Welcome To Odisha Postal Circle

                                        MONTHLY INCOME SCHEME(MIS)
Period During which Opened Minimum Amount Of Deposits
        (Rs)
Maximum Amount in Case Of Single Account
        (Rs)
    Rate   
Of Interest
Monthly Interest payable  on   minimum   Deposit(Rs)
From          To
01.06.1993 01.09.1993 6,000 2,04,000 14% 70.00
02.09.1993 31.12.1998 6,000 2,04,000 13% 65.00
01.01.1999 14.01.2000 6,000 2,04,000 12% 60.00
15.01.2000 31.01.2000 6,000 2,04,000 11% 55.00
01.02.2000 17.07.2000 6,000 3,00,000 11% 55.00
18.07.2000 28.02.2001 1,000 3,00,000 11% 9.00
01.03.2001 28.02.2002 1,000 3,00,000 9.5% 8.00
01.03.2002 28.02.2003 1,000 3,00,000 9.0% 7.50
01.03.2003 15.08.2007 1,000 3,00,000 8.0% 7.00
16.08.2007 onwards 1,500 4,50,000 8.0% 7.00
FEATURES:
  • Only one deposit in an account.
  • Only individuals can open the account;either single or joint(two or three).
  • Maturity Period -6 years;Lock up period-1 year.
  • Interest rounded off to nearest rupee.
  • Interest paid to the depositor monthly on completion of the month from the date of initial deposit.
  • Monthly Interest can be automatically credited to savings account.
  • Premature closure is permitted.

                  ->After 1 year and before 3 years,with reduction of 2% from deposit amount.

                  ->After 3 years,with reduction of 1% from deposit  amount.

         (The rate of raduction applicable to premature closure is w.e.f. 10/02/2006).

  • On maturity,10% of principal is paid as bonus to the depositor,only in respect of accounts opened prior to 13/02/2006
  • On maturity,5% of principal is paid as bonus to the depositor,only in respect of accounts opened on or after 08/12/2007.