India Post office is offering an monthly investment scheme @7.6% interest on investment in the Post Office Monthly Income Scheme (MIS) Account. The interest rates applicable to small savings schemes will be reviewed by the Ministry of Finance on a quarterly basis.
Minimum amount of ₹ 1,000/- will be needed to open an account under the Post Office Monthly Income Scheme. A Monthly Income Scheme account can be operated on a single or joint basis.Maximum Investment amount is restricted to ₹4.5 lakh for a single account on a monthly basis. For a joint account, the upper limit is ₹9 lakh.