Can I close my post office monthly income scheme (MIS) prematurely?

You can close your POMIS account early after 1 year, subject to a small penalty deduction.

How can I get 5000 interest monthly in the Post Office?

To earn ₹5,000 every month through POMIS, you need to deposit approximately ₹8.11 lakh at the current annual interest rate of 7.4%.

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.

Post Office Monthly Income Scheme

The Post Office Monthly Income Scheme (POMIS) is a government-backed, low-risk savings plan. It gives a fixed monthly income from your lump-sum investment. The POMIS offers an interest rate of 7.40% p.a., effective up to 30th September 2026.

Investment plans

Generate wealths Earn 1 Cr^# in maturity with Zero LTCG tax^¶
Double tax savings^ On premiums (under 80C) and on maturity (under 10(10D)
Compare & Choose 30+ Plans and 150+ Fund options

We are rated⁺⁺

15.8 Crore

Registered Consumer

Insurance Partners

7.16 Crore

Policies Sold

In-Built life cover

Invest ₹10K/month & Get

₹1 Crore Tax-Free

Plans starting from ₹1,000/month

Your Name

+91

Mobile Number

Your personal information is secure with us

By continuing you agree to receive assistance and agree to our Privacy Policy, Terms of Use

Key Features of the POMIS at a Glance

Current Interest Rate: 7.4% per annum, payable each month
Investment Limits:
- Minimum: ₹1,000 (multiples of ₹1,000)
- Maximum (Single): ₹9 lakh
- Maximum (Joint): ₹15 lakh
Tenure: 5 years (fixed)
Account Types: Individual account, joint account (up to 3 adults), account for minors

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 September):

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.

Comparison of POMIS vs Other Post Office 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