Post Office MIS Calculator

Investment Amount

Interest Rate


Lock In Period


Monthly Income

Post Office Monthly Income Scheme

The Post Office Monthly Scheme, also known as Post Office MIS or POMIS, is a government-backed deposit scheme that offers monthly returns in the form of interest payouts. It is a sovereign fixed-income investment vehicle. The government reviews and fixes the interest rate of the scheme on a quarterly basis. This scheme is open to both joint and individual investors, and minors aged 10 years and above.

In the Union Budget 2023, the deposit limit for individual accounts was increased from ₹4.5 Lakh to ₹9 Lakh. Similarly, the deposit limit for joint accounts was raised to ₹15 Lakh from ₹9 Lakh. Until 31st March 2023, the savings scheme is offering returns at 7.1% to its investors. However, if the interest paid every month is not claimed by a depositor, such an amount will not earn any additional interest. 

What is the Post Office MIS Calculator?

The Post Office Monthly Income Scheme (MIS) Calculator is a tool that helps you calculate the interest you can earn on your savings if you invest when you Post Office Monthly Income Scheme (MIS). 

The Post Office MIS Calculator tool can be helpful in planning your savings and investment goals as you can easily calculate the returns on your investment before actually investing your money. 

How Does the Post Office MIS Calculator Work?

The MIS calculator is an easy-to-use tool that would help you calculate the interest earned on your investments. You can quickly get an estimate of your monthly interest earnings using the POMIS Calculator from Navi.

Here’s what you would need to do:

Select the principal amount

You can select or enter the amount you plan to invest.

Select the tenure

Now, choose your preferred investment tenure.

Select the interest rate

Enter the interest rate prevalent at the time of using this calculator. Currently, the interest rate offered on the POMIS scheme is 7.1% p.a. You can check out this web page to find out the current POMIS interest rate:

Once you have entered all the values, the Navi Post Office MIS calculator would display your monthly returns almost instantly.

What Is the Formula for Calculating the Returns From the Post Office Monthly Income Scheme?

It is quite simple to figure out the interest received from a post office monthly income scheme using the formula. The same formula has also been incorporated into the post office monthly income scheme calculator to arrive at the results.

The post office monthly income scheme (POMIS) monthly interest = Amount Invested * Annual Interest Rate/12

Let’s say Mr. X invested ₹4.5 lakh in the POMIS scheme in February 2023. Currently, the rate of interest on the Post Office Monthly Income Scheme is 7.1%. Now, using the formula, we can easily calculate the monthly interest he will earn for the next 5 years, assuming the rate of interest remains unchanged. So, the monthly interest is 4,50,000 * 7.1%/12 = ₹2,662. Therefore, over a period of 5 years or 60 months, Mr. X will earn ₹2,662*60 = ₹1,59,720 in interest payouts.

How Can a Post Office MIS Calculator Help You?

Here are some of the advantages of Navi’s Post Office Monthly Income Scheme Calculator:

User-friendly design

Easy-to-use calculator with a clean interface for quick and easy navigation

Saves time

Just select the basic details like principal amount, tenure and interest rate and get the results within a few seconds!

Financial planning

Get an estimate of your monthly returns, and plan and manage your investments and finances accordingly.

Frequently asked questions

Yes, in order to invest in this scheme, one needs to invest a minimum amount of ₹1,000, while the maximum one can invest is ₹4.5 lakh in an individual account and ₹9 lakh in a joint account. The Union Budget 2023 has proposed that the individual and joint account deposit limits be raised to ₹9 lakh and ₹15 lakh, respectively.
The maturity term for the POMIS account is 5 years from the date of opening of account. Deposits are not allowed to be withdrawn in the first year of investment. On premature closure of a POMIS account between the 1st and the 3rd year from the date of opening, 2% will be deducted from the principal and the remaining will be paid. If the account is prematurely closed after 3 years but before 5 years from the time of opening of the account, 1% will be deducted from the principal amount and the rest will be paid.
Between January 1, 2023 and March 31, 2023, the rate of interest for the post office monthly income scheme has been fixed at 7.1% per annum, payable on a monthly basis.
Yes, the interest that is earned from the post office monthly income scheme is taxable. Even though there is no TDS (tax deducted at source) deducted for the interest so earned, one is required to declare this income and pay the applicable tax on it.
No, POMIS doesn’t offer any tax rebate. If you don’t withdraw your monthly payouts after the lock-in period is over, your money just sits idle without earning any interest.
The scheme has a provision to choose and appoint a nominee against the account who shall receive the amount so accumulated, in case of an unfortunate demise.
Yes, premature withdrawal is allowed after 1 year, but before 3 years subject to a deduction of 2% of the deposit, and after 3 years there’s a deduction of 1% from the deposit.

You can easily calculate your monthly interest earnings from the Post Office Income Scheme using the Post Office MIS Calculator from Navi. Just enter your investment amount as ₹1 Lakh, interest rate as 7.1% (valid until 31st March, 2023), and lock-in period as 5 years. Your interest earnings would be ₹592 every month, which means your interest earnings over 5 years would be ₹35,520.

Disclaimer : Navi does not guarantee accuracy, completeness or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained/data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User’s own risk.


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