Post Office MIS Calculator
Work out the fixed monthly income from a Post Office Monthly Income Scheme deposit.
Maximum ₹9,00,000 in a single account or ₹15,00,000 in a joint account.
Official rate for the October–December 2026 quarter: 7.4%. Fixed for 5 years.
Quick examples
On a deposit of ₹9,00,000 at a fixed 7.4%.
What each result means
Monthly income
What it is: Interest paid into your savings account every month.
Your value: ₹5,550
Regular income — not compounded.
Yearly income
What it is: Twelve monthly payments.
Your value: ₹66,600
Taxable in your hands.
Total income over 5 years
What it is: All sixty payments.
Your value: ₹3,33,000
Simple interest, paid out.
Deposit returned at maturity
What it is: Your original deposit, paid back after 5 years.
Your value: ₹9,00,000
The deposit does not grow.
Year-by-year breakdown
| Year | Income this year (₹) | Income received to date (₹) |
|---|---|---|
| 1 | ₹66,600 | ₹66,600 |
| 2 | ₹66,600 | ₹1,33,200 |
| 3 | ₹66,600 | ₹1,99,800 |
Interest is paid out every month and is not compounded. The deposit is returned after 5 years.
Showing the first 3 of 5 years. Want charts, formulas and the full schedule? Get the detailed PDF.
What this calculator does
The Post Office Monthly Income Scheme (MIS) pays you interest every month for 5 years on a one-time deposit, then returns the deposit. The rate is fixed on the day you open the account.
What your result means
MIS is built for steady monthly income. Since interest is paid out, the total is simple interest on your deposit.
Formula
1. Monthly income
Symbols
- I
- Monthly income (₹)
- P
- Deposit (₹)
- r
- Annual rate (decimal)
Why this formula works
The annual interest is split into twelve equal monthly payments.
Unit check
₹ = ₹ × (no unit). ✓
Worked example
P = ₹9,00,000, r = 7.4%: I = ₹5,550.
Common mistakes
Compounding monthly income — it is paid out, not reinvested.
Working for your numbers
- I = ₹9,00,000 × 7.4% ÷ 12 = ₹5,550
- Yearly = ₹5,550 × 12 = ₹66,600
- 5 years = ₹5,550 × 60 = ₹3,33,000
Frequently asked questions
Does the MIS rate change during the 5 years?
No. The rate on your opening date (7.4% for the October–December 2026 quarter) is fixed.
Is MIS income taxable?
Yes, the interest is taxable. There is no Section 80C benefit on MIS.
Can I close it early?
After 1 year, with a deduction: 2% of the deposit if closed before 3 years, 1% between 3 and 5 years.
Does this calculator tell me whether to invest?
No. It is an educational projection using the official rate and standard scheme rules. It does not consider your goals, taxes or other options. For a personal decision, speak to a SEBI-registered investment adviser.
Symbols and assumptions
- P
- Deposit (₹)
- r
- Annual rate (%)
- A single deposit held for 5 years.
- Interest is paid monthly and not reinvested.
- Tax is not deducted in these figures.
- Figures are in Indian Rupees (₹).
Sources and review
Reviewed 2026-10-05 · Next review 2026-12-31
- National Savings Institute — small savings schemes and current rates, Ministry of Finance
- India Post — Post Office Savings Schemes
- Department of Economic Affairs, Ministry of Finance — small savings rate notifications
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How it works
The Post Office Monthly Income Scheme pays interest every month on your deposit at a rate set by the government, and returns the full deposit at the end of five years. The capital does not grow, only the monthly payout matters.
The formula
Monthly income = Deposit × Rate ÷ 12- Deposit
- Amount placed in the scheme
- Rate
- Annual interest rate notified by the government
Worked example
₹9,00,000 at 7.4% pays about ₹5,550 every month for five years, with the ₹9,00,000 returned at the end.
Pro tips
- Limits are ₹9 lakh for a single account and ₹15 lakh for a joint account.
- Interest is taxable, there is no TDS, so declare it yourself.
Common mistakes
- Expecting the deposit itself to grow, it does not.
- Withdrawing early, which carries a penalty.
Go deeper
Concepts to explore
Related guides
Institutional grade calculations are illustrative and for educational wealth architecture. Results do not constitute investment advice.