Minimum Deposit
Min ₹1,000 (in multiples of ₹1,000)
Maximum Deposit
₹9 Lakh (Single) / ₹15 Lakh (Joint)
Scheme Tenure
5 Years Fixed Tenure
Tax Status
Taxable (No TDS deducted)
Official Rules & Key Features
- Monthly Interest Credit: Fixed monthly interest credited automatically into savings account.
- Deposit Cap: ₹9,000,000 for single accounts and ₹15,000,000 for joint accounts.
- Sovereign Security: 100% principal protection guaranteed by Government of India.
- Reinvestment: Monthly interest can be automatically routed via ECS into 5-Year RD.
- Transferability: Account can be transferred free of charge to any post office across India.
Eligibility & Who Can Open Account
- Single adult resident Indian.
- Joint Account (up to 3 adults with equal share).
- Guardian on behalf of minor.
Taxation Rules
Monthly interest is added to total annual taxable income. No TDS is deducted by the Post Office.
Premature Closure
No withdrawal before 1 year. Between 1 and 3 years, 2% of principal is deducted. Between 3 and 5 years, 1% of principal is deducted.
Required KYC & Verification Documents
Aadhaar Card, PAN Card, photos, and address proof.
Calculate Returns
Estimate exact maturity yield, monthly interest payout, or premium quotes for Post Office Monthly Income Scheme (MIS).
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