About the Post Office MIS
What is the Post Office MIS?
The Post Office Monthly Income Scheme (POMIS) is a 5-year government-backed deposit that pays a fixed interest every month. It suits retirees and anyone who wants a predictable monthly income with no market risk.
Enter the amount, the interest rate and the tenure. The calculator shows the monthly payout, the total interest you will receive and the principal returned at maturity.
How to use the Post Office MIS
- Investment Amount (INR) (sample: 5,00,000)
- Interest Rate (% per year) (sample: 7.4)
- Years (sample: 5)
- Press Calculate MIS Income (results also refresh as you type). The result card shows the Monthly Payout, along with Principal, Total Income and Maturity Principal.
Formula used
Monthly income = Deposit × Rate ÷ 12
- Total income = Monthly income × 12 × years
Interest is paid monthly and is not compounded unless you reinvest it, for example in a post office RD.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Investment Amount (INR) | 5,00,000 |
| Interest Rate (% per year) | 7.4 |
| Years | 5 |
| Result | Value |
|---|---|
| Monthly Payout | ₹3,083 |
| Principal | ₹5,00,000 |
| Total Income | ₹1,85,000 |
| Maturity Principal | ₹5,00,000 |
Tips for using the Post Office MIS
- Maximum deposit: ₹9 lakh in a single account and ₹15 lakh in a joint account.
- Interest is taxable at your slab rate; there is no Section 80C benefit.
- Premature closure after one year costs 2% of the deposit (1% after three years).