The Economic Times

Rs 15 lakh investment in Post Office Monthly Income Scheme (POMIS): What monthly income can you earn for 5 years?

Low-risk investors can earn a fixed monthly income of Rs 9,250 from a Rs 15 lakh deposit in a joint Post Office Monthly Income Scheme (POMIS) account. This government-backed scheme offers an annual interest rate of 7.4% for a 5-year tenure. While interest is taxable as per income slab, no TDS is deducted by the post office.