Organisation : Department of Posts India
Facility : Monthly Income Scheme (MIS) Account
Website : http://www.indiapost.gov.in/mis.aspx
Monthly Income Scheme (MIS) Account
** From 1.4.2016, interest rates are as follows:-
7.80% per annum payable monthly.
In multiples of INR 1500/-
Related : India Post Pincode Search :www.statusin.in/18661.html
** Maximum investment limit is INR 4.5 lakhs in single account and INR 9 lakhs in joint account.
** An individual can invest maximum INR 4.5 lakh in MIS (including his share in joint accounts)
** For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.
** Account may be opened by individual.
** Account can be opened by cash/cheque and in case of cheque the date of realization of cheque in Govt. account shall be date of opening of account.
** Nomination facility is available at the time of opening and also after opening of account.
** Account can be transferred from one post office to another.
** Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts.
** Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
** Joint account can be opened by two or three adults.
** All joint account holders have equal share in each joint account.
** Single account can be converted into Joint and Vice Versa.
** Minor after attaining majority has to apply for conversion of the account in his name.
** Maturity period is 5 years from 1.12.2011.
** Interest can be drawn through auto credit into savings account standing at same post office, through PDCs or ECS./In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices.
** Can be prematurely en-cashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.)
** A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07 and up to 30.11.2011. No bonus is payable on the deposits made on or after 1.12.2011.
FAQs :
Can i update my email id too?
Yes, you can update your email id from ‘My Profile’ link . A verification link will be sent to your new email ID. Click verification link and your email id will be updated.
My User ID has got blocked. What should I do?
On entering wrong password five times consecutively, your user ID will get blocked for 30 minutes. After this period, it will automatically become active.Or alternatively you can use Forgot Password Service to generate an OTP and reset your Password .
What should I do if my account get expired?
If you do not log-in to your account on IndiaPost Site for 3 (Three) months, your account will get expire. In this case on logging into your account you will get account Expiry Message along with Resend Activation Link.You can click this link to send activation link to your registered email Id.
What precautions can I take to protect my User ID/Password?
* Memorise User Id and Password
* Do not write them down anywhere
* Do not tell your User ID/Password to anyone.
* Make sure that no one is looking when you key in your User ID/Password
What should I do when my password expired?
In this case, you will be able to login with expired password. After logging in you will be redirected to change password screen, you have to enter your old and new password, confirm new password and submit the details to set new password.