Post Office Monthly Income Account Scheme
(MIS)
Interest payable, Rates,
Periodicity etc.
8.50% per annum w.e.f. 01.04.2012
Investment limits and
Denominations
In multiples of INR 1500/- Maximum INR 4.5 lakhs in single account and INR 9
lakhs in joint account.
Salient features including Tax
Rebate
Maturity period is 5 years. Can be prematurely encashed after one year with some
conditions. No Bonus is admissible on maturity in respect of
MIS accounts opened on or after 01.12.2011.
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