POMIS
Also called Post Office Monthly Income Scheme
Post Office Monthly Income Scheme: deposit a lump sum once and get interest paid every month for five years.
POMIS turns a lump sum into a fixed monthly income for five years. The rate, a payout example and the early exit cost are in the post office monthly income scheme explained.
Questions people ask
What is the full form of POMIS?
POMIS stands for Post Office Monthly Income Scheme. You deposit a lump sum once, the post office pays you interest every month for five years, and then returns your deposit.
What is the POMIS limit?
The minimum is 1,000 rupees. The maximum is 9 lakh rupees in a single account and 15 lakh rupees in a joint account, per India Post.
Is POMIS interest taxable?
Yes. There's no deduction on the deposit, and the interest is taxed at your slab as income from other sources.
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