MIS Calculator
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What This Tool Does
This MIS calculator estimates the fixed monthly income you’d receive from a Post Office Monthly Income Scheme (MIS) investment, based on your investment amount and the current interest rate.
You can also use this SGPA Calculator
How It’s Calculated
Monthly Income = Investment Amount × Annual Interest Rate ÷ 12
As of the July–September 2026 quarter, the Post Office MIS interest rate is 7.4% per annum, a rate that’s held steady since April 2023. This rate is reviewed by the Finance Ministry every quarter, but once you invest, your rate stays fixed for the full 5-year term.
Worked example: ₹5,00,000 invested at 7.4%.
- Monthly income: 5,00,000 × 0.074 ÷ 12 = 37,000 ÷ 12 = ₹3,083 per month (approximately)
For the maximum single-account investment of ₹9 lakh, this works out to about ₹5,550 a month; a joint account maxed at ₹15 lakh yields about ₹9,250 a month.
Edge Cases and Special Rules
- Investment limits: Minimum ₹1,000, in multiples of ₹1,000; maximum ₹9 lakh for a single account, ₹15 lakh for a joint account.
- Fixed 5-year term: The scheme runs for exactly 5 years, after which the full principal is returned along with any final month’s interest.
- No Section 80C benefit: Unlike PPF or NSC, MIS investments don’t qualify for tax deduction, and the monthly interest is fully taxable as income — though the post office doesn’t deduct TDS at source.
- Unclaimed interest doesn’t compound: If a monthly payout isn’t claimed, it doesn’t earn any additional interest sitting unclaimed — it’s simple, non-compounding monthly interest by design.
Post Office MIS vs. SCSS vs. Bank Monthly-Income FDs
These often get confused since they all promise “monthly income,” but they’re different products. Post Office MIS pays the same 7.4% rate to every investor regardless of age. The Senior Citizens Savings Scheme (SCSS) is a separate, dedicated scheme specifically for those 60 and older, currently paying a notably higher 8.2% (though disbursed quarterly, not monthly). Bank monthly-income FDs aren’t literally called “MIS” — they’re a fixed deposit variant where interest is paid out monthly instead of at maturity, with each bank setting its own separate rate that can differ meaningfully from the post office scheme.
Who Uses This
- Retirees and senior citizens wanting predictable monthly income from savings
- Conservative investors prioritizing capital safety over growth
- Anyone supplementing household income with a fixed, low-risk monthly payout
- People comparing MIS against SCSS or bank monthly-income FD options
MIS vs. FD/RD
These differ in how — and when — you receive your returns. MIS pays interest out every month as income, using simple (non-compounding) interest on your original deposit, which then remains untouched until maturity. A standard FD or RD, by contrast, typically compounds interest internally and pays out only at maturity, unless you specifically choose a monthly-payout FD variant. MIS is built specifically for those who want the income now, rather than a larger lump sum later.
FAQ
What is the current Post Office MIS interest rate?
7.4% per annum for the July–September 2026 quarter, unchanged since April 2023.
Is there a special MIS rate for senior citizens?
No — MIS pays the same rate to all investors; SCSS is a separate scheme for seniors with its own higher rate.
What’s the minimum and maximum MIS investment?
Minimum ₹1,000; maximum ₹9 lakh for a single account, ₹15 lakh for a joint account.
Is Post Office MIS interest taxable?
Yes, it’s fully taxable as income, though no TDS is deducted by the post office at source.
Can I withdraw my MIS investment before 5 years?
Premature withdrawal is generally permitted after a minimum holding period, subject to a penalty — check current terms with your post office before committing.
Try It Above
Enter your investment amount, the current interest rate, and lock-in period in the MIS calculator above to get an instant monthly income estimate. Figures are estimates only — confirm the exact current rate and terms with India Post before investing.