Post Office MIS Calculator — Monthly Income Scheme 2026

Last updated: 29 April 2026 Reviewed by Deepa Krishnan, CFP

The **Post Office Monthly Income Scheme (POMIS)** pays interest every month on a fixed deposit at 7.4% p.a. (Q1 FY 2026-27). It is backed by the Government of India, making it risk-free. Maximum deposit is ₹9 lakh for a single account and ₹15 lakh for a joint account. This is popular among retirees seeking regular monthly income.

Deposit Amount (₹) Max ₹9 lakh (single), ₹15 lakh (joint account)

Interest Rate (% p.a.) Current POMIS rate: 7.4% (Q1 FY 2026-27)

Monthly Interest Income —

Annual Interest Income —

Total Interest (5 Years) —

Maturity Amount (Principal Returned) —

View Year-by-Year Breakdown

Real-World Examples — 2026

₹9 lakh POMIS — maximum single account deposit

₹9 lakh in POMIS at 7.4% p.a. generates ₹5,550/month (₹66,600/year) for 5 years. Total interest: ₹3,33,000. Principal returned at maturity. Ideal for retirees needing predictable monthly income.

Joint POMIS account — ₹15 lakh deposit

A couple with ₹15 lakh joint POMIS at 7.4% gets ₹9,250/month (₹1,11,000/year). Over 5 years, total interest = ₹5,55,000. Monthly payout is credited directly to the post office savings account.

Frequently Asked Questions

What is Post Office Monthly Income Scheme (POMIS)?

POMIS is a 5-year post office scheme that pays fixed monthly interest. Current rate is 7.4% p.a. Maximum deposit: ₹9 lakh (single), ₹15 lakh (joint). Interest is paid monthly to the linked post office savings account. The principal is returned at maturity.

Is POMIS interest taxable?

Yes. POMIS interest is fully taxable as 'income from other sources' at your income tax slab rate. TDS is not deducted at source, but you must declare the interest in your ITR. POMIS does not qualify for Section 80C deduction.

Can POMIS be closed before 5 years?

Yes, premature closure is allowed after 1 year. If closed before 3 years: 2% deduction from principal. If closed after 3 years: 1% deduction. The penalty makes early closure costly — invest only if you can hold for 5 years.

Is the Post Office MIS Calculator free?

Yes, the Post Office MIS Calculator on CalcPhi is completely free with no registration required.

Are my inputs stored?

No. All calculations run in your browser. We do not store any financial data.

Can I use the Post Office MIS Calculator on mobile?

Yes. CalcPhi is fully mobile-optimised and works on all modern smartphones.