# Post Office Monthly Income Scheme Calculator: 7.4% Payout > Post office monthly income scheme calculator at the current 7.4% rate. See your monthly payout, 5-year interest, tax at your slab and early closure value. Source: https://trykosh.com/tools/post-office-monthly-income-scheme-calculator Free tool - Government schemes # Post Office Monthly Income Scheme (POMIS) calculator See the fixed monthly income from the Post Office Monthly Income Scheme at 7.4%, for a single or joint account, and what you get back if you close it early. Rules checked 25 October 2026Free - no sign-upRuns in your browser Monthly income INR 5,550 INR 66,600 a year for 5 years - principal back at maturity Total interest (5 years)**INR 3,33,000** Tax a year at your slab**INR 6,926** Monthly after tax**INR 4,973** Principal **INR 9,00,000**Interest over 5 years **INR 3,33,000** If you close early Close after Deduction You get back Less than 1 year Not allowed n/a 1 to 3 years 2% of deposit INR 8,82,000 3 to 5 years 1% of deposit INR 8,91,000 5 years (maturity) None INR 9,00,000 Interest is paid monthly and doesn't compound. It is fully taxable at your slab; post offices don't deduct TDS on MIS, so include it in your return. ## Upload your statement and Kosh does this for you. Upload your statements and Kosh keeps your PPF, EPF, NPS and deposits in one view, with reminders before every deposit and maturity date. [Start free](/signup?via=tool-post-office-monthly-income-scheme-calculator) ## How the post office MIS calculator works In the Monthly Income Scheme you deposit a lump sum once and get interest paid every month for 5 years, then your deposit back. The monthly payout is deposit x rate / 12. At 7.4% (October to December 2026), INR 9 lakh pays INR 5,550 a month. The rate is locked for the full 5 years at the rate on the day you open the account. Interest is simple, not compounded, and is credited to your post office savings account, from where many people move it into a recurring deposit. The maximum is INR 9 lakh in a single account and INR 15 lakh in a joint account (up to three adults), across all your MIS accounts. The minimum is INR 1,000. Interest is fully taxable at your slab, and there's no 80C benefit. The post office doesn't deduct TDS on MIS interest, so include it in your return and in advance tax if needed. Monthly income = deposit x 7.4% / 12 Term 5 years, principal returned at the end ## Worked example: The Guptas put INR 15 lakh into a joint MIS Ramesh and Usha Gupta, retired in Varanasi, open a joint MIS account with INR 15 lakh, the joint maximum. They receive INR 9,250 every month, INR 1,11,000 a year, for 5 years, and get the INR 15 lakh back at the end. At a 5% slab with cess, tax is about INR 5,772 a year, leaving INR 8,769 a month. Closing after 3 years would cost them 1% of the deposit. Monthly income INR 9,250 INR 1,11,000 a year for 5 years - principal back at maturity Total interest (5 years)**INR 5,55,000** Tax a year at your slab**INR 5,772** Monthly after tax**INR 8,769** Principal **INR 15,00,000**Interest over 5 years **INR 5,55,000** Interest is paid monthly and doesn't compound. It is fully taxable at your slab; post offices don't deduct TDS on MIS, so include it in your return. [Load this example into the calculator ->](?holding=joint&amount=1500000&slab=5#calculator) ## Good to know - Early closure: not allowed in the first year; 2% of the deposit is deducted between years 1 and 3, and 1% between years 3 and 5. - Interest not withdrawn earns no extra interest, so set up an auto-credit to a savings account or RD. - On maturity you can reinvest in a fresh MIS at the rate then in force. There's no automatic extension. - Your share of a joint account counts toward your personal INR 9 lakh limit, so a couple can't hold INR 15 lakh jointly and another INR 9 lakh each in single accounts. ## Frequently asked questions What is the post office MIS interest rate in 2026? 7.4% a year, paid monthly, for accounts opened between October and December 2026. The rate is fixed for the 5-year term. How much monthly income will I get on INR 9 lakh in POMIS? INR 5,550 a month at 7.4%, or INR 66,600 a year. Over 5 years that's INR 3.33 lakh in interest, and you get the INR 9 lakh back at maturity. Is post office MIS interest taxable? Yes. It's added to your income and taxed at your slab. There's no TDS and no 80C deduction for the deposit. What is the maximum limit in POMIS? INR 9 lakh for a single account and INR 15 lakh for a joint account. In a joint account each holder has an equal share for this limit. ## Sources and assumptions - [Department of Economic Affairs: small savings rates](https://dea.gov.in/) - [India Post savings schemes](https://www.indiapost.gov.in/) Rules and rates last checked on 25 October 2026. Results are estimates for planning and education, not tax, legal or investment advice. Kosh is an educational financial planning tool by Primedepth Labs. It is not a SEBI-registered investment adviser and does not offer personalised investment advice, hold your money or execute trades. Markets carry risk; read scheme documents carefully and consult a registered adviser before acting.