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Post Office MIS Calculator

See the monthly income from a Post Office Monthly Income Scheme deposit, the total over five years and the cost of closing early.

By Nitin Raturi · Last reviewed

Your worksheet

How to use the Post Office MIS Calculator

See the monthly income from a Post Office Monthly Income Scheme deposit and the cost of closing early.

  1. Enter the deposit, in multiples of ₹1,000.
  2. Choose a single or joint account.
  3. Keep the current rate or enter the rate on your deposit date.
  4. Enter a closing month to see the deduction, or 0 to hold to maturity.

Good to know

  • Interest is paid out each month, so it does not grow the deposit.
  • The address stores your plan for sharing; anyone with the link can read it.

Monthly payouts at the rate fixed on the deposit date, with the five-year term and the deductions for closing early.

Deposit

The single amount you put into the MIS account when you open it.

How to fill it in

  • Enter ₹1,000.00 or more, in multiples of ₹1,000.00.
  • Up to ₹9,00,000.00 in a single account or ₹15,00,000.00 in a joint one.

Example

₹9,00,000.00 pays ₹5,550.00 a month; ₹1,00,000.00 pays ₹616.67.

Keep in mind: The limits cover all MIS accounts you hold, taken together.

Account type

Whether the account is in one name or held jointly.

How to fill it in

  • A joint account can hold up to ₹15 lakh, a single account up to ₹9 lakh.

Example

A joint ₹15,00,000.00 deposit pays ₹9,250.00 a month.

MIS interest rate

The yearly rate in force on the day you deposit. It stays fixed until maturity.

How to fill it in

  • The default is 7.4%, the rate listed for 1 October to 31 December 2026.
  • Enter 0% to 15% to test a different rate.

Keep in mind: Rates for new deposits are reviewed every quarter. Interest is taxable.

Close after

How many whole months you hold the account before closing it. 0 means hold to maturity.

How to fill it in

  • Closing is not allowed in the first 12 months.
  • Up to 36 months, 2% of the deposit is deducted; from 37 months until maturity, 1%.

Example

Closing ₹9,00,000.00 at 12 months deducts ₹18,000.00.

MIS interest every month

₹5,550.00

₹9,00,000.00 at 7.4% pays ₹5,550.00 a month, ₹66,600.00 a year. Over 60 months that is ₹3,33,000.00; the account is held to maturity, so the full deposit comes back.

Months of interest
60
Interest paid out
₹3,33,000.00
Deducted on closure
₹0.00
Paid back on closure
₹9,00,000.00
Net earned
₹3,33,000.00

India Post lists 7.4% for MIS for 1 October to 31 December 2026. The rate for new deposits is reviewed every quarter.

There is no extension. A matured account left open earns only the Post Office Savings Account rate.

Assumes the rate stays fixed from the deposit date to maturity and counts whole months. Interest is paid out, not compounded, and is shown before tax.

ChangelogHow we test this calculatorEmbed this calculator

How this calculator works

  1. Step 1One deposit₹9,00,000.00Up to ₹9 lakh single or ₹15 lakh joint, in multiples of ₹1,000.
  2. Step 2Paid every month₹5,550.00One twelfth of the yearly rate on the deposit.
  3. Step 3Deposit back at 5 years₹9,00,000.00There is no extension.

The Post Office Monthly Income Scheme takes one deposit and pays interest into your savings account every month. The deposit comes back after five years.

Because the interest is paid out, it does not compound in the account. Each month pays one twelfth of the yearly rate on the deposit.

Worked example: the ₹9 lakh single-account maximum

Monthly income on the default deposit
Each month
deposit × rate ÷ 12
Over the term
monthly payout × months held
  1. Deposit₹9,00,000.00
  2. Interest each month₹9,00,000.00 × 7.4% ÷ 12₹5,550.00
  3. Interest each year₹66,600.00
  4. Interest over 5 years (60 months)₹3,33,000.00

A ₹1 lakh deposit pays ₹616.67 a month. A joint account holding the ₹15 lakh maximum pays ₹9,250.00.

Closing early costs money

  • Paid back
  • Interest received
  • At 12 months₹8,82,000.00
  • At 36 months₹8,82,000.00
  • At 37 months₹8,91,000.00
  • At maturity (60 months)₹9,00,000.00
What closing ₹9,00,000.00 early returns

You cannot close in the first year. Up to three years, 2% of the deposit is deducted; after three years, 1%. The interest already paid is kept.

Single or joint

  • Single, ₹9 lakh₹5,550.00The most one person can hold.
  • Joint, ₹15 lakh₹9,250.00Shared between the holders.

The limits apply to all your MIS accounts together. In a joint account, each holder has an equal share of the deposit.

Reading the result and its limits

The monthly figure is exact for a full month at a fixed rate; the calculator counts whole months and shows interest before tax.

Tax on the interest and TDS are not modelled. A matured account that is not closed earns only the Post Office Savings Account rate.

Other income options

MIS pays interest monthly. Other schemes pay quarterly or at maturity.

Seniors can compare the quarterly SCSS calculator. For a bank deposit with monthly or quarterly payouts, use the FD calculator, and for a certificate paid at maturity, the NSC calculator.

Common mistakes

  • Mistake: Expecting the interest to compound.

    Instead: It is paid out monthly; reinvest it, for example in a recurring deposit, if you want growth.

  • Mistake: Planning to close in the first year.

    Instead: Closure is not allowed before 12 months.

  • Mistake: Holding more than ₹9 lakh in your own name.

    Instead: Use a joint account, up to ₹15 lakh, if eligible.

  • Mistake: Leaving a matured account open.

    Instead: It earns only the savings-account rate after maturity.

Methodology and sources

Tests compare the formula with an independent month-by-month walk using the closure rules as India Post publishes them.

The deposit limits, monthly payout, closure deductions and term come from India Post’s scheme page. The rate defaults to 7.4%, the current rate.

The rate for new deposits is reviewed every quarter. This page will be checked when the next rate is announced. Source links, the review date and the financial disclaimer follow.

Read how we test our calculators, or browse more money calculators.

Frequently asked questions

How much does ₹9 lakh earn in Post Office MIS?

At 7.4%, ₹5,550.00 a month, ₹66,600.00 a year and ₹3,33,000.00 over five years, before tax.

How is MIS interest calculated?

Each month pays the deposit × the yearly rate ÷ 12. It is paid out, not compounded. ₹1 lakh at 7.4% pays ₹616.67 a month.

What is the maximum MIS deposit?

₹9 lakh in a single account and ₹15 lakh in a joint account, across all your MIS accounts. A joint ₹15 lakh pays ₹9,250.00 a month.

Can I close MIS early?

Not in the first year. Up to three years, 2% is deducted: closing ₹9 lakh at 12 months deducts ₹18,000.00. After three years, 1% (₹9,000.00).

Can I extend MIS after five years?

No. India Post says no extension is admissible. A matured account left open earns only the Post Office Savings Account rate.

Sources and methodology

The formulas are standard time-value-of-money results. We check every figure against golden values worked out independently, by closed form and by month-by-month simulation; see the methodology.

Written and maintained by Nitin Raturi, a software engineer (about the author). Last reviewed 4 Nov 2026; next review due by . Found an error? Tell us.

Changelog

  • : Initial release.

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