06 PM

In case of MIS interest is paid monthly, so at the end i.e on Maturity you will be getting your principal invested amount back with bonus if applicable at that time, becuase since the last 1-2 years bonus have been cancelled.


vivek July 26, 2014 at 7:30 PM

i just wanted to clarify one thing if i will deposit 1000000 laks for 5 year so i will get 8.5% interest per month after 5 year once my maturity will finish how much bonus should i receive


Shiv Kukreja July 28, 2014 at 9:22 PM

Hi Vivek,
Bonus has been discontinued by the government in Post Office MIS w.e.f. 1st December, 2011. So, you’ll not get any bonus now.


J.vaijayanthi August 7, 2014 at 6:04 PM

I invested on 19-6-2008, a sum of Rs.3 lakhs in Indian post office MIS scheme and the monthly interest is automatically credited into RD. How much I will get at the end including bonus etc. I did not take any loan/ withdrawal in the middle and continued the whole tenure of 6 years as well as in MIS and RD


Shiv Kukreja August 12, 2014 at 6:57 PM

You need to contact the post office guys to get the details of maturity proceeds.


Mrs. Leela R Patil August 20, 2014 at 1:28 PM

Sir I deposited Rs. 4.5 lakhs(sole holder) in post office MIS scheme in Nov.2010. one year later I deposited another 4.5 lakhs (with my son as joint holder. Both were done through the same agent. Now the post office(Vasco) says the entire 9 lakhs had to be joint holding. They say they will recover the interest paid to me in the second account(joint holding i.e interest on 2.25 lakhs). Kindly advise. Thank you


Shiv Kukreja August 21, 2014 at 11:14 AM

Hi Mrs. Leela,
With Post Office MIS, you can deposit a maximum of Rs. 4.5 lakh in a single name and Rs. 9 lakh in joint names. In your case, it is more than Rs. 4.5 lakh in a single name, so the post office is right in recovering the extra interest paid to you.


Sunil Kumar September 7, 2014 at 5:28 PM

Dear Sir,

I am looking for compound interest plan, is there any plan as such in which I can earn near to 1 Cr Rs at the end of my 55 I am 24 now.



JC September 10, 2014 at 7:43 PM

Try recurrent deposit of Rs.5000.00 per month at 9% interest for 31 years. Would give you Rs.100,74,937.18 .


Sunil Kumar September 15, 2014 at 6:17 PM

May I know which bank is offering this?


JC October 4, 2014 at 1:32 PM

1)You can open a PPF account and deposit Rs.5500.00 per month.
2)Interest would be tax free.
3)80c benefit in IT.
4)After 15 yrs,extend in batches of 5 yrs.
5)Rate of interest may vary year to year.

Year Rate Interest Scheduled Deposits Balance

1 8.70% 2,696.40 66,000.00 68,696.40
2 8.70% 8,917.16 66,000.00 1,43,613.56
3 8.70% 15,701.23 66,000.00 2,25,314.79
4 8.70% 23,099.63 66,000.00 3,14,414.42
5 8.70% 31,167.99 66,000.00 4,11,582.42
6 8.70% 39,966.98 66,000.00 5,17,549.39
7 8.70% 49,562.75 66,000.00 6,33,112.14
8 8.70% 60,027.46 66,000.00 7,59,139.60
9 8.70% 71,439.79 66,000.00 8,96,579.39
10 8.70% 83,885.56 66,000.00 10,46,464.95
11 8.70% 97,458.35 66,000.00 12,09,923.29
12 8.70% 1,12,260.21 66,000.00 13,88,183.51
13 8.70% 1,28,402.45 66,000.00 15,82,585.96
14 8.70% 1,46,006.44 66,000.00 17,94,592.39
15 8.70% 1,65,204.54 66,000.00 20,25,796.93
16 8.70% 1,86,141.12 66,000.00 22,77,938.05
17 8.70% 2,08,973.59 66,000.00 25,52,911.64
18 8.70% 2,33,873.64 66,000.00 28,52,785.28
19 8.70% 2,61,028.51 66,000.00 31,79,813.79
20 8.70% 2,90,642.36 66,000.00 35,36,456.15
21 8.70% 3,22,937.87 66,000.00 39,25,394.02
22 8.70% 3,58,157.89 66,000.00 43,49,551.91
23 8.70% 3,96,567.23 66,000.00 48,12,119.13
24 8.70% 4,38,454.70 66,000.00 53,16,573.83
25 8.70% 4,84,135.27 66,000.00 58,66,709.10
26 8.70% 5,33,952.40 66,000.00 64,66,661.50
27 8.70% 5,88,280.70 66,000.00 71,20,942.21
28 8.70% 6,47,528.66 66,000.00 78,34,470.87
29 8.70% 7,12,141.78 66,000.00 86,12,612.65
30 8.70% 7,82,605.90 66,000.00 94,61,218.56
31 8.70% 8,59,450.86 66,000.00 103,86,669.42


pd September 11, 2014 at 3:59 PM

hey i have this mis scheme.and i have this account from it is illegible for the bonus.i want to know if i withdraw some amount from this account i m still illegible for the bonus at the six year maturity date??or bonus is cancelled out because of the withdrawal off that amount????


Shiv Kukreja September 15, 2014 at 11:26 AM

Premature withdrawal is not permitted in Post Office MIS account. However, you can get it closed prematurely. There are penalty provisions in case of premature closure, so you should not expect any bonus in case you decide to close it before maturity.


imran khan September 13, 2014 at 2:19 PM

I have to deposit a Cheque of MIS after maturity into my accoutn but it was lost and time period of three months validity of cheques also passed now what should i do to re issue my cheque from post office so that i can now deposit it within time .. please send me reply in my email


Shiv Kukreja September 15, 2014 at 11:30 AM

You should approach the post office and request them to reissue the maturity cheque to you.


Anjana Ka September 21, 2014 at 5:10 PM

I have my Mis with full limit have 2 daughters one of 15 & other of 5year can I deposit 4.5 lakhs separate by opening their mis.pls tell for both


JC September 30, 2014 at 2:42 AM

Account can be opened in the name of a minor. Minor of 10 years and above age can open and operate the account. So yes for the elder daughter,but no for the younger one.
Pl refer to


Radhey Mohan September 25, 2014 at 10:43 AM

Dear Sir,
I would like to know whether both Joint Holders of MIS Account (Total Rs. 900000) should have the same address or they can have different address.

Thanks & Regards,
Radhey MOhan


anshika November 7, 2014 at 7:37 AM

Dear sir
If I deposit rs.10000 in this scheme so how much amount of interest should I get per month.


JC November 11, 2014 at 12:19 AM

Deposit should be in multiple of Rs.1500.00. Therefore for Rs.10500.00, monthly payout would be Rs.74.00.


ghanshyam singh November 7, 2014 at 7:32 PM

My father having a MIS of Rs. 3 lakhs, for which I am nominee.
above MIS will mature on June 2016.
But my father expired on 25 the September 2014.
please suggest me what to do.


JC November 11, 2014 at 12:13 AM

The account stops after death. You can claim the amount of Rs.300000.00 in the prescribed form alongwith death certificate.
Form is available at:
Change Savings to MIS in the heading.


subhasis chakraborty November 9, 2014 at 12:36 PM

Dear Sir,
my father opened a mis joint account with my mother at post office.
but my father expired on 09th july 2014, therefore i want to nominee
in that accounts so what is the procedure.

thanking u


Amiya Das Gupta November 11, 2014 at 2:20 PM

Dear Sir, I have just opened one PPF A/c March 13 onwards in my name. I am Investing 8000/-pm Please suggest for my future retirement. After completion can I Invest all the maturity amount through Post office MIS. How much I can get per month.


amit Patel November 21, 2014 at 8:24 AM

Dear Sir,
I have 2 uncle both are unmarried but my one uncle was no more and he had invest amount 4,00,000/- in mis in post
they have joint account in this with his friend ,now his friend want to withdraw amount and want to cheat with us
>> I kindly request you to give suggestion how we stop him ??
>>Is their any rule in post to block amount if one of joint holder was died ??
>> is required Genealogy ??


Shiv Kukreja December 24, 2014 at 12:26 AM

Hi Amit,
In this case, the nominee or your uncle’s legal heir should visit the post office and claim your uncle’s money. You can ask for the precise procedure at the post office.


ravi singh rathore December 19, 2014 at 3:31 PM

my grandfather opened a mis account in the year 2010.
So on maturity the amount is eligible for bonus of 5%? As since 2012 no bonus will be provided under this scheme.As my grandpa had opened an account in 2010 so i want tob know whether he will get bonus of 5% as no bonus provision came in 2012.pls rply its urgent.


Shiv Kukreja December 24, 2014 at 12:27 AM

Hi Ravi,
Your grandfather will get the 5% bonus.


abc December 23, 2014 at 11:43 AM

what is the taxability of Bonus received in post MIS scheme.


abc December 23, 2014 at 11:49 AM

it is taxable under the head income from other source.


snehal January 27, 2015 at 8:25 AM

I am a joint holder of mis with my mother. Can she alone withdraw the mis on maturity or my presence is requried


Shiv Kukreja January 29, 2015 at 12:05 PM

You would be required to sign the withdrawal form. You physical presence is not required.


gpatra February 9, 2015 at 1:46 PM

1. Can the joint MIS account( with three names) be transferred to other post office, if second named a/c holder( having the Pss Book with him) apply for the transfer or Whether the signatures of all 3 a/c holders are must ?
2. Can the monthly interest withdrawal from joint MIS account be stopped or the account be freezed as per the prayer of one of the joint a/c holder for not receiving the share of his monthly interest ?


Shiv Kukreja February 12, 2015 at 8:36 PM

Sorry, you need to contact the post office in your area for your queries.


ashoke mukhopadhyay February 15, 2015 at 8:51 AM

i am a retired person &having a m.i.s since 2010 in a post-office(kolkata writers building)&getting mis interest regularly in my bank account through ecs but suddenly post office has stopped such transfer of interest to my bank account without any intimation to me.
After quary to the post office they informed that govt has withdrawn such ecs facility &i have to open a saving account in this branch to get the monly interest.
plese inform me what i will do now since i deposit the fund in post office mis since they are having an ecs facility during opening my mis account &now i have no other alternative to premature closure of my mis saving with penalty&without bonus.
it is evident from central govt above action that they are not in a favour of small scale saving in practice.


dipti February 25, 2015 at 4:02 PM

Iam getting the MIS int regularly in uninted bank of India,may I get the matured amount with bonus in the same bank directly on request


dipti February 25, 2015 at 4:06 PM

I am getting MIS int in ubi ,may Iget the matured amount in the same bank on request


avinash March 9, 2015 at 11:32 PM

I want to invest 2000 rs per month what should I do….pls pls help me


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