Post Office Monthly Income Scheme

Illustration of a post office with text post office monthly income scheme.

Are you looking for an attractive investment option that guarantees a steady income? Ever heard about the Post Office Monthly Income Scheme (POMIS)? 

Managed by the Indian postal system, POMIS offers a fixed monthly return, providing stability in the valuable investment world.

Curious to learn more about POMIS? 

This article will help you to understand its features, eligibility criteria, required documentation, and step by step account opening process, all presented in simple terms to ensure you understand every detail.

What is the Post Office Monthly Income Scheme?

The Post Office Monthly Income Scheme (POMIS) is a savings plan run by the Indian postal system. Its main goal is to give investors a consistent monthly income. 

POMIS is especially popular among people who want a safe way to grow their money without worrying about market changes. It is like putting your money in a safe place and getting regular returns on it. This scheme gives 7.4% interest per annum. For those aged 60 and above looking for regular monthly income, the Senior Citizens Savings Scheme gives 8.2% interest per annum.

Features of Investing in POMIS:

POMIS comes with some key features that make it a good choice,

Guaranteed Monthly Income: With POMIS, you are sure to get a fixed amount of money every month. This makes it easier to plan your expenses and manage your finances.

Competitive Interest Rates: POMIS offers rates that are as good as, or even better than, other similar schemes. This means you can earn a decent return on your investment without taking on much risk.

Backed by the Government: POMIS is supported by the Indian government. Knowing that your investment is safe and backed by the government can give you peace of mind.

Flexible Investment Tenure: You can choose how long you want to invest your money in POMIS, whether it is 5 years or 10 years. This flexibility lets you decide your investment according to your needs.

Easy to Access: Since post offices are everywhere, it is easy to find one where you can invest in POMIS. This accessibility ensures that anyone, no matter where they live, can take advantage of this scheme.

Eligibility Criteria to Open a POMIS Account:

To open a POMIS account, you need to meet certain requirements:

Age Requirement: Individuals must be at least 18 years old to invest in POMIS. However, minors can also participate through guardian accounts, thereby extending the scheme’s accessibility to younger investors.

Citizenship: POMIS is open to Indian citizens residing in the country. Non-resident Indians (NRIs) and foreign nationals are not eligible to invest in this scheme, as it is specifically tailored to cater to the needs of Indian residents.

Joint Accounts: Joint accounts can be opened by two or three adults, further expanding the accessibility of POMIS and enabling individuals to pool their resources for investment purposes.

Documentation Required to Open a POMIS Account:

Opening a POMIS account necessitates the submission of specific documents to verify the investor’s identity and address. The following documents are typically required:

Proof of Identity: Investors are required to provide proof of identity, which may include documents such as an Aadhaar card, PAN card, passport, or voter ID card. These documents serve to authenticate the investor’s identity and ensure compliance with regulatory requirements.

Proof of Address: To verify the investor’s address, documents such as utility bills, rental agreements, or an Aadhaar card with the current address can be submitted. This helps establish the investor’s residence and facilitates communication regarding the investment account.

How to Open a POMIS Account?

The process of opening a POMIS account is simple and can be completed in a few straightforward steps:

Visit the Nearest Post Office: Investors need to visit their nearest post office, which offers POMIS facilities. With thousands of post offices spread across the country, locating a convenient branch is usually not an issue.

Fill Out the Application Form: Upon arrival at the post office, investors must fill out the POMIS application form, providing accurate personal and contact details. This information is crucial for setting up the investment account and ensuring effective communication with the investor.

Submit Required Documents: Investors must submit the necessary documents, including proof of identity and address, to authenticate their identity and comply with regulatory requirements. Ensuring the accuracy and completeness of these documents is essential for a smooth account opening process.

Deposit the Investment Amount: The next step involves depositing the desired investment amount as per the scheme’s guidelines. Investors can choose the amount they wish to invest based on their financial capacity and investment objectives.

Commencement of Monthly Income: Once the account is opened and funded, investors can start receiving their monthly income as per the scheme’s terms. This regular stream of earnings provides investors with financial stability and peace of mind, knowing that they can rely on a steady income source.


To conclude, the Post Office Monthly Income Scheme stands as the best and most secure investment avenue for individuals seeking a predictable source of income. 

With its attractive features, government backing, and ease of accessibility, POMIS continues to attract investors across diverse demographics. Whether it is retired persons looking for financial stability or individuals with low risk tolerance, POMIS offers the best solution to meet their investment needs.

By understanding the details of POMIS and carefully considering its benefits, investors can make informed decisions that align with their financial goals and standards.


  • How is the interest calculated and paid in POMIS?

    The interest in POMIS is calculated every year and paid out monthly to investors. The interest rate is determined by the government and is subject to periodic revisions based on common economic conditions.

  • Is there any tax benefit available for investing in POMIS?

    No, there are no tax benefits available for investing in POMIS. The interest earned is taxable as per the investor's income tax slab, and tax deductions do not apply to POMIS investments.

  • Can I withdraw my investment before the maturity period?

    Yes, premature withdrawal is allowed in POMIS, but it is subject to certain conditions and penalties. Investors should carefully consider the implications before opting for premature withdrawal, as it may impact their overall returns and catch penalties as per the scheme's rules and regulations.