Post Office Monthly Income Scheme Calculator
Calculate monthly interest income from Post Office MIS deposits
About Post Office Monthly Income Scheme (MIS)
- Current interest rate: 7.4% p.a. (as of Q1 2024-25), payable monthly
- Tenure: 5 years
- Maximum deposit: ₹9 lakh for single account, ₹15 lakh for joint account
- Minimum deposit: ₹1,000 and in multiples of ₹1,000
- Interest is paid monthly — can be auto-credited to savings account
- Premature closure: After 1 year — 5% penalty on deposit; between 1-3 years — 2% penalty; after 3 years — 1% penalty
- Interest income is taxable as per your income tax slab
- No Section 80C benefit: MIS deposits do not qualify for tax deduction
- Can be opened by single adult, joint (up to 3 adults), or minor through guardian
About Post Office MIS Calculator
The Post Office Monthly Income Scheme (MIS) Calculator computes the monthly interest income from MIS deposits, which currently offer 7.4% per annum payable monthly. MIS is ideal for retirees and investors seeking regular monthly income with guaranteed returns. The maximum investment limit is ₹9 lakh for single accounts and ₹15 lakh for joint accounts. The scheme has a 5-year tenure and qualifies as a safe, government-backed investment.
The Post Office MIS provides a predictable monthly income stream, making it popular among senior citizens and risk-averse investors. Interest is paid on the first business day of each month directly to the post office savings account. Premature closure is allowed after 1 year with a penalty. The interest income is taxable, and TDS at 10% is deducted if annual interest exceeds ₹50,000 from all post office schemes. Our calculator helps you determine the monthly income for various deposit amounts for FY 2026-27.
Key Features
- Monthly income computation at 7.4% p.a.
- Single and joint account calculation
- Maximum deposit limit compliance check
- Premature closure penalty computation
- Annual interest total and tax liability
Frequently Asked Questions
What is the Post Office MIS interest rate for 2026?
The Post Office Monthly Income Scheme interest rate for Q1 FY 2026-27 is 7.4% per annum, payable monthly. On a maximum single account deposit of ₹9 lakh, the monthly income would be approximately ₹5,550. For a joint account with ₹15 lakh deposit, the monthly income would be approximately ₹9,250.
What is the maximum investment in Post Office MIS?
The maximum investment in Post Office MIS is ₹9 lakh for a single account and ₹15 lakh for a joint account. These limits were increased from ₹4.5 lakh and ₹9 lakh respectively in Budget 2023. An individual can open multiple accounts, but the total investment across all accounts cannot exceed the prescribed limits.
Stay Updated!
Join our community for latest tax updates, GST news & finance tips