Monthly Income Scheme Calculator

Note from Editor

Calculate Monthly Income by providing Invested Amount , Interest rate offered by Post Office or Bank, Tenure in Years and if Bank or postoffice is providing any Maturity Bonus , please mention the same in terms of Percentage.

Salient Features  for Post Office Monthly Income Scheme:

1.Interest rate of 6.60 % , applicable from 1-Apr-2020

2. Maturity Period is 5 yrs.

3. No Bonus on Maturity.

4. No Tax Deducted at Source.

5. No tax rebate is given.

6. Minimum investment amount is 1000 Rs  or in multiples thereafter.

7. Maximum Amount is 4.5 lakh rupees and 9 lakh rupees , if held jointly.

8. Auto Credit Facility to Saving Bank Account.

9. NRI cannot open this account.

10. Specially suited for retired employees / senior citizen or any one with high Sum for Investment.