Guaranteed monthly income  scheme from post office

 It is a scheme  in which you invest a certain amount and earn  a fixed interest every month. Post office post offers post office  monthly income scheme among a host of banking products and services. It is highly reliable. It generate steady income. It is a government backed  scheme. Withdraw the amount either any post office.


  • Upto 4.5 lakh individually.
  • Upto 9 lakh jointly.

Investment period

 5 years

Lock in period

  5 years.

         If it is withdrawn after one year and before third year 2 % penalty  and if it is withdrawn after 3rd year and before five year 1 % penalty


  • It  is safe until maturity.
  •  you can withdraw the invested amount when the scheme matures. 
  • It is not a subject to market risks.
  • You can start with the initial investment Rs 1500.
  • You earn income in the form of interest every month. 
  • The returns are not inflation beating.
  • It  is higher compared to other fixed deposits. 
  • Income is subject to taxation.
  • It has no TDS.
  • Receive pay out one month from  making first investment , not the beginning of every month.
  • Open more than one account. 
  • Open a joint account with the two or more people.
  •  All account holders equally. 
  • Investor can move  the funds to RD.
  • Investment can’t exceed  3 lakhs for a minor.
  • Investor can nominate a  beneficiary. 
  • Collect the monthly interest directly from post office.


  •  Only resident Indian can open this account.
  • NRI’s can’t open this account.
  •  you can open it in your child’s name.
  •  10 year about children, becomes 18.


  •  Copy of ID card.
  • Residential proof
  • 2 passport size photos.

How to open

  • Open  a post office savings account.
  • Collect a  post office monthly income scheme application form.
  • Submit the filled form with the copy of ID, residential proof, 2 photos. 
  • Get the signature of  Nominee.
  • Make  initial deposit via cash /check.

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