What is the Post Office Monthly Income Scheme (POMIS)?
The Post Office Monthly Income Scheme (POMIS) is a low-risk, guaranteed return investment scheme backed by the Government of India. It is designed for investors who seek a steady, reliable monthly income without being exposed to market volatility.
Key Features of POMIS
- Guaranteed Returns: Interest rate is fixed by the government every quarter (currently around 7.4% p.a.).
- Investment Limits: Minimum deposit is ₹1,000. The maximum limit is ₹9 Lakhs for single accounts and ₹15 Lakhs for joint accounts.
- Tenure: The maturity period is exactly 5 years.
- Monthly Payout: Interest is calculated annually but paid out monthly, providing a great secondary income stream.
How to use the POMIS Calculator
Our POMIS Calculator helps you estimate your exact monthly payout. Simply enter your desired deposit amount and the current interest rate. The calculator instantly breaks down your monthly income, total interest earned over 5 years, and maturity details.
Who Should Invest in POMIS?
POMIS is ideal for retirees, homemakers, or anyone looking for a fixed monthly cash flow with zero capital risk. However, remember that POMIS returns are fully taxable according to your income tax slab, and there are no Section 80C tax benefits for the principal deposit.