Principal Invested
₹ 5,00,000
Guaranteed Monthly Payout
₹ 3,083
Total Interest Earned
₹ 1,85,000
Total Maturity Return
₹ 6,85,000
About the Post Office Monthly Income Scheme (MIS) Calculator
Our free Post Office Monthly Income Scheme (MIS) Calculator helps investors determine their guaranteed monthly interest payouts and overall returns from the Post Office Monthly Income Scheme (POMIS), a secure government-backed savings option.
How Post Office MIS Returns Are Calculated
The Post Office Monthly Income Scheme provides a steady monthly income stream to investors based on a lump-sum deposit. The interest calculation formula is straightforward:
$$\text{Monthly Payout} = \frac{\text{Principal Investment} \times \text{Interest Rate (\% p.a.)}}{12 \times 100}$$
- Tenure: The scheme carries a standard lock-in period of 5 years.
- Capital Security: Backed fully by the Government of India, ensuring complete safety of the principal amount.
How to Use the Calculator
Simply enter your investment details or adjust the interactive range sliders:
- Investment Amount: The single lump-sum deposit (subject to maximum limits of ₹9 Lakhs for single accounts and ₹15 Lakhs for joint accounts).
- Interest Rate: The current government-notified interest rate.
- Tenure: Switch seamlessly between Years and Months to evaluate your investment duration.
Click the Calculate Payouts button to instantly view your principal, guaranteed monthly interest, cumulative interest earned, and total maturity return.
Frequently Asked Questions (FAQs)
Is the monthly interest earned from Post Office MIS taxable?
Yes, the monthly interest payouts received from a POMIS account are fully taxable according to your applicable individual income tax slab. However, there is no Tax Deducted at Source (TDS) deducted by the post office.
Can a Post Office MIS account be prematurely closed?
Yes, premature closure is allowed after 1 year from the deposit date, but penalty deductions apply (2% deduction from principal if closed between 1 and 3 years, and 1% deduction if closed between 3 and 5 years).
What is the maximum investment limit for Post Office MIS?
An individual can invest up to a maximum of ₹9 Lakhs in a single account, while joint accounts allow a higher ceiling of up to ₹15 Lakhs.
