Post Office MIS Calculator
Enter the amount you deposit in the Post Office Monthly Income Scheme. You get the income paid to you every month at the current 7.4% rate, what's left after tax, and what the payouts grow to if you send them to an RD.
By Hardik Vegad, founder of WealthGamma · Last updated
You get every month
₹5,550/ month
For 5 years at 7.4% a year. Your ₹9,00,000 comes back in full at the end.
Interest every year
₹66,600
Total interest in 5 years
₹3,33,000
Each month after tax
₹4,396
If payouts go to an RD
₹3,96,080
| Deposit | Every month | Every year |
|---|---|---|
| ₹1L | ₹617 | ₹7,400 |
| ₹3L | ₹1,850 | ₹22,200 |
| ₹5L | ₹3,083 | ₹37,000 |
| ₹9L | ₹5,550 | ₹66,600 |
What is the post office MIS interest rate now?
The post office MIS interest rate is 7.4% a year for accounts opened from October to December 2026. The interest is paid to you every month.
The Ministry of Finance reviews the rate every quarter. It has stayed at 7.4% since 1 April 2023. Whatever the rate is on the day you open the account, it stays fixed for the 5 years.
What is the post office MIS interest rate history?
The rate has moved between 6.6% and 8.5% since 2012. It was lowest from April 2020 to September 2022, and rose three times in a row to reach 7.4% in April 2023.
| Opened from | To | Interest rate |
|---|---|---|
| 1 April 2023 | 31 December 2026 | 7.4% |
| 1 January 2023 | 31 March 2023 | 7.1% |
| 1 October 2022 | 31 December 2022 | 6.7% |
| 1 April 2020 | 30 September 2022 | 6.6% |
| 1 July 2019 | 31 March 2020 | 7.6% |
| 1 October 2018 | 30 June 2019 | 7.7% |
| 1 January 2018 | 30 September 2018 | 7.3% |
| 1 July 2017 | 31 December 2017 | 7.5% |
| 1 April 2017 | 30 June 2017 | 7.6% |
| 1 October 2016 | 31 March 2017 | 7.7% |
| 1 April 2016 | 30 September 2016 | 7.8% |
| 1 April 2013 | 31 March 2016 | 8.4% |
| 1 April 2012 | 31 March 2013 | 8.5% |
Rates are from the Ministry of Finance's quarterly notifications, listed by the National Savings Institute.
How is post office MIS income calculated?
It is simple interest on your deposit, split into twelve equal payments a year:
Monthly income = Deposit × Interest rate ÷ 12
Yearly interest = Deposit × Interest rate
Total interest = Yearly interest × 5
Worked through for ₹9,00,000 at 7.4%:
- ₹9,00,000 × 7.4% = ₹66,600 a year
- ₹66,600 ÷ 12 = ₹5,550 every month
- ₹66,600 × 5 = ₹3,33,000 over the full term
How much monthly income will your deposit give?
At 7.4%, the ₹9L limit of a single account pays ₹5,550 a month, and the ₹15L limit of a joint account pays ₹9,250 a month.
| Deposit | Every month | Every year | In 5 years |
|---|---|---|---|
| ₹1,00,000 | ₹617 | ₹7,400 | ₹37,000 |
| ₹3,00,000 | ₹1,850 | ₹22,200 | ₹1,11,000 |
| ₹5,00,000 | ₹3,083 | ₹37,000 | ₹1,85,000 |
| ₹9,00,000 | ₹5,550 | ₹66,600 | ₹3,33,000 |
| ₹15,00,000 (joint) | ₹9,250 | ₹1,11,000 | ₹5,55,000 |
An older account pays less. ₹9,00,000 opened at 6.6% pays ₹4,950 a month, and at 7.1% it pays ₹5,325.
What if you put the MIS interest into an RD?
Your interest starts earning interest. MIS pays simple interest, so a payout you leave in a savings account hardly grows. Sending each month's ₹5,550 into a post office RD at 6.7% turns ₹3,33,000 of payouts into ₹3,96,080 after 5 years. That's ₹63,080 extra.
It only makes sense if you don't need the monthly income to live on. The post office RD calculator shows the RD side year by year.
How is post office MIS interest taxed?
The interest is added to your income and taxed at your slab rate. What you keep from ₹5,550 a month:
| Tax slab | Each month after tax | Each year after tax |
|---|---|---|
| 0% | ₹5,550 | ₹66,600 |
| 5% | ₹5,261 | ₹63,137 |
| 20% | ₹4,396 | ₹52,747 |
| 30% | ₹3,818 | ₹45,821 |
- No TDS. The post office does not deduct tax at source, so you declare the interest and pay the tax yourself.
- No Section 80C. The deposit gets no deduction.
Check the current rules before you file, or ask a tax professional.
Post office MIS or SCSS: which pays more?
SCSS pays more, 8.2% against 7.4%, but it is only for people aged 60 or above and it pays every quarter. MIS is open to any adult and pays every month.
| Post office MIS | SCSS | |
|---|---|---|
| Interest rate | 7.4% | 8.2% |
| Paid | Every month | Every quarter |
| Who can open | Any adult | Age 60 and above |
| Most you can deposit | ₹9L single, ₹15L joint | ₹30L per person |
| Section 80C | No | Yes, old regime |
Many retirees use both: SCSS first, up to its limit, then MIS. The SCSS calculator works out the SCSS side.
Does MIS income keep up with inflation?
No. The payout is the same rupee amount every month, while prices keep rising. With 6% inflation, the ₹5,550 a month from the example buys what ₹4,147 buys today by the fifth year.
To plan an income that rises with prices, see the SWP calculator.
What are the rules of post office MIS?
- Term. 5 years.
- Amount. From ₹1,000, in multiples of ₹1,000, up to ₹9L in a single account or ₹15L in a joint account.
- Who. A resident adult, up to three adults jointly, or a guardian for a minor.
- Joint accounts. Every holder is treated as owning an equal share, and one person's total across all accounts can't cross ₹9L.
- Payout. Interest is paid at the end of every month from the date of opening, usually into your post office savings account.
- Early closure. Not in the first year. After that, 2% of the deposit is deducted up to 3 years, and 1% after 3 years.
Check the current rules at your post office before you open an account.
What does this post office MIS calculator leave out?
It shows income at one rate for the full 5 years. It doesn't count:
- Your other income. It decides your real tax slab.
- Early closure. The deduction if you close the account before maturity.
- RD rate changes. The RD figure assumes one RD opened today for all the payouts.
Frequently asked questions
What is the post office MIS interest rate now?
7.4% a year for accounts opened from October to December 2026, paid out every month. The rate has been 7.4% since 1 April 2023.
How much monthly income does ₹9 lakh give in post office MIS?
₹5,550 a month at 7.4%, which is ₹66,600 a year. A joint account with ₹15 lakh pays ₹9,250 a month.
How is post office MIS interest calculated?
Monthly income = deposit × interest rate ÷ 12. It is simple interest, not compounded. ₹5 lakh at 7.4% pays ₹3,083 a month.
What is the maximum deposit in post office MIS?
₹9L in a single account and ₹15L in a joint account. In a joint account each holder is treated as owning an equal share.
Is post office MIS interest taxable?
Yes. The interest is added to your income and taxed at your slab rate. The post office does not deduct TDS on it, and the deposit gets no Section 80C deduction.
Can I close a post office MIS account before 5 years?
Not in the first year. Between 1 and 3 years, 2% of the deposit is deducted. Between 3 and 5 years, 1% is deducted.
Can I put the MIS interest into an RD?
Yes, and many people do. Sending each month's payout into a post office RD makes the interest earn interest. On ₹9 lakh, that turns ₹3,33,000 of payouts into ₹3,96,080 after 5 years.