About the Post Office MIS Calculator
This Post Office MIS calculator works out the monthly income paid by the National Savings Monthly Income Account Scheme (POMIS). Enter your deposit, choose a single or joint account and the interest rate, and it shows the monthly payout, the yearly income, the total interest over the five-year term and the amount returned at maturity.
MIS suits retirees and anyone who wants a predictable monthly income from a lump sum with a sovereign guarantee. Interest is paid every month and is not compounded, so the payout stays the same for five years and the full deposit is returned at maturity. The National Savings Institute lists a rate of 7.4% a year for deposits from 1 April 2023 to 30 September 2026 (the latest notified quarter when this page was updated); the rate in force on the day you open the account applies for the whole term.
The maximum deposit is ₹9 lakh in a single account and ₹15 lakh in a joint account, with a ₹1,000 minimum. You can close the account after one year: 2% of the deposit is deducted if you close before three years and 1% after three years. Turn on early closure to see what you would get back. MIS interest is fully taxable and the deposit does not qualify for 80C.
With the default inputs, the monthly income is ₹5,550.00. Change any value above to recalculate instantly.
How to use the post office mis calculator
- 1Enter the amount you plan to deposit in the Monthly Income Scheme.
- 2Choose a single or joint account to apply the right deposit limit.
- 3Keep 7.4% or enter the rate in force when you open the account.
- 4Read the monthly and yearly income.
- 5Turn on early closure to see the deduction if you might need the money before 5 years.
Formula and method
MIS pays simple interest every month: the deposit times the annual rate divided by 12. Because interest is paid out rather than added to the balance, nothing compounds inside the account and the deposit is returned unchanged at the end of five years. If you reinvest the payouts yourself (for example in a Post Office RD) your overall return will be higher.
For early closure the calculator counts completed months of interest and deducts 2% of the deposit if you close after one year but before three years, or 1% after three years, as set out in the scheme rules. Amounts above the single (₹9 lakh) or joint (₹15 lakh) ceiling are excluded.
- P
- Deposit, capped at ₹9 lakh (single) or ₹15 lakh (joint)
- r
- Annual interest rate (7.4% = 0.074)
Worked examples
₹9 lakh single account
The maximum single deposit of ₹9,00,000 at 7.4% pays ₹5,550 a month, or ₹66,600 a year. Over five years that is ₹3,33,000 of interest, and the full ₹9 lakh is returned at maturity.
₹15 lakh joint account
A couple using the joint limit of ₹15,00,000 receives ₹9,250 a month. Total interest over the five-year term is ₹5,55,000.
₹5 lakh closed after 2 years
₹5,00,000 pays ₹3,083.33 a month, so 24 months bring ₹74,000 of interest. Closing before three years deducts 2% of the deposit (₹10,000), so ₹4,90,000 of principal comes back.
Frequently asked questions
What is the Post Office MIS interest rate?+
The National Savings Institute lists 7.4% a year, paid monthly, for Monthly Income Scheme accounts opened from 1 April 2023 to 30 September 2026. The rate on your opening date stays fixed for the five-year term.
How much monthly income will ₹9 lakh give in Post Office MIS?+
At 7.4%, a ₹9 lakh single account pays ₹5,550 a month (₹66,600 a year). A ₹15 lakh joint account pays ₹9,250 a month.
Can I close a Post Office MIS account early?+
Yes, after one year. If you close after one year but before three years, 2% of the deposit is deducted; after three years but before maturity, 1% is deducted. Closure in the first year is not allowed.
Is MIS interest taxable?+
Yes. The monthly interest is added to your income and taxed at your slab rate, and the deposit does not qualify for the 80C deduction. Report it in your return every year, even though it is received monthly.
What happens to the MIS deposit at maturity?+
After five years the full deposit is repaid. You can then reinvest it in a new MIS account at the rate in force at that time, subject to the deposit limits.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.