Monthly Income Scheme (MIS) is designed to offer a guaranteed monthly income as per the interest rate ranging from 3% to 5.60% pa. As a person invests a sum of money for a set time period, he/she will receive a monthly income and interest on total investment upon maturity.

The money invested in MIS can be withdrawn upon the maturity of the scheme. You can also withdraw from MIS prematurely. However, the respective penalty will be applicable.

Investment in MIS begins from ₹1000/- and in multiples of ₹100/- thereof with no upper limit.

The Monthly Income Scheme is available for any individual in his/her own name. By more than one individual in their joint names with suitable repayment instructions.

In case of a minor, the scheme can be availed by his/her natural guardian or by a guardian appointed by court on the minor’s behalf.

There is no tax benefit on Monthly Investment schemes.