Post Office MIS Calculator
Monthly income from Post Office MIS at 7.4%, total interest and early closure penalty
Post Office Monthly Income Scheme: 7.4% a year, paid monthly. Rate for October–December 2026, notified on 30 September 2026; the government reviews it every quarter.
| Year | Months paid | Interest that year | Total so far |
|---|---|---|---|
| 1 | 12 | ₹66,600.00 | ₹66,600.00 |
| 2 | 12 | ₹66,600.00 | ₹1,33,200.00 |
| 3 | 12 | ₹66,600.00 | ₹1,99,800.00 |
| 4 | 12 | ₹66,600.00 | ₹2,66,400.00 |
| 5 | 12 | ₹66,600.00 | ₹3,33,000.00 |
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Results are estimates, not financial advice. Rates, charges and rules change, so confirm with your bank, post office or a financial adviser before you decide. Terms of use
How to Use
- Choose a single account (up to ₹9 lakh) or a joint account (up to ₹15 lakh).
- Enter the deposit, in multiples of ₹1,000.
- The interest rate is filled in with the current rate (7.4% for October–December 2026). Change it only if your account was opened at a different rate.
- Choose whether you'll keep it to maturity or close it early, and after how many months.
- Your monthly income, total interest, any penalty and the year-wise interest table update as you type.
What is the Post Office Monthly Income Scheme?
The Post Office Monthly Income Scheme (POMIS or MIS) is a government-backed small savings scheme. You deposit a lump sum once, receive interest every month for five years, and get your deposit back at the end. It suits retired people, anyone living on a fixed income, or anyone who wants a steady monthly payout from savings. It's run by the Government of India through India Post, so your capital is safe, and the rate is locked for the full term when you open the account. This Post Office MIS calculator shows your monthly income and total interest.
Key features (October 2026)
| Feature | Details |
|---|---|
| Interest rate | 7.4% a year, paid monthly (October–December 2026) |
| Minimum deposit | ₹1,000, in multiples of ₹1,000 |
| Maximum deposit | ₹9 lakh single; ₹15 lakh joint (up to 3 adults) |
| Term | 5 years from the date of opening |
| Early closure | Not in the first year; 2% of the deposit deducted if closed after 1 year but before 3 years; 1% if closed after 3 years |
| Tax | Interest taxable at your slab rate; no tax deduction for the deposit |
The Ministry of Finance resets small savings rates every quarter. The rate of 7.4% for October–December 2026 was notified on 30 September 2026 and is unchanged from the previous quarter. Whatever rate applies on the day you open the account stays for all five years, even if later rates change.
How the monthly income is calculated
Total interest (5 years) = monthly income × 60
Interest is simple, not compounded, so the same amount is paid every month. If you leave it sitting there, it doesn't earn extra interest in the MIS account. Link it to your post office savings account and use it, or move it into a Post Office RD to keep it growing.
Worked example
You deposit the single-account maximum of ₹9,00,000 at 7.4%.
- Monthly income = 9,00,000 × 7.4% ÷ 12 = ₹5,550
- Yearly income = ₹66,600; over 5 years = ₹3,33,000
- At maturity you get back the full ₹9,00,000.
A joint account with ₹15,00,000 pays ₹9,250 a month. If you closed the ₹9 lakh account after 30 months, 2% (₹18,000) would be deducted, so you would get back ₹8,82,000 plus the ₹1,66,500 of interest already received.
Things to know
- Limits apply per person across all MIS accounts. In a joint account, each holder's share counts towards their personal ₹9 lakh limit.
- Tax: MIS interest is added to your income. If you're in a higher tax bracket, compare the after-tax return with alternatives such as the Senior Citizens Savings Scheme (for those eligible) or bank FDs.
- After 5 years you can close the account and open a new one at the rate then in force.
- Nomination is allowed; add a nominee when you open the account.
- Accounts can be opened at any post office. Check current rules on indiapost.gov.in or at your post office.