POMIS at a Glance
| Features |
Details |
| Interest Rate |
7.4% p.a., payable each month. |
| Tenure |
5 years |
| Minimum Investment |
₹1,000 |
| Maximum Investment |
₹9 lakh for a single account and ₹15 lakh for a joint account |
Key Features of the Post Office Monthly Income Scheme
The Post Office Monthly Income Scheme comes with several important features, outlined below:
- Deposit Limits: The minimum deposit of ₹1,000 (in multiples of ₹1,000). The maximum limit is set at ₹9 lakhs for a single account and ₹15 lakhs for a joint account.
- Early Closure: Premature exit is permitted after one year with a penalty of 2% within three years and 1% between three and five years.
- Lock-in Period: The account runs for a fixed term of 5 years. In case of the account holder’s demise before maturity, the deposit is refunded per the General Rules, along with applicable interest up to the preceding month.
- Eligibility: An account can be opened by a customer, jointly by up to three adults, by a guardian on behalf of a minor, or by a person of unsound mind. A minor who has completed 10 years of age can also open and operate an account in their own name.
- Taxation: Interest earned on this scheme is fully taxable, though no tax is deducted at source (TDS) by the post office.
Post Office MIS Interest Rates Over the Years
The Post Office Monthly Income Scheme (POMIS) interest rates have changed in line with market conditions and government policies. The table below shows Post Office MIS interest rates for different time intervals effective up to 30th September 2026 (last verified in August):
| Period |
Rate of Interest (%) |
| 15-08-1987 to 23-04-1992 |
12.00% |
| 24-04-1992 to 01-09-1993 |
14.00% |
| 02-09-1993 to 31-12-1998 |
13.00% |
| 01-01-1999 to 14-01-2000 |
12.00% |
| 15-01-2000 to 28-02-2001 |
11.00% |
| 01-03-2001 to 28-02-2002 |
9.50% |
| 01-03-2002 to 28-02-2003 |
9.00% |
| 01-03-2003 to 30-11-2011 |
8.00% |
| 01-12-2011 to 31-03-2012 |
8.2% |
| 01-04-2012 to 31-03-2013 |
8.5% |
| 01-04-2013 to 31-03-2016 |
8.4% |
| 1.4.2016 to 30.9.2016 |
7.8% |
| 1.10.2016 to 31.3.2017 |
7.7% |
| 1.4.2017 to 30.6.2017 |
7.6% |
| 1.7.2017 to 31.12.2017 |
7.5% |
| 1.1.2018 to 30.9.2018 |
7.3% |
| 1.10.2018 to 30.6.2019 |
7.7% |
| 1.07.2019 to 31.03.2020 |
7.6% |
| 1.4.2020 to 30.09.2022 |
6.6% |
| 1.10.2022 to 31.12.2022 |
6.7% |
| 1.1.2023 to 31.03.2023 |
7.1% |
| 1.4.2023 to 30.09.2026 |
7.4% |
Post Office Monthly Income Scheme interest rates effective up to 30th September 2026
Eligibility Criteria For the Monthly Income Scheme
The Post Office Monthly Income Scheme can be availed by the following people:
- Indian Residents & NRIs: Both can open an account.
- Adults: Any adult can open and operate their own account.
- Minors: A parent or guardian can open an account for children aged 10 and above.
How to Open a POMIS Account?
To open a Post Office Monthly Income Scheme Account (offline process), applicants must visit a Post Office branch and submit the required forms and documents.
Required Forms:
- Account Opening Form
- KYC Form (for new customers or updating details)
Mandatory Documents:
- PAN Card
- Aadhaar Card. If not available, any one of the following: Passport, Driving Licence, Voter ID, Job Card issued by MNREGA, or a Letter from the National Population Register.
Additional Requirements:
- For a joint account, KYC documents of all account holders are needed.
- For a minor account, the guardian’s KYC documents are required.
- Proof of retirement benefits is needed for senior citizens applying under VRS.
- Deposits over ₹10 lakh require proof of source of funds as per PMLA 2002.
Other Guidelines:
- Conversion from a joint to a single account or vice versa is prohibited.
- A minor must submit a fresh account form and KYC upon attaining majority.
- Accounts can only be opened via cheque at branch Post Offices.
- NRIs, Trusts, Firms, and Institutions are not eligible to open the account.
Post Office MIS Calculator
A Post Office Monthly Income Scheme calculator, or POMIS Calculator, is an online tool that calculates the exact monthly income you earn on your investment. It applies the current government interest rate to your deposit amount and shows instant payout results.
How to Use a POMIS Calculator
- Enter Deposit Amount: Input the amount you want to invest (up to ₹9 lakh for a single account or ₹15 lakh for a joint account).
- Set the Interest Rate: Enter the latest interest rate (usually pre-filled).
- Select Account Type: Choose between a single or joint account.
- View Monthly Payout: Click calculate to see your guaranteed monthly income and total interest earned over the 5-year tenure.
Post Office Monthly Income Scheme (POMIS) vs Other Savings Schemes
The following table compares the Post Office Monthly Income Scheme (POMIS) with other savings schemes of India Post based on their current interest rates, effective from 01st July 2026 to 30th September 2026 (last verified in August):
| Scheme Name |
Interest Rate (p.a.) |
| Post Office Monthly Income Scheme |
7.40% |
| Post Office Recurring Deposit |
6.70% |
| Post Office Time Deposit (1, 2, 3 years) |
6.90%, 7%, 7.10% respectively |
| Post Office Time Deposit (5 years) |
7.50% |
| National Savings Certificate |
7.70% |
| Senior Citizen Savings Scheme |
8.20% |
| Public Provident Fund |
7.10% |
Post Office Small Savings Schemes interest rates w.e.f. 01st July 2026 to 30th September 2026
Premature Closure of Post Office Monthly Income Scheme
The Post Office Monthly Income Scheme permits premature closure, but certain rules apply depending on the closure time.
- Within 1 Year: Premature closure is not allowed.
- Between 1 and 3 Years: If the account is closed during this period, 2% of the deposit is deducted.
- After 3 Years: If the account is closed any time after 3 years but before maturity, 1% of the deposit is deducted.
- Balance Payment: After deduction, the remaining deposit, along with the interest, is paid to the account holder.
FAQs
-
What is the Post Office Monthly Income Scheme (POMIS) interest rate?
The POMIS interest rate is 7.4% per annum, effective from 01st July, 2026 to 30th September 2026.
-
How can I get ₹5,000 interest monthly in the post office?
To earn ₹5,000 every month from the Post Office Monthly Income Scheme (POMIS) at 7.4% annual interest, you need to invest around ₹8.11 lakh.
-
Which is the best monthly income scheme in the Post Office?
Post Office MIS (POMIS) is ideal for regular monthly payouts, offering 7.4% p.a. over a 5-year lock-in period. For senior citizens seeking higher returns, the Senior Citizens Savings Scheme (SCSS) offers 8.2% p.a., paid quarterly rather than monthly.
-
What is the post office's monthly interest on ₹1 lakh?
At 7.40% per annum, a deposit of ₹1 lakh gives about ₹617 as monthly interest.
-
Which is better, MIS or FD?
MIS gives fixed monthly payouts for five years with a fixed interest rate, while banks provide different
FD interest rates with different tenures and payout choices such as monthly, quarterly, or at maturity. MIS suits people who prefer a regular monthly income, while FDs provide more flexibility.
-
How to invest 5 lakh to get monthly income?
You can invest ₹5 lakh in safe options like the Post Office Monthly Income Scheme (POMIS) or a monthly payout bank FD to get a steady income every month.
-
What will be 1 lakh FD after 5 years in the post office?
Investing ₹1 lakh in a 5-year Post Office Time Deposit (FD) at 7.5% annual interest (compounded quarterly) yields a maturity amount of around ₹1,44,995, earning you ₹44,995 in total interest.
-
Is the Post Office MIS tax-free?
No, the interest earned from the MIS is taxable as per your income tax slab. However, no TDS is deducted by the
Post Office.
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