MIS Calculator

Calculate Post Office Monthly Income Scheme returns, POMIS interest, monthly income planning with comprehensive insights

Min: ₹15,000, Max: ₹9,00,000 (single), ₹15,00,000 (joint)
Current POMIS rate: 7.4% (Updated quarterly by Govt)
POMIS has fixed 5-year lock-in period

POMIS Calculation Results

₹0 Monthly Income
₹0 Annual Interest
₹0 Total Interest (5 years)
Principal + Interest: ₹0
Post-Tax Monthly Income: ₹0
Effective Annual Yield: 0%

Scheme Comparison Analysis

MIS Best Option for You
₹0 MIS Total Returns
₹0 Best Alternative
Return Difference: ₹0
Key Advantage: --
Recommendation: --
In today's purchasing power
India average: 4-6%

Retirement Planning Results

₹0 Required MIS Corpus
₹0 Monthly Savings Needed
₹0 MIS Monthly Income
Years to Retirement: 0
Inflation-Adjusted Goal: ₹0
Strategy Recommendation: --

How to Use the MIS Calculator

Our comprehensive MIS calculator helps you analyze Post Office Monthly Income Scheme returns and plan your retirement income strategy:

📮 POMIS Calculator

Calculate monthly income from Post Office Monthly Income Scheme using formula: Monthly Income = (Principal × Annual Interest Rate) ÷ 12. POMIS offers guaranteed monthly income for 5 years with principal safety. Current interest rate: 7.4% annually (reviewed quarterly). Investment limits: Minimum ₹15,000, Maximum ₹9 lakh (single account), ₹15 lakh (joint account). Example: ₹5 lakh investment at 7.4% = ₹3,083 monthly income. Features: Government backing, fixed tenure, monthly payout on 1st of every month directly to bank account. Ideal for retirees, conservative investors, and those needing regular income flow.

⚖️ MIS vs Other Schemes Comparison

Compare POMIS with other fixed-income options based on returns, liquidity, and safety. Bank FDs: Higher liquidity but lower rates (6-7%), taxable interest. NSC: Higher returns (6.8%) but no periodic income, 5-year lock-in. SCSS: Higher rate (8.2%) for senior citizens, quarterly payouts, age restriction (60+). PPF: Tax-free returns (7.1%) but 15-year lock-in, annual investment needed. Debt Funds: Market-linked returns (6-9%) but capital risk, better tax efficiency after 3 years. MIS advantages: Guaranteed returns, monthly income, government backing, simple process. Choose based on age, risk tolerance, income needs, and tax situation.

👴 Retirement Income Planning

Plan retirement corpus using MIS as anchor investment for guaranteed income. Strategy: Create retirement corpus through SIPs/investments, deploy part in MIS for monthly income, maintain liquidity for emergencies, diversify across instruments for optimal returns. Corpus calculation: Monthly Income Need × 12 ÷ MIS Rate = Required MIS Investment. Example: ₹50,000 monthly need = ₹81 lakh MIS corpus (at 7.4%). Multi-bucket approach: 40-50% in MIS for base income, 30-40% in FDs/SCSS for flexibility, 10-20% in liquid funds for emergencies. Consider inflation impact, healthcare costs, and life expectancy in planning.

MIS Investment Best Practices: Open account before interest rate cuts to lock higher rates, maintain joint account for higher investment limit (₹15 lakh vs ₹9 lakh), reinvest monthly income if not needed immediately for compounding, use for tax-free income if total income below taxable limit, plan maturity reinvestment strategy in advance, consider premature closure penalty (1% on principal), maintain nominees and proper documentation, use for conservative portfolio allocation in retirement years, combine with SCSS for higher overall retirement income.

Frequently Asked Questions

What is Post Office Monthly Income Scheme (MIS)?
Post Office MIS (POMIS) is a government-backed savings scheme offering guaranteed monthly income for 5 years. You invest a lump sum (₹15,000 to ₹9 lakh for single account, ₹15 lakh for joint) and receive monthly interest directly in your bank account. Current rate is 7.4% annually, paid monthly. Principal amount is returned after 5 years. It's ideal for retirees, senior citizens, and conservative investors seeking regular income with complete safety. No market risk involved as it's government-guaranteed. Interest rates are reviewed quarterly but locked for existing investments.
How is MIS interest calculated and when is it paid?
MIS interest is calculated using simple interest formula: Monthly Interest = (Principal × Annual Rate) ÷ 12. For example, ₹6 lakh at 7.4% = ₹3,700 monthly. Interest is paid on the 1st of every month directly to your linked bank account. No compounding as interest is paid out monthly. Total interest over 5 years = Monthly Interest × 60 months. At maturity, you receive the original principal back. Interest is taxable as per your income tax slab, but TDS is not deducted if annual interest is below ₹40,000 (₹50,000 for senior citizens).
What are the eligibility and investment limits for MIS?
Eligibility: Indian residents aged 10 years and above can open MIS account. NRIs are not eligible. Investment limits: Minimum ₹15,000, maximum ₹9 lakh for single account, ₹15 lakh for joint account. Minors can invest up to ₹3 lakh. Multiple accounts allowed but total investment cannot exceed limits. Account types: Single, joint (up to 3 adults), or minor accounts. Required documents: Identity proof, address proof, photographs, and PAN card for investments above ₹50,000. Account can be opened at any post office branch across India with easy transfer facility between branches.
Can I withdraw money before maturity from MIS?
Premature withdrawal is allowed after 1 year but with penalty. Penalty structure: 2% of principal if withdrawn in 2nd/3rd year, 1% penalty if withdrawn after 3 years. No premature closure in first year except in case of account holder's death or court order. Interest earned up to withdrawal date is paid. Monthly interest payments stop from withdrawal month. In case of death, nominee can close account without penalty. Account cannot be used as security for loans. For emergency liquidity needs, consider keeping additional funds in savings account or liquid investments alongside MIS.
How does MIS compare with other fixed-income investments?
MIS vs Bank FD: MIS offers monthly income vs quarterly/annual in FDs, government backing vs bank guarantee, 7.4% vs 6-7% FD rates. MIS vs SCSS: SCSS offers 8.2% but only for 60+ age, quarterly payments vs monthly. MIS vs NSC: NSC gives higher returns (6.8%) but no periodic income, 5-year lock-in both. MIS vs PPF: PPF offers tax-free returns (7.1%) but 15-year lock-in vs 5 years, annual contributions needed. MIS vs Debt Funds: Debt funds offer potentially higher returns (7-9%) but market risk vs guaranteed returns. Choose MIS for guaranteed monthly income, government safety, and moderate returns with complete principal protection.