Youth Empowerment Sphere
(YES Arunachal)
Post Office Monthly Income Scheme (POMIS)
Official scheme details, eligibility information and application guidance.
About the Scheme
Brief
The Post Office Monthly Income Scheme (POMIS) is a low-risk, government-backed savings plan designed to provide a steady stream of passive income through monthly interest payouts.
Objective
- To offer investors a reliable, fixed monthly payout to meet regular expenses
- To safeguard the principal amount by providing government-backed security
Eligibility Criteria
- Residency: Must be a Resident Indian; NRIs are not eligible
- Age:
i. Any adult (single or joint account)
ii. Minors aged 10 years and above can open an account in their own name
iii. Guardians can open accounts on behalf of a minor or a person of unsound mind
- Account Type: Single or joint (up to 3 adults with equal shares)
Benefits
- Offers a fixed interest rate of 7.4% p.a. (for FY 2025-26), paid monthly
- Being government-backed, the invested principal is completely secure
- Accounts can be transferred between post offices across India at no extra cost
- Upon maturity after 5 years, the corpus can be reinvested for another term
- Available at the time of opening or later to ensure easy claims for beneficiaries
- Tax is not deducted at source, though interest earned is taxable as per the individual's income slab
Nodal Department
Department of Posts (India Post)