Post Office MIS Calculator

Min: ₹1,000 | Max: ₹9L (Single) / ₹15L (Joint)
Current POMIS rate: 7.4% p.a.
Fixed tenure: 5 years
About Post Office MIS

Post Office Monthly Income Scheme (POMIS) is a government-backed savings scheme that provides guaranteed monthly income.

Key Features:
  • ✅ Government guaranteed returns
  • ✅ Fixed monthly income
  • ✅ 5-year lock-in period
  • ✅ Premature withdrawal allowed
  • ✅ Joint account facility
  • ✅ Nomination facility
Current Interest Rate:

7.4% per annum (w.e.f. 01-04-2023)

Eligibility
Who Can Invest:
  • Any Indian resident
  • Minors (through guardian)
  • HUF (Hindu Undivided Family)
Investment Limits:
  • Single: ₹1,000 to ₹9,00,000
  • Joint: ₹1,000 to ₹15,00,000
  • Minor: ₹1,000 to ₹3,00,000
Formula Used
Monthly Interest:

Monthly Income = (Principal × Annual Interest Rate) ÷ 12

Annual Income:

Annual Income = Monthly Income × 12

Total Income (5 years):

Total Income = Monthly Income × 60 months

Interest is calculated on the principal amount and remains constant throughout the tenure.

Frequently Asked Questions (FAQs)

Post Office Monthly Income Scheme is a government-backed savings scheme that provides fixed monthly income to investors. It offers guaranteed returns with a 5-year lock-in period and is ideal for those seeking regular monthly income.

The current interest rate for Post Office Monthly Income Scheme is 7.4% per annum, effective from April 1, 2023. This rate is subject to change quarterly as per government notification.

The investment limits are: Single Account: ₹1,000 to ₹9,00,000; Joint Account: ₹1,000 to ₹15,00,000; Minor Account: ₹1,000 to ₹3,00,000. The minimum investment amount is ₹1,000 and investments must be in multiples of ₹1,000.

Yes, the interest income from Post Office Monthly Income Scheme is fully taxable as per your income tax slab. There is no tax benefit under Section 80C for investments made in POMIS. However, TDS is not deducted if you submit Form 15G/15H.

Yes, premature withdrawal is allowed after 1 year from the date of opening. However, penalties apply: 2% deduction if withdrawn between 1-3 years, and 1% deduction if withdrawn after 3 years but before 5 years.

Monthly interest is calculated using the formula: Monthly Income = (Principal Amount × Annual Interest Rate) ÷ 12. For example, if you invest ₹1,50,000 at 7.4% interest rate, your monthly income will be ₹925.

Yes, you can open a joint account with up to 3 adults. Joint accounts have a higher investment limit of ₹15,00,000 compared to ₹9,00,000 for single accounts. All joint holders have equal rights in the account.

After 5 years, you can withdraw your principal amount. You also have the option to reinvest the principal for another 5-year term. The interest rate applicable at the time of reinvestment will be the current rate.

Post Office MIS Calculator - Your Gateway to Steady Monthly Income

Our Post Office MIS Calculator is a powerful tool designed to help you plan your investments in the Post Office Monthly Income Scheme effectively. This government-backed savings scheme offers guaranteed monthly income, making it an excellent choice for retirees, senior citizens, and anyone seeking regular income streams.

With our advanced calculator, you can instantly determine your monthly income, annual returns, and total earnings over the 5-year tenure. The tool provides detailed breakdowns, interactive charts, and comprehensive analysis to help you make informed investment decisions. Whether you're planning for retirement or looking for a reliable source of monthly income, our POMIS calculator simplifies complex calculations and provides accurate projections.

Key benefits of using our calculator include accurate monthly income calculations, detailed tax implications analysis, interactive visualizations, yearly breakdowns, and comprehensive FAQ support. The calculator considers current interest rates, investment limits, account types, and various scenarios to provide you with the most accurate projections for your Post Office Monthly Income Scheme investments.

Why Choose Post Office MIS?
  • ✅ Government guaranteed returns
  • ✅ Fixed monthly income
  • ✅ No market risk
  • ✅ Flexible investment options
  • ✅ Joint account facility
Calculator Features
  • 📊 Instant monthly income calculation
  • 📈 Interactive charts and graphs
  • 💰 Tax implications analysis
  • 📅 Yearly breakdown projections
  • 📱 Mobile responsive design