Understanding MIS & SCSS: Interest Rates, Limits and Online Registration

The Post Office’s Monthly Income Scheme (MIS) and Senior Citizens Savings Scheme (SCSS) serve different saving needs but share a common advantage: they can now be registered online. To enrol, users must first register on the Post Office portal, complete Aadhaar‑based KYC, and then select the desired scheme. MIS provides a fixed interest rate of 6.9% per annum, paid out as a monthly income, with deposit limits ranging from INR 1,000 to INR 4.5 lakh for individuals. SCSS, designed for citizens aged 60 and above, offers a higher rate of 7.4% per annum, payable quarterly, with a minimum deposit of INR 1,000 and a maximum of INR 15 lakh. Both schemes lock the principal for a specified tenure—MIS for 5 years, SCSS for 5 years as well—allowing early withdrawal only under specific conditions. The online application process records all details in a digital passbook, and interest earnings are automatically credited to the linked bank account, providing a hassle‑free, secure investment avenue.