Post Office MIS Calculator allows users to calculate their monthly income based on the deposit amount and interest rate. This is a monthly income scheme of India Post Office.

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What is the Post Office Monthly Income Scheme (POMIS)?

The Post Office Monthly Income Scheme (POMIS) is a government-backed savings scheme designed to provide a stable and guaranteed monthly income. It is one of the safest investment options, ideal for risk-averse individuals looking for regular income.

Key Features of POMIS

1. Assured Returns:
   POMIS offers a fixed interest rate of 7.4% per annum (as of now), paid monthly.
2. Investment Limit:
   • Maximum: ₹9 Lakhs (single account) and ₹15 Lakhs (joint account).
   • Minimum: ₹1,000.
3. Tenure:
   The investment period is 5 years.
4. Risk-Free:
   Backed by the Government of India, ensuring complete safety of your principal.

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Benefits of POMIS

1. Monthly Income:
   Provides a reliable source of income for retirees, homemakers, or anyone seeking stability.
2. Tax Efficiency:
   Interest earned is taxable, but the principal is exempt from TDS.
3. Joint Accounts:
   Joint account holders can collectively invest higher amounts for better returns.

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How is POMIS Interest Calculated?

Interest is calculated monthly using the formula:Monthly Income=(Principal Amount × Annual Interest Rate)÷12\text{Monthly Income} = \text{(Principal Amount × Annual Interest Rate)} ÷ 12Monthly Income=(Principal Amount × Annual Interest Rate)÷12

Example: If you invest ₹9 Lakhs, your monthly income will be:(₹9,00,000×7.4%)÷12=₹5,550(₹9,00,000 × 7.4\%) ÷ 12 = ₹5,550(₹9,00,000×7.4%)÷12=₹5,550

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Why Use Our POMIS Calculator?

1. Quick Calculations:
   Get instant results for monthly income based on your investment amount.
2. Custom Inputs:
   Enter your investment amount and explore income possibilities.
3. Financial Planning:
   Helps you decide the right investment amount to meet your financial goals.

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Start using our POMIS Calculator today and plan your monthly income with confidence!