The Monthly Income Scheme (MIS) offered by The Kalna Town Credit Co-operative Bank Ltd. is designed for individuals who seek a safe, regular, and guaranteed income from their savings. Under this scheme, you deposit a lump sum amount for a fixed tenure, and the bank credits interest directly to your linked savings account every month — leaving your principal fully intact.
This scheme is especially suited for retirees, senior citizens, and pensioners who require a stable monthly income to meet living expenses. All resident individuals are eligible to open an MIS account in single or joint names. Protected under DICGC insurance up to ₹5,00,000 and governed by the Reserve Bank of India.
Our bank provides the following features for Monthly Income Scheme account holders:
| # | Tenure / Category | Rate of Interest (p.a.) | Effective From |
|---|---|---|---|
| 1 | MIS — 1 Year to 3 Years | 7.00% | 01-Apr-2024 |
| 2 | MIS — 3 Years to 5 Years | 7.50% | 01-Apr-2024 |
| 3 | MIS — Above 5 Years | 8.00% | 01-Apr-2024 |
| 4 | Senior Citizen MIS (All Tenures) | +0.50% extra | 01-Apr-2024 |
Interest rates are subject to change as per RBI guidelines and Bank Board decisions. No interest is payable if the account is closed before 15 days of maturity. A penalty will be levied on premature closure. Please contact our branch for current rates.
Download the MIS Account Opening Form from the link above or collect it at our Kalna branch.
Decide your deposit amount and tenure to calculate your expected monthly interest income.
Submit the completed form with KYC documents and initial deposit at the Kalna branch.
Start receiving monthly interest in your linked savings account from the very next month.
Our banking experts are ready to help you choose the right scheme.
