Post Office MIS Calculator
Calculate your Monthly Income Scheme returns with current interest rates
Government of India Scheme
Post Office MIS Projection
Monthly Interest Income
₹616.67
Principal Amount
₹1,00,000
Total Interest Earned
₹37,000
Maturity Amount
₹1,00,000
Effective Annual Yield
7.4%
Post Office MIS Key Features
Benefits
- Guaranteed monthly income
- Government-backed security
- 7.4% interest rate (July 2024)
- Tax benefits under Section 80C
- Nomination facility available
Rules
- Minimum deposit: ₹1,000
- Maximum deposit: ₹9 lakh (single)
- ₹15 lakh maximum limit for joint account
- Fixed 5-year tenure
- Premature withdrawal after 1 year
Current Post Office Scheme Rates (July 2024)
| Scheme | Interest Rate | Tenure |
|---|---|---|
| Monthly Income Scheme (MIS) | 7.4% | 5 years |
| Time Deposit (1 year) | 6.9% | 1 year |
| Time Deposit (5 years) | 7.5% | 5 years |
| Senior Citizen Savings Scheme | 8.2% | 5 years |
How Post Office MIS Works
- Deposit Amount: Invest between ₹1,000 to ₹9 lakh
- Monthly Payouts: Receive interest every month
- Tenure: Fixed 5-year period
- Maturity: Get back principal amount
- Taxation: Interest is taxable as per your income slab
MIS vs Other Post Office Schemes
| Feature | MIS | Time Deposit | SCSS |
|---|---|---|---|
| Interest Rate | 7.4% | 7.5% | 8.2% |
| Payout Frequency | Monthly | Quarterly/At maturity | Quarterly |
| Tenure | 5 years | 1-5 years | 5 years |
| Max Investment | ₹9 lakh | No limit | ₹30 lakh |