Govt restores bonus on post office small savings

NEW DELHI: The government today restored bonus on the once-popular Monthly Investment Scheme (MIS) of post office and extended income tax rebate on two other small savings schemes.

While in the past it paid a bonus of 10 per cent on maturity, it would now offer only five per cent on the maturity of MIS, applicable to new accounts from tomorrow.

A Finance Ministry statement said income tax rebate would be extended to investments under Senior Citizens Savings Scheme, Five-Year Post Office Time Deposits.