Post Office MIS Calculator

Calculate your Post Office Monthly Income Scheme (POMIS) monthly payout, payout dates, after-tax income and early closure cost.

₹
From ₹1,000 up to ₹9 lakh in a single account, in multiples of ₹1,000.
Sets your payout dates and the official rate. Interest is paid every month on the same date as your deposit.
Interest rate
7.4% p.a. Official
7.4% is the official rate for accounts opened from October to December 2026, locked for the full term.

Monthly payout

–/ month

Enter a deposit to begin.

Deposit₹0
Interest per year₹0
Total interest over 5 years₹0
Deposit returned at maturity₹0
Total received over 5 years(interest + deposit)₹0

Post Office MIS Interest After Tax & TDS

MIS interest is taxed at your slab rate. Pick your age, regime and slab to see what you keep each month.

Are you 60 or older?

At 60 or older, TDS starts only above ₹1 lakh of interest a year (₹50,000 below 60). Under the old regime you also get an interest deduction of up to ₹50,000.

Tax regime

Your tax slab

MIS interest is taxed at your slab rate plus 4% cess.

Monthly payout after tax

Estimate only: slab rate plus 4% cess on MIS interest, without rebates, surcharge or other income.

– / month

Pick your tax slab to see this.

Tax on MIS interest a year–
TDS a year None

Post Office MIS Payout Schedule

MIS pays the same amount every month, on the same date as your deposit, for 60 months.

First payout–
Every month on–
Last payout–
Payouts60

Payouts paid a day early

A payout that falls on a Sunday is paid on the Saturday before. Bank and post office holidays can also bring a payout forward.

    Interest by financial year

    MIS interest received in each financial year
    Financial yearPayoutsInterest

    Tax and TDS are counted per financial year (April to March), so your first and last years are smaller.

    View all 60 payout dates
    #Due onInterestTotal so far

    Due dates on a Sunday are shown on the Saturday before. The last payout is made with your deposit at maturity.

    Post Office MIS Premature Withdrawal: Penalty & Payout

    An MIS account cannot be closed in its first year. After that you can close it early, and a deduction applies based on how long it has been open. Pick when you would close to see what you get back.

    months
    2 years after the deposit date.
    • Before 1 yearNot allowed
    • 1 to 3 years2% of deposit
    • After 3 years1% of deposit
    Closing date–
    Interest you keep₹0
    Deduction₹0
    Deposit paid back₹0
    Net earned₹0

    Post Office MIS Formula & Calculation

    MIS pays simple interest every month. One formula gives every payout.

    Monthly payout

    M = P × r ÷ 12

    Total interest over 5 years

    M × 60

    P
    Deposit amount, from ₹1,000 to ₹9 lakh (single) or ₹15 lakh (joint)
    r
    Annual interest rate, locked on your deposit date (7.4% from October to December 2026)
    M
    Monthly payout, paid on the same date as your deposit every month, rounded to the nearest rupee

    Your calculation

    Based on ₹9,00,000 at 7.4%

    1. Interest per year₹9,00,000 × 7.4%₹66,600
    2. Monthly payout₹66,600 ÷ 12₹5,550
    3. Total interest over 5 years₹5,550 × 60 months₹3,33,000

    No compounding. Interest is paid out every month, not added back, so your deposit stays the same and comes back in full at maturity.

    Rate lock. The rate on your deposit date applies for all 5 years, even if the government changes it later.

    Will this monthly income cover your expenses?

    A Finnovate advisor can check your MIS payouts against your monthly expenses and plan the rest of your income.

    Retirement Planning Advisory

    What Is a Post Office MIS Calculator?

    A Post Office MIS calculator shows the interest your Monthly Income Scheme deposit pays every month, the date each payout arrives and what you get back after 5 years.

    7.4%Interest a year, Oct to Dec 2026
    ₹9LMaximum in a single account
    ₹15LMaximum in a joint account
    MonthlyInterest paid every month for 5 years
    ₹1,000Minimum deposit

    How to Use the Post Office MIS Calculator

    1

    Choose single or joint account

    This sets your limit: ₹9 lakh single, ₹15 lakh joint.

    2

    Enter your deposit amount

    ₹1,000 up to your limit, in multiples of ₹1,000. Type it, slide or tap a preset.

    3

    Set your deposit date

    It sets the day you are paid each month and the official rate.

    4

    Check the interest rate

    Filled in for you: 7.4% for new accounts. Different on your passbook? Tap Edit.

    5

    Check tax and read your results

    Pick your age, regime and slab under MIS Interest After Tax & TDS. Then see payout dates, early-closure cost and the full calculation.

    Post Office MIS Interest Rate 2026

    7.4%a year

    MIS rate for October to December 2026

    Unchanged since 1 April 2023 (Ministry of Finance memo, 30 September 2026). Your rate stays locked for all 5 years.

    Since the scheme began in 1987, the rate has ranged from 6.6% to 14%. It is reviewed every quarter, and a change applies only to new accounts.

    View the MIS rate history since 1987
    Post Office MIS interest rate history since 1987
    PeriodRate (% a year)
    1 Apr 2023 to 31 Dec 20267.4
    1 Jan 2023 to 31 Mar 20237.1
    1 Oct 2022 to 31 Dec 20226.7
    1 Apr 2020 to 30 Sep 20226.6
    1 Jul 2019 to 31 Mar 20207.6
    1 Oct 2018 to 30 Jun 20197.7
    1 Jan 2018 to 30 Sep 20187.3
    1 Jul 2017 to 31 Dec 20177.5
    1 Apr 2017 to 30 Jun 20177.6
    1 Oct 2016 to 31 Mar 20177.7
    1 Apr 2016 to 30 Sep 20167.8
    1 Apr 2013 to 31 Mar 20168.4
    1 Apr 2012 to 31 Mar 20138.5
    1 Dec 2011 to 31 Mar 20128.2
    1 Mar 2003 to 30 Nov 20118.0
    1 Mar 2002 to 28 Feb 20039.0
    1 Mar 2001 to 28 Feb 20029.5
    15 Jan 2000 to 28 Feb 200111.0
    1 Jan 1999 to 14 Jan 200012.0
    2 Sep 1993 to 31 Dec 199813.0
    24 Apr 1992 to 1 Sep 199314.0
    15 Aug 1987 to 23 Apr 199212.0

    Source: National Savings Institute, MIS interest rate since inception, and Department of Economic Affairs, small savings notifications.

    How Much Monthly Income Can You Get From Post Office MIS?

    At 7.4%, every ₹1 lakh pays ₹617 a month, about ₹7,400 a year.

    Post Office MIS income at 7.4% a year, swipe to see more
    DepositEvery monthEvery yearOver 5 years
    ₹1 lakh₹617₹7,404₹37,020
    ₹3 lakh₹1,850₹22,200₹1,11,000
    ₹5 lakh₹3,083₹36,996₹1,84,980
    ₹9 lakh (single account limit)₹5,550₹66,600₹3,33,000
    ₹15 lakh (joint account limit)₹9,250₹1,11,000₹5,55,000
    ₹18 lakh (couple, two single accounts)₹11,100₹1,33,200₹6,66,000
    MIS pays the same amount every month for 60 months. Interest is rounded to the nearest rupee, and figures are before tax. Your deposit comes back in full at maturity.

    Post Office MIS Eligibility and Deposit Limits

    Who can open an MIS account

    A single adult

    Any resident individual aged 18 or above.

    Up to 3 adults jointly

    A joint account can have two or three holders, up to ₹15 lakh.

    A child aged 10 or above

    Can open and run an account in their own name.

    A guardian

    For a child under 10 or a person of unsound mind.

    Open at any post office with one deposit; you cannot add money later. Official rules: National Savings Institute’s MIS scheme.

    ₹9 lakh single, ₹15 lakh joint

    ₹9 lakhPer person, across all your MIS accounts. Any excess is refunded.
    ₹15 lakhIn one joint account of two or three adults.

    You can hold more than one account. Your share of a joint account (a half or a third) counts towards your own ₹9 lakh.

    Who cannot invest

    • Non-resident Indians (NRIs) and foreign nationals
    • Hindu undivided families (HUFs)
    • Companies, firms, trusts and other institutions
    • More than three people in one joint account
    • A child under 10 on their own (a guardian must open it)

    Post Office MIS Maturity Rules

    1. Day 1You deposit. The rate is locked for 5 years.
    2. Month 1First payout, then one every month on the same date.
    3. Year 1Early closure allowed from now, at a 2% deduction.
    4. Year 3The deduction drops to 1%.
    5. Year 5Maturity. Your deposit comes back with the last payout.
    MIS cannot be extended. Plan where the money goes before the maturity date.

    Reinvesting at maturity

    Open a new MIS at the rate then, or SCSS at 8.2% if you are 60 or older.

    Payouts on a Sunday or holiday

    Paid on the working day before. Deposits on the 29th to 31st are paid on the month’s last day.

    Unclaimed interest

    Earns nothing extra. Have it credited to your post office savings account.

    If the account holder dies

    The account can be closed and the deposit paid to the nominee or heirs, with interest up to the previous month.

    Is Post Office MIS Interest Taxable?

    Yes, MIS interest is taxed at your slab rate, and the deposit gets no deduction. The rules now sit under the Income-tax Act, 2025 (from 1 April 2026).

    Post Office MIS tax rules under the Income-tax Act, 2025
    RuleNew section (old section)Old regimeNew regime
    Interest taxed at your slab rateIncome from other sourcesIncome from other sourcesYesYes
    Deduction on the amount you depositSection 123 (was 80C)Section 123 (was 80C)Not allowedNot allowed
    Deduction on interest for senior citizens, up to ₹50,000Section 153(1)(b) (was 80TTB)Section 153(1)(b) (was 80TTB)AllowedNot allowed
    TDS once interest crosses ₹50,000 a year (₹1 lakh at 60+)Section 393 (was 194A)Section 393 (was 194A)YesYes

    Tax on MIS interest

    Taxed at your slab plus 4% cess. With the new regime’s rebate on income up to ₹12 lakh, many people pay none.

    ₹50,000 interest deduction for senior citizens

    Section 153(1)(b), old regime only. Shared with your FD, SCSS and savings interest.

    TDS on MIS interest and Form 121

    10% TDS once post office interest crosses ₹50,000 a year, from about ₹6.8 lakh in MIS. At 60+ the limit is ₹1 lakh. No tax due? Submit Form 121, which replaced 15G and 15H.

    TDS is adjusted against your final tax. More in our guide to income tax for senior citizens in India.

    Is Post Office MIS a Good Option for Monthly Income?

    Where MIS works well

    • Safety: backed by the Government of India
    • Monthly income: the same amount on the same date
    • Fixed rate: 7.4%, locked for 5 years
    • Open to all ages: from ₹1,000, unlike SCSS

    Where MIS falls short

    • Taxable interest: and no deduction on the deposit
    • ₹9 lakh cap: ₹5,550 a month at most per person
    • Flat income: no compounding, while costs rise
    • Lower rate than SCSS: 7.4% against 8.2% if you are 60+

    Post Office MIS vs SCSS vs FD

    Post Office MIS compared with SCSS and a bank fixed deposit, swipe to see more
    Post Office MISSCSSBank FD
    Interest rate7.4%, fixed for 5 years8.2%, fixed for 5 yearsSet by each bank
    PayoutMonthlyQuarterlyMonthly, quarterly or at maturity
    Who can openAny resident, any age60+, or 55+ if retiredAnyone
    Maximum deposit₹9 lakh single, ₹15 lakh joint₹30 lakh per personNo limit
    SafetyGovernment of IndiaGovernment of IndiaInsured up to ₹5 lakh per bank
    Deduction on depositNoYes, old regimeOnly 5-year tax-saver FDs

    Aged 60 or more? SCSS pays more; see the SCSS calculator and our comparison of SCSS vs Post Office MIS vs bank FD.

    The MIS + RD strategy

    Don’t need the monthly income yet? Put each MIS payout into a 5-year post office recurring deposit (RD) at 6.7%, compounded every quarter. Your interest then earns interest.

    MIS payouts reinvested in a 5-year post office RD at 6.7%, swipe to see more
    MIS depositInto RD every monthRD at maturityExtra from RDTotal after 5 years
    ₹5,00,000₹3,083₹2,20,021₹35,041₹7,20,021
    ₹9,00,000₹5,550₹3,96,080₹63,080₹12,96,080
    ₹15,00,000₹9,250₹6,60,134₹1,05,134₹21,60,134
    1. Step 1Open MIS with a post office savings account, and have the interest credited to it.
    2. Step 2Open a 5-year RD for your monthly payout, ₹3,083 on ₹5 lakh.
    3. Step 3Ask for a standing instruction to pay the RD from your savings account, or pay it yourself each month.
    About 7.6% a year, not the 8% to 9% often claimed. RD interest is taxable too, and the RD matures about a month after the MIS. Check the RD side with our RD & FD calculator.

    Common Mistakes With Post Office MIS

    Leaving interest unclaimed

    It earns nothing. Credit it to your savings account or an RD.

    Assuming interest compounds

    MIS pays simple interest. The maturity amount is just your deposit back.

    Crossing ₹9 lakh across accounts

    The limit covers all your accounts, including your share of joint ones.

    Choosing joint by default

    Two single accounts let a couple invest ₹18 lakh, against ₹15 lakh joint.

    Forgetting Form 121

    No tax due? Submit it every April to avoid TDS.

    Ignoring SCSS at 60+

    SCSS pays 8.2% against 7.4%, with a much higher limit.

    Don’t treat MIS as the whole plan. A flat income loses value as prices rise, so keep some money in assets that grow.

    FAQs

    How much will I get every month on ₹9 lakh in Post Office MIS?
    At 7.4%, a ₹9 lakh deposit pays ₹5,550 every month. That is ₹66,600 a year and ₹3,33,000 over 5 years, before tax. Your ₹9 lakh comes back in full at maturity.

    What is the monthly income on ₹15 lakh in a joint MIS account?
    At 7.4%, a ₹15 lakh joint account pays ₹9,250 a month, ₹1,11,000 a year and ₹5,55,000 over 5 years, before tax. ₹15 lakh is the most a joint account can hold.

    Can husband and wife open separate MIS accounts?
    Yes. Each spouse can open a single account with up to ₹9 lakh, so a couple can invest ₹18 lakh and get ₹11,100 a month. That is more than one joint account allows (₹15 lakh). Your share of any joint account counts towards your own limit.

    Can I withdraw from Post Office MIS before 5 years?
    Not in the first year. After that you can close the whole account; partial withdrawals are not allowed. Closing within 3 years costs 2% of the deposit, and after 3 years 1%. Interest already paid to you is not taken back.

    What happens to my MIS account after 5 years?
    The account matures and your deposit is paid back with the last month’s interest. MIS cannot be extended. To keep earning, open a new account at the rate in force then, or move the money to another option.

    Is the Post Office MIS interest rate fixed for the full term?
    Yes. The rate on the day you open the account applies for all 5 years, even if the government changes the rate later. Quarterly rate revisions affect only new accounts.

    Does Post Office MIS interest compound?
    No. MIS pays simple interest every month, and interest you leave unclaimed earns nothing extra. To make it grow, move each payout into a recurring deposit or another investment.

    Is MIS interest taxable for senior citizens?
    Yes, at your slab rate. Under the old regime, senior citizens can deduct up to ₹50,000 of interest a year under section 153(1)(b) (was 80TTB), shared with FD, SCSS and savings interest. TDS applies only once interest crosses ₹1 lakh a year.

    Can NRIs invest in Post Office MIS?
    No. MIS is open only to resident individuals. NRIs, Hindu undivided families, companies and trusts cannot open an account.

    Is Post Office MIS safe?
    Yes. MIS is a Government of India savings scheme run through India Post, so both your deposit and your monthly interest are backed by the government.

    Useful next tools

    SCSS Calculator Aged 60 or more? See what the Senior Citizen Savings Scheme pays at 8.2%. RD & FD Calculator Plan an RD for your MIS payouts, or compare a fixed deposit. SWP Calculator Plan a monthly income from mutual funds alongside your MIS payouts. Retirement Calculator Check whether your savings can fund your whole retirement. Income Tax Calculator See your tax under the old and new regimes with your MIS interest. Financial Calculators Explore every free Finnovate planning tool in one place.
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