Post Office Monthly Income Scheme: Interest Rate & Features Updated: 09-04-2020 12:46:38 PM The Post Office Monthly Income Scheme (POMIS) is a Government of India backed small savings scheme that allows the investor (s) to set aside (save) a specific amount every month. Subsequently, interest is added to this investment at the applicable rate and paid out to the depositor(s) on a monthly basis. Following individuals are eligible to avail the scheme- A resident of India. NRIs are not eligible to invest in this scheme Individual of or above the age of 10 years Who should invest? Post Office Monthly Income Scheme is suitable for investors who are seeking fixed monthly income but are unwilling to take any risks in their investments. Thereby, it is more favourable for retired individuals or senior citizens who have landed into the no-more-paycheck zone It is suitable for the investors seeking a one-time investment to serve the purpose of getting regular income to maint...