Post Office MIS Calculator
Calculate Post Office Monthly Income Scheme returns. 7.4% p.a., 5-year tenure, max ₹9L (single) / ₹15L (joint) with monthly interest payout.
Post Office MIS Details
₹
Min: ₹1,000, Max: ₹9L (single) / ₹15L (joint)%
Current: 7.4% (FY 2024-25)years
Fixed 5-year tenure📬
Enter Post Office MIS amount
About Post Office MIS (Monthly Income Scheme)
Post Office MIS is a low-risk investment scheme offering guaranteed monthly income. Ideal for retirees, homemakers, and anyone seeking regular income with capital safety.
Key Features
- Interest Rate: 7.4% p.a. (FY 2024-25, revised quarterly)
- Tenure: 5 years (fixed, no extension)
- Min Deposit: ₹1,000 | Max: ₹9L (single), ₹15L (joint)
- Interest Payout: Monthly (simple interest, not compounded)
- Principal: Returned at maturity (interest already paid)
- Safety: 100% government-backed
- No TDS: Interest below ₹50,000/year (for senior citizens)
Account Types
- Single: Max ₹9,00,000
- Joint (2 adults): Max ₹15,00,000 (payable to either/survivor)
- Joint (3 adults): Max ₹15,00,000 (all must be joint holders)
- Minor: By guardian (till 18, then transferred)
- Multiple Accounts: Allowed (total within max limit)
Interest Payment
- Monthly: Simple interest credited every month
- Auto-credit: To linked savings account
- No Compounding: Interest on principal only (not on interest)
- First Payment: One month after opening date
- Example: Account opened 10th Jan → 1st payment 10th Feb
Premature Closure
- Before 1 year: Not allowed
- After 1 year: Allowed, 2% penalty on principal
- After 3 years: Allowed, 1% penalty on principal
- On Death: No penalty, interest paid till date
- Interest Adjustment: Already paid interest deducted from principal
Tax Implications
- No 80C Benefit: Investment NOT eligible for tax deduction
- Interest Taxable: As "Income from Other Sources"
- TDS: No TDS for senior citizens (if < ₹50K/year)
- TDS for Others: 10% if interest > ₹40,000/year
- Form 15G/15H: Submit to avoid TDS (if income below taxable limit)
Example Calculation
Deposit: ₹9,00,000 (max single) @ 7.4% for 5 years
| Monthly Interest: | ₹5,550 |
| Yearly Interest: | ₹66,600 |
| Total Interest (5y): | ₹3,33,000 |
| Principal Returned: | ₹9,00,000 |
| Total Received: | ₹12,33,000 |
How to Open MIS Account
- Visit any post office with ID, address proof, PAN
- Fill MIS application form
- Payment via cash/cheque/DD
- Link savings account for auto-credit of interest
- Passbook issued
- Nomination mandatory
MIS vs Other Options
- MIS vs SCSS: SCSS 8.2% vs MIS 7.4%; SCSS for 60+, MIS for all ages
- MIS vs Bank FD: Similar rates, but MIS monthly payout vs FD lumpsum
- MIS vs NSC: NSC 7.7% with 80C, MIS 7.4% without 80C; MIS monthly income
- MIS vs PPF: PPF 7.1% with tax-free interest, MIS taxable; MIS monthly vs PPF maturity
Advantages
- ✅ Regular monthly income (like pension)
- ✅ Government-backed safety
- ✅ Higher rate than savings account (7.4% vs 3-4%)
- ✅ No market risk (guaranteed returns)
- ✅ Joint account allowed (up to ₹15L)
- ✅ Premature withdrawal after 1 year
Disadvantages
- ❌ No 80C tax benefit
- ❌ Interest fully taxable (not tax-free like PPF)
- ❌ Lower returns than equity/mutual funds
- ❌ No compounding (simple interest only)
- ❌ Penalty on premature withdrawal
- ❌ Cannot extend tenure beyond 5 years
Who Should Invest?
- Retirees needing regular monthly income
- Homemakers seeking financial independence
- Conservative investors avoiding market risk
- Those with surplus cash not needed for 5 years
- People in low tax brackets (interest taxable)
Important Points
- Interest credited monthly (not accumulated)
- Passbook shows monthly credit entries
- Rate fixed for 5 years (not revised during tenure)
- Nomination can be changed anytime
- Lost passbook: Duplicate issued with indemnity
- Transferable to another post office
Common Use Cases
- Retirement Income: Supplement pension with guaranteed monthly income
- Parked Funds: Keep FD/lumpsum idle money earning regular income
- Gift to Parents: Open in parent's name for their monthly expenses
- Education Fund: Monthly income for tuition/coaching fees
- Rent Replacement: Generate monthly cash flow similar to rent
Post Office MIS Calculator for Indian users
The Post Office MIS Calculator helps you turn a financial question into a clear number before you apply for a product, invest money, file taxes or compare alternatives. Instead of relying on rough mental math, enter your actual values and review the result, cost, return or tax impact in a structured way.
This page is designed as a practical SEO and user landing page: the calculator comes first, followed by the formula, a worked example, comparison context, frequently asked questions and links to related MONEX MINT tools. That structure helps users finish the calculation and gives search engines enough context to understand the page beyond the widget.
For best results, run at least two scenarios. Use a conservative rate for planning, a realistic market or lender rate for comparison, and a stress case to see what happens if interest rates, returns, salary, taxes or inflation move against you.
How it's calculated
Maturity Value = Contributions + Accrued Interest Interest depends on scheme rate, tenure and deposit rules
- Contribution — Amount deposited under the scheme
- Rate — Applicable scheme interest or return assumption
- Tenure — Scheme holding period or retirement period
Worked example for Post Office MIS Calculator
- Enter the main amount, such as loan amount, deposit, investment, income or transaction value.
- Add the rate, tenure, slab, contribution or withdrawal value used by the calculator.
- Review the calculated result and compare it with at least one alternate scenario.
- Use the related calculators below to test adjacent decisions before finalizing.
Result: The final result should be used as a decision-support estimate, then verified against the lender, fund house, tax rule, scheme document or official statement before action.
Post Office MIS Calculator planning checklist
| Step | What to check | Why it matters |
|---|---|---|
| Inputs | Use realistic values, not rounded guesses | Small input changes can materially alter the final result |
| Rate | Confirm whether the rate is annual, monthly, flat, reducing or scheme-specific | Wrong rate type is the most common source of bad estimates |
| Tenure | Compare short and long periods | Longer horizons can reduce cash flow but increase total cost or uncertainty |
| Tax/fees | Include taxes, fees, charges or inflation where relevant | The net result matters more than the headline number |
| Next action | Save the result and compare with related calculators | A single number is useful; a comparison is decision-ready |
Tips and best practices
- Use current official rates or lender quotes where possible.
- Compare best case, base case and conservative case before acting.
- Do not judge a financial product only by EMI, maturity value or tax saved; look at total cost and risk.
- Recalculate whenever rates, salary, tax slabs or scheme rules change.
- Use the sitemap and calculator hub to move between related tools quickly.
Frequently asked questions
What is the Post Office MIS Calculator?
The Post Office MIS Calculator is a free India-focused tool that estimates the key number for this government savings calculators topic using standard financial formulas and the values you enter.
How accurate is the Post Office MIS Calculator?
The result is accurate for the formula and assumptions shown on the page. Final bank, tax, fund or government-scheme values can vary because of fees, policy rules, rounding, rate changes and eligibility conditions.
Can I use this calculator for Indian financial planning?
Yes. MONEX MINT calculators are built for Indian users and use Indian currency formatting, common India-specific assumptions and related tools for loans, investments, tax, banking and government savings.
What details should I enter?
Enter the amount, rate, tenure, contribution or income values that match your real situation. If you are comparing products, run the calculator twice with each offer side by side.
Does this replace professional financial advice?
No. Use the calculator as a planning and comparison aid. For final tax filing, loan signing, investment selection or legal decisions, confirm the numbers with the institution or a qualified professional.
Which related calculators should I use next?
Use the related calculators on this page to compare alternate scenarios, such as EMI vs prepayment, SIP vs lumpsum, old vs new tax regime, or nominal return vs inflation-adjusted return.
Related calculators
MONEX MINT calculators are educational planning tools. Results are estimates and may differ from final figures issued by banks, tax departments, AMCs, employers, registrars or government scheme providers.