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Friends & Family
Monthly Income Scheme
Indian Postoffice Savings
Who can open
- A single adult or 2-3 adults jointly.
- More than one account can be opened subject to maximum deposit limits.
Where can be opened :
At any post office.
Maturity
Period of maturity of an account is six years.
Deposits:
Only one deposit shall be made in an account.
Deposit limits
- Minimum: rupees one thousand.
- Maximum: rupees three lakhs in case of single and rupees six lakhs in
case of joint account. Deposits in all accounts taken together shall not
exceed Rs. three lakhs in single account and Rs. six lakhs in joint account.
The depositor’s shares in the balances of joint accounts shall be taken as
one half or one third of such balance according as the account is held by 2
or 3 adults.
Interest
- Interest @ 8 per cent/ per annum, payable monthly in respect of the
accounts opened on or after the 1st March, 2003. - In addition, bonus equal to ten per cent of the deposited amount is
payable at the time of repayment on maturity.
Pass Book :
Depositor is provided with a pass book with entries of the deposited amount
and other particulars duly stamped by the post Office.
Premature cloasure :
Premature closure facility is available after one year subject to condition.
Closure of account
Account shall be closed after expiry of 6 years, bonus equal to ten per cent of
deposits shall be paid alongwith principle amount.
Income Tax relief :
Income tax relief is available on the interest earned as per limits fixed vide section 80L
of Income Tax, as amended from time to time.
Prerak Bharwada [ 03Jun08]
Dear Savingwala,
I M interested In Some of the Monthly Income Saving Plan. Kindly advice for the same.
My Ctc No:- 9820522380
SASWAT TRIPATHY [ 12Jun08]
Savingwala,
I Am interested In Some of the Monthly Income Saving Plan. Kindly advice for the same.
pls. details me.for mail id.
email: tripathy_delhi@rediffmail.com
thanks
Sanjib Kumar Roy [ 16Jun08]
I Am interested In Some of the Monthly Income Saving Plan. Kindly advice for the same.and also for the PPF account from post office. that I have heard that money shortage are going in this deposit scheme.
pls. details me.for mail id.
sanjibkumarroy@gmail.com
vinaylic6 [ 21Jun08]
I WANT MONTHLY 2000/- P.M. POST OFFICE SAVING FOR 10 YEAR OR 15 YEARS. WHAT WILL MATURTY 10 YEAR OR 15 YEARS BY ME.
Ram chandra Barik [ 21Jun08]
I want to open an post office MIS to invest 6 lac,I am in the high incom tax bracket and already have 1 lac saving in LICs.please guide me, will the MIS maturity with bonus will be taxable and will the monthly earning be considered as my earning along with my salary.should it be wise to open two account in the name of my wife and she is not earning,will the earning from this deposites be taxed.
VB SHARMA [ 03Jul08]
i LOST MY POST OFFICE MIS PASSBOOK BEARING NO 385787 AND SOMEONE TOOK OUT THE MONEY RS 30,000/- BEFORE MATURITY DATE. THE MATURITY DATE WAS 18/9/10.
PLS ADVISE ME WHAT TO DO?
JANAK DULARI SAHRMA
A-3/215, JANAKPURI
NEW DELHI 110058
MOB 09873938002
Nilabja [ 04Jul08]
Hi
My father-in-law died suddenly. We have a MIS in the name of my wife,his daughter. Nomination is complete
Incase, we want to withdraw the money,does she require to be present in person or she can fill up the form and authorize others to collect the money
Regards
Nilabja
Biswajit Sarma [ 09Jul08]
Dear Savingwala,
I Am interested In Some of the Monthly Income Saving Plan. Kindly advice for the same.
pls. details me.for mail id.
email: sarma_biswa@yahoo.com
thanks
S.Sarangan [ 10Jul08]
I withdrawn from MIS 2 lacs invested after
completing 3 years. The post office
deducted two thousand from that amount.
But I have noticed from the web site no deduction after 3 years period. Pl advice
I can get back what and where should I approach.
n.k.shrivastav [ 12Jul08]
In addition, bonus equal to ten per cent of the deposited amount is
payable at the time of repayment on maturity.
ASHOKE SEN [ 14Jul08]
Me and my family are having a few M.I.S at Hyderabad G.P.O. I have been transferred to Kolkata in the last month. Before shifting, I had contacted Hyderabad G.P.O for transfer to Bangur Avenue Post office, Kolkata-55 which is nearest to my residence. While I have contacted Kolkata P.O.now, they have mentioned that we have to transfer these MIS from Hyd only. Now we have already shifted to Kolkata and it is very very difficult for us to go to Hyderabad and do this as it means lots of expenses and time. Now either Hyderabad G.P.O or Kolkata P.O is incorrect but it shows total insnsitveness of Indian Post Office system. Please guide us, what to do?
maria rosalind [ 16Jul08]
Dear Sir,
Pls give details as i am working in the UAE i would like to operate some of your saving schemes from here .Is it possible???Pls send me the details at the earliest,
thanks and regards
Maria Rosalind
971 50 8752179
deepesh sharma [ 17Jul08]
i am intrested to invest some money monthly so that i can save some money &get good return. can u suggest me?
Ash Mahamad [ 18Jul08]
I am intrested to invest some money monthly so that i can save some money &get good return. can u suggest me?
9210815700
kiran [ 19Jul08]
I wants to spend some money in any govt scheme @1 lakh which scheme is giving more interest for investment if it is for 5 to 10 years
please also send me the detail for short term invest ment interest detail eg 3 month