Post Office Wife and Husband Joint Scheme: Earn Monthly Income Scheme with Safety and Stability
If you and your spouse are looking for a secure investment that provides regular income every month, the Post Office Monthly Income Scheme (POMIS) is one of the best options available in India. Commonly known as the “Wife and Husband Scheme in Post Office”, this plan allows couples to open a joint account and enjoy guaranteed monthly income with complete safety. Let’s understand all the details about this beneficial scheme and how it can help you build a stable financial future.
What is the Post Office Monthly Income Scheme (POMIS)?
The Post Office Monthly Income Scheme, or POMIS, is a government-backed savings plan run by India Post. It is designed especially for individuals and couples who wish to earn a fixed monthly income from their savings. The scheme offers a steady interest income every month for a period of 5 years. Since it is backed by the Government of India, it is considered one of the safest investment options for middle-class families, senior citizens, and couples seeking financial security.
Joint Account for Husband and Wife
One of the biggest advantages of the Post Office Monthly Income Scheme is that it allows joint accounts. A husband and wife can together open a joint POMIS account and deposit their savings to earn monthly interest.
Here are some important details about joint accounts:
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You can open a joint account with up to three people, but most commonly it is between husband and wife.
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Each individual can invest up to ₹9 lakh in a single account.
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In the case of a joint account, the maximum total deposit allowed is ₹15 lakh.
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Both partners share ownership of the account and can operate it jointly.
This feature makes POMIS ideal for couples who wish to invest together and receive a regular monthly income credited directly to their Post Office savings account.
Current Interest Rate and Tenure
As of now, the interest rate for the Post Office Monthly Income Scheme is 7.4% per annum, which is paid out every month. The lock-in period for the scheme is 5 years. At the end of 5 years, the investor can either withdraw the total amount or reinvest it in a new MIS account for another 5-year term.
For example, if a couple invests ₹15 lakh jointly, they will receive around ₹9,250 as monthly interest. This consistent payout can act as a steady source of income, especially for retired couples or families looking for fixed returns without risk.
How to Open a Joint MIS Account
Opening a POMIS account is simple and can be done at any nearby Post Office. Here are the steps:
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Visit your nearest India Post Office branch.
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Fill out the MIS Account Opening Form and choose the joint account option.
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Submit KYC documents – Aadhaar card, PAN card, and recent photographs of both husband and wife.
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Deposit the investment amount through cash, cheque, or demand draft.
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Once the account is opened, the monthly interest will be credited to your Post Office Savings Account.
You can also transfer the account from one Post Office branch to another, making it convenient even if you relocate.
Premature Withdrawal and Other Benefits
While the scheme has a 5-year lock-in period, it offers the flexibility of premature closure after 1 year with a small deduction on the deposit amount.
Other benefits include:
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Government-backed safety: Zero risk of loss or default.
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Monthly interest payout: Provides regular income without breaking the principal.
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Nomination facility: You can nominate your children or family members.
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Tax benefits: Although the interest earned is taxable, the safety and regular income often outweigh this factor for many investors.
Why This Scheme is Ideal for Couples
For husband and wife, this Post Office scheme offers both emotional and financial stability. It helps couples plan their post-retirement life, manage household expenses, or support their children’s education without worrying about market risks. With guaranteed monthly income and complete security, it’s an excellent choice for couples who prefer low-risk, fixed-return investments.
Final Words
The Wife and Husband Joint Scheme in Post Office under the Post Office Monthly Income Scheme (POMIS) is a perfect blend of security, simplicity, and steady income. Whether you are a young couple planning for the future or retired partners seeking regular income, this scheme ensures financial peace of mind.
By investing once and receiving monthly interest for five years, couples can enjoy a stable, worry-free income – truly making it a smart and safe choice for Indian households.