May 25, 2024

Post Office Monthly Income Scheme Calculator

Post office MIS is a great investment plan where an individual can withdraw their investment amount, including the total interest amount, at the end of the plan’s tenure. However, investing money blindly can never be a good choice. With a post office monthly income scheme calculator, you can create a solid post office MIS investment plan and have a clear idea of what you’re getting into. We will go through the features of POMIS and show if you’re eligible to invest in it. We will also show what makes the post office MIS calculator great and what formula it uses to calculate the final estimations. So, without further ado, let’s dig in.


Features of Post Office Monthly Income Scheme


Before we talk about the post office MIS calculator, you need to learn more about the post office MIS first. Let’s take a look at some of the most important features of post office MIS:

  • Regular Interest Payment: In this scheme, the interest earned against the principal is deposited to the investor’s POMIS account every month. You will never have to worry about not receiving the returns on your investments.
  • Low-risk Investment: This particular investment scheme can be considered one of the safest investment options in India. You get guaranteed returns in the form of monthly payments and have a practically 0% risk of losing your money.
  • Lock-in: The post office monthly income scheme comes with a lock-in feature, which locks your initial investment for a period of 5 years. You can only touch the principal investment amount along with the interest amount earned on it after five years are over. Of course, if you want, you can reinvest the money in the same scheme once again.
  • Number of Accounts: You can create any number of POMIS accounts as you want. However, for each individual account, you can only invest up to Rs. 4.5 lakhs. In the case of a joint account, the maximum investment limit is Rs. 9 lakhs. 
  • Investment Amount Limitations: To open a POMIS account, you must invest at least Rs. 1,000. Every increase in investment amount must also be multiples of Rs. 1,000. On the other hand, the maximum amount allowed to be invested in an individual account is limited to Rs. 4.5 lakhs, as we have mentioned before.
  • Premature Withdrawal: You can withdraw your money after one year of investment. However, you will be penalized for it. If you withdraw your money before three years, you will receive a 2% penalty on your deposit. In case you withdraw the money after three years, you will have to pay a 1% penalty on your deposit. Of course, you will receive your interest on the original investment according to the relevant POMIS interest rates.


Post Office MIS Interest Rates


As the POMIS is a guaranteed investment scheme with a 0% chance of losing your money, you will receive your returns on investment every month according to the interest earned on the total money. Of course, the interest you earn depends on the interest rate of the post office MIS. The interest rate for this scheme is decided by the Finance Ministry of the Central Government of India. The interest rate can be changed by the Ministry of Finance every quarter of a year. Currently, the interest rate applicable is 6.70% per year, w.e.f 1st October 2022 to 31st December 2022.


What is the Post Office Monthly Income Scheme Calculator?


The post office MIS interest rate calculator allows any individual to calculate how much interest they would earn every month on their POMIS investment. This is a simple tool that will help you figure out your finances and help you get a realistic estimation of your future gains through the POMIS scheme.

The calculation formula of this calculator is simple.

The amount of money you can earn every month on your investment = (Total investment amount * Annual interest rate) / 12

However, you need to remember that the estimation you get now might not be relevant after a few months. As the Ministry of Finance of the Central Government of India updates the annual interest rate of the scheme every three months, the amount you earn every month will also change.


How Can a Post Office MIS Calculator Help You?


Now, you might ask, “How can a post office MIS scheme calculator help me?” Let us show you how this calculator can help you.

  • Financial Planning: You can use this calculator to plan your finances carefully. The calculator shows you how much you need to invest in getting a desired monthly return, making it easier to plan your future finances.
  • It’s Easy to Use: Using this calculator is a very simple task. All you have to do is enter the investment amount and the current annual interest rate to see how much you will be earning every month.
  • Accessible, Accurate, and Time-saving: The POMIS calculator is accessible to everyone, and it gives pretty accurate results. This way, you don’t have to make manual calculations, which saves a lot of time.


Eligibility Criteria for Opening a POMIS Account


POMIS is a safe and risk-free investment plan backed by the Indian Government. But who is eligible to open a POMIS account and start investing? Here are the general eligibility criteria for opening a POMIS account:

  • The account holder of the POMIS account must be an Indian resident.
  • Every POMIS account holder should be at least ten years old or older. In case an account holder is less than 18 years old, the parents can open the POMIS account on the minor’s behalf.
  • The individual must be willing to invest at least Rs. 1,000.




If you are looking for a risk-free investment option, the post office MIS can be a great choice. It lets you earn a monthly income on your investment without putting your initial investment amount into any sort of risk. However, it’s difficult to plan your finances without knowing how much you can expect to receive at the end of your POMIS investment tenure. With a post office monthly income scheme calculator, you can easily solve these worries. Use the calculator to get accurate estimations so you can invest your money without any worries.


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