Post Office: If you are married and want a secure and regular source of income, then the Post Office Monthly Income Scheme (POMIS) can prove to be very beneficial for you. This government scheme is specially designed for couples who want to make their financial future stable together after marriage. By investing in it, you can get a fixed amount every month, which can become a big support for your household expenses or other needs.

What is the Post Office Monthly Income Scheme (POMIS)

Post Office Monthly Income Scheme is a savings scheme in which you get a fixed interest amount every month. This scheme is specially designed for those people who want to get a fixed income every month by investing their money in safe investments. The biggest feature of this scheme is that both single and joint accounts can be opened in it. If married couples open a joint account together, they can deposit more money and earn more interest every month.

Post Office
Post Office

Interest rate and investment limit

These are the benefits you get in POMIS:

Current interest rate:- 7.4% per annum (This rate is determined by the government every quarter and can be variable).

Maturity:- 5 years (It can be extended further after maturity).

Investment limit in a single account:- ₹9 lakh.

Investment limit in joint account:- ₹15 lakh.

Minimum investment: ₹1,000.

In a joint account, all account holders have equal shares, and interest is also paid jointly. This facility gives married couples the opportunity to make bigger investments together and earn higher monthly income.

How much income will you get each month?

To know how much income you can get every month from POMIS, let’s look at some examples:

Annual interest on a joint account of ₹15 lakh:- ₹1,11,000 (₹15,00,000 x 7.4%)

Monthly income:- Approximately ₹9,250 (₹1,11,000 / 12)

Annual interest on a single account of ₹9 lakh:- ₹66,600 (₹9,00,000 x 7.4%)

Monthly income:- Approximately ₹5,550 (₹66,600 / 12)

If you open a joint account with your spouse, you can get a steady income of up to ₹9,250 every month, which is very useful for household expenses or other needs. This is an income that will keep coming into your account every month without any hassle.

Who can open this account

Post Office
Post Office

The eligibility for opening a POMIS account is as follows:

Any person above 18 years of age (for a single account).

A maximum of 3 adults can open a joint account together (Joint A or Joint B type account).

Parents or guardians can also open an account in the name of a minor.

Minors aged 10 years or above can open an account in their name.

Why is this scheme so special

POMIS is considered a special and attractive investment option for several reasons:

Being a government-backed scheme, it is completely safe. Your investment is guaranteed by the government, so there is no risk of money sinking.

The returns are fixed and are paid every month, helping you plan your income.

Higher benefits for married couples: Married couples can invest more together and get higher benefits, thereby increasing the financial security of the family.

The account can be carried forward even after maturity, allowing you to enjoy monthly income for a longer period.