Monthly Income Scheme Indian Postal Scheme

Monthly Income Scheme
Safe & sure way to get a regular monthly income.

Specially suited for retired employees/ Senior Citizens or any one with high sum for investment .

Rate of interest 8%.

10% Bonus on maturity. (withdrawn w.e.f 13th February 2006)

Maturity Period - Six Years.

Post maturity Interest at the rate applicable from time to time (at present 3.5%)

Auto credit facility to SB Account.



Type of Account
Minimum limit - Maximum limit

Single
Rs. 1000/ - Rs. 3 lakhs

Joint
Rs. 1000/ - Rs. 6 lakhs


Deposit in Monthly Income Scheme and invest interest in Recurring Deposit to get 10.5% (approx) interest.

Above scheme operates automatically, if you open a saving bank account and give a request for automatic transfer of Monthly Income Scheme interest to Recurring Deposit through Saving Bank account.