Post Office Monthly Income Scheme Calculator
Calculate Post Office MIS returns.
Investment Amount
Interest Rate
Total Value
₹1,37,000
POMIS Calculator – Post Office Monthly Income Scheme helper
Post Office Monthly Income Scheme (POMIS) is a low-risk saving scheme that offers steady monthly interest payments.
The POMIS Calculator shows the monthly income you can generate from your lump sum investment.
What is a Post Office MIS Calculator?
It computes the monthly interest payout.
It is ideal for conservative investors looking for a fixed monthly income.
How does this Post Office MIS Calculator work?
The calculator uses the following formula:
Monthly Interest = (P * r) / 12
- P = Principal Investment Amount
- r = Annual Interest Rate (decimal)
- Interest is calculated simply on the principal.
- The payout is made monthly.
- The principal is returned after 5 years.
How to use this Post Office MIS Calculator effectively
- Enter your investment amount.
- Enter the current POMIS rate.
- The tool displays the monthly income you will receive.
Commonly asked questions
What is POMIS?
Post Office Monthly Income Scheme (POMIS) is a government-backed savings scheme that offers a guaranteed monthly income on your investment.
What is the current interest rate?
The interest rate is reviewed quarterly by the government. Currently, it is around 7.4% p.a.
Who can open a POMIS account?
Any resident individual can open an account singly or jointly (up to 3 adults). A minor above 10 years can also open an account in their own name.
What is the maximum investment limit?
The maximum limit is ₹9 Lakh for a single account and ₹15 Lakh for a joint account.
What is the minimum investment?
The minimum investment required to open a POMIS account is ₹1,000.
What is the maturity period?
The maturity period of the scheme is 5 years from the date of opening.
Is the interest taxable?
Yes, the interest earned from POMIS is taxable as per your income tax slab. There is no TDS deducted.
Can I withdraw prematurely?
Yes, premature withdrawal is allowed after 1 year. A penalty of 2% is deducted if withdrawn between 1-3 years, and 1% if withdrawn between 3-5 years.
Is nomination facility available?
Yes, you can nominate a beneficiary at the time of opening the account or later.
Can I reinvest the monthly interest?
You can set up an auto-credit facility to your savings account or open a Recurring Deposit (RD) with the monthly interest.
Can a minor open an account?
Yes, a guardian can open an account on behalf of a minor, or a minor aged 10 years or above can open and operate the account.
Is the monthly income guaranteed?
Yes, since it is a government-backed scheme, the returns are guaranteed and risk-free.
Can I open multiple POMIS accounts?
Yes, you can open multiple accounts as long as the total investment across all accounts does not exceed the prescribed limits.
Where can I open a POMIS account?
You can open a POMIS account at any Head Post Office or Sub-Post Office in India.
Can I transfer my account?
Yes, the account can be transferred from one Post Office to another anywhere in India.
Does the interest rate change during the tenure?
No, the interest rate remains fixed for the entire 5-year tenure once the account is opened.
What happens if I don't withdraw the monthly interest?
The unwithdrawn monthly interest does not earn any additional interest.
Can NRIs invest in POMIS?
No, Non-Resident Indians (NRIs) are not eligible to invest in the Post Office Monthly Income Scheme.
What documents are required?
Identity proof, address proof, and passport-sized photographs are required to open the account.
Is there any tax benefit on investment?
No, the principal amount invested in POMIS does not qualify for any tax deduction under Section 80C.