Post Office Monthly Income Scheme Calculator

This is a government sponsored savings scheme that aims to provide financial security to the individuals in form of guaranteed monthly income. Under this scheme the investors receives monthly returns as interest payment. The post office monthly income scheme is offered by the Indian Post Office or Department of Post (DOP). For the current quarter the applicable interest rate on POMIS is 6.6%.

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On maturity of the POMIS, the individual can choose to reinvest the amount into the scheme or withdraw the amount. The Post office monthly income scheme is a lucrative option of investment for investors who want to avail regular or additional income from their investments. The post office monthly income scheme calculator can be used to compute the monthly interest on investment made towards the scheme.

Read further to know in detail about Post Office Monthly Income Scheme calculator.

Benefits of Using Post Office Monthly Income Scheme Calculator

Here are some of the benefits of using Post Office MIS calculator.

  • Determine the Monthly Interest

    The post office MIS calculator helps to determine the applicable monthly interest an individual can earn on the investment made towards the POMIS.

  • Easy to Use

    The POMIS calculator is very easy to use. All you need to do is to enter the investment amount and the current interest rate; the calculator will display the monthly interest you can earn from the investment.

  • Financial Planning

    The Post Office Monthly Income Scheme calculator helps to plan the investment. An individual can compare the results from Post Office MIS calculator to other monthly income scheme and make an informed choice. Moreover, by estimating the interest amount one can also plan their expenses and income effectively.

  • Saves Time

    You can get the results in POMIS calculator within seconds and as it is available freely online. Thus it saves both time and money. The POMIS calculator is reliable, fast, easy and available.

How Does Post Office Monthly Income Scheme Calculator Works?

An individual can calculate the interest from post office monthly income scheme by using a simple formula.

POMIS Monthly Interest = Amount Invested *Annual interest rate/12

Let’s take an example,  Mr Akash invested Rs 4.5 lakhs at 6.60% interest. The monthly interest would be.

4,50,000*(0.066/12)= INR 2,475

Thus the monthly interest is INR 2,475 and the total interest Mr Akash earns in 60 months would be INR1, 48, 500.

In post office monthly income scheme the investors can invest a lump sum amount and gain monthly income in form of interest for five years. The investors can use post office monthly income scheme calculator to compute the monthly income.

As there are different monthly income schemes available in the market, it is important to compare these schemes and choose the investment option as per one’s requirement and suitability.

Features of Post Office Monthly Income Scheme

Let’s take a look at the features of Post Office Monthly Income Scheme.

  • Regular Payments

    The POMIS offers a guaranteed regular monthly income to the investors.

  • Low Risk

    As a government backed savings scheme, POMIS is considered as one of the safest options of investment. The returns are guaranteed under the scheme as monthly payments. Also, this is a 0% risk option of investment.

  • Lock-in Period

    The POMIS can be opened for tenure of 5 years. Moreover, as per one’s own choice the investors can reinvest into the scheme.

  • Single Account and Joint Account

    An individual above the age of 10 years can open individual or joint account. A maximum of 3 adults can open a joint account. Also, each joint account member will have equal share.

  • Maximum & Minimum Investment

    An individual can make a minimum investment of Rs 1,500 to open the account whereas, the maximum investment one can make towards the scheme is Rs 4.5 lakh.

  • Number of Accounts

    There is no restriction on the number of accounts one can hold. However, the maximum limit on investment for an individual account is INR 4.5 lakh and for a joint account is INR 9 Lakh.

  • Minor

    A minor above the age of 10 years can open post office monthly income scheme account. The maximum limit of investment for a minor is INR 3 lakh. After attaining the age of 18 years the account can be converted to an adult account.

  • Premature Withdrawal

    The individual can make premature withdrawal after one year of opening the account with a withdrawal fees. The fee is charges based on the time of redemption. A 1% withdrawal fees is charges for making withdrawal after completion of three years but before 5 years. A 2% fees is charged for withdrawal made before three years but after one year.

  • Transferable

    The POMIS account can be transferred anywhere in India from one post office to another.

  • Maturity

    On maturity of the scheme, the account holder can choose to withdraw or reinvest the amount into the scheme. In case the maturity amount is not withdrawn or reinvested then the account will continue to earn interest up to 2years from the date of maturity.


Past 5 Year annualised returns as on 01-04-2024

^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.

Tax benefit is subject to changes in tax laws. Standard T&C Apply
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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