Post Office Monthly Income Scheme (MIS) Calculator
Your monthly interest from Post Office MIS, every payout date and early-closure value.
Interest by tax year
What falls due in each tax year (1 April – 31 March) — the amount to report in your return. MIS gives no section 123 deduction.
Every payout
On a Sunday or holiday the interest is paid on the working day before.
How this was calculated
Results are estimates for general information and planning, not financial advice. Banks and institutions may calculate differently (rounding, fees, rate changes). Confirm figures with your lender or a qualified adviser before deciding.
About the Post Office Monthly Income Scheme (MIS) Calculator
The Post Office Monthly Income Scheme (MIS) — officially the National Savings Monthly Income Account — takes a single deposit and pays interest every month for 5 years, then returns the deposit. At the current 7.4%, ₹9 lakh in a single account pays ₹5,550 a month and ₹15 lakh in a joint account ₹9,250.
Enter the deposit date and amount to see the monthly interest, all 60 payout dates, the interest in each tax year for your return, and what you would get back if you closed the account early. The rate for any deposit date since December 2011 is looked up from the National Savings Institute’s table, so you can check an account you already hold.
How to use it
- Enter the date of deposit (today for a new account) and the amount — ₹1,000 or more, in multiples of ₹1,000.
- Choose a single or joint account; the limits are ₹9 lakh and ₹15 lakh.
- Keep the rate filled in for that date, or enter the one in your passbook.
- Optionally enter an early-closure date. Then read the monthly interest, the tax-year totals and the payout list, and copy the summary or download the CSV.
Examples
₹5,550 a month from 3 November 2026 · ₹66,600 a year · ₹3,33,000 over 5 years · deposit back on 3 October 2031
₹9,250 a month — each holder’s share counts as ₹7,50,000 towards the ₹9 lakh personal limit
2% of the deposit (₹18,000) is deducted: ₹8,82,000 back, after ₹1,33,200 of monthly interest
₹62 a month — India Post’s own figure for ₹10,000 at 7.4%
MIS rules
From the National Savings (Monthly Income Account) Scheme, 2019 and its 2023 amendments (SB Order 07/2023, SB Order 16/2023):
- Who: a single adult, up to three adults jointly, a guardian for a minor or a person of unsound mind, or a minor aged 10 or more.
- Deposit: one deposit per account, ₹1,000 or a multiple of ₹1,000. At most ₹9 lakh in a single account and ₹15 lakh in a joint one (₹4.5 lakh and ₹9 lakh before 31 March 2023). Your accounts together must stay within the same limits, with a joint account counting as a half or a third for each holder.
- Interest: due one month after the deposit and every month after that, on the same date — on the last day of the month when that date does not exist (para 5(9)); rounded to the rupee. Unclaimed interest earns nothing more, so have it credited to your savings account.
- Maturity: after 5 years the deposit is repaid. There is no extension; an account left open after maturity earns only the Post Office Savings Account rate (General Rules 2018, rule 9(6)).
Closing the account early
Under paragraph 6 you can close the account after one year:
- from 1 to 3 years — 2% of the deposit is deducted;
- after 3 years — 1%.
The monthly interest you have already received is not taken back. Before one year the account cannot be closed, except on the death of the holder, when the deposit is repaid with interest up to the month before (para 7(2)).
The interest rate
The rate is fixed for 5 years by the date of deposit. From the NSI rate history: 7.4% for deposits from 1 April 2023 (India Post lists 7.4% for October–December 2026 as well); 7.1% in January–March 2023; 6.7% in October–December 2022; 6.6% from April 2020 to September 2022; 7.6% from July 2019 to March 2020.
Tax
MIS interest is taxable at your slab in both regimes, and the deposit gives no section 123 deduction — MIS is not in Schedule XV of the Income-tax Act, 2025. The table shows the interest falling due in each tax year, which is what you report. In the old regime a senior citizen can deduct up to ₹50,000 of interest on bank and post office deposits under section 153. Where TDS applies, it is deducted under section 393(1) (Table serial 5(ii)) once the post office’s interest to you passes ₹50,000 in a tax year, or ₹1 lakh if you are 60 or older.
Limitations
- The rate comes from the NSI rate history and India Post for the deposit date, up to 31 December 2026. For a later date the calculator uses the latest rate and says so — check the rate for that quarter.
- Payout dates are the scheme’s due dates. When one falls on a Sunday or holiday, the post office pays on the working day before it (para 5(8)).
- On early closure, no interest is shown for the part month after the last monthly payout.
- The per-person limit across several accounts is explained but not checked — the calculator looks at one account at a time.
- The deduction drops from 2% to 1% on the third anniversary of the deposit; for a closure on that exact day, confirm the figure with the post office.
Privacy
Everything happens in your browser. What you enter or open here is not uploaded or stored by MySmartCoPilot.
Frequently asked questions
How much monthly income will I get from ₹9 lakh in Post Office MIS?
₹5,550 a month at 7.4% — ₹66,600 a year — for 5 years, after which the ₹9 lakh is repaid. In a joint account, ₹15 lakh gives ₹9,250 a month.
What is the Post Office MIS interest rate now?
7.4% a year for deposits made from 1 April 2023. India Post lists 7.4% for October–December 2026, the latest quarter announced when we checked. Your rate stays fixed for the 5 years.
When is MIS interest paid?
Every month on the date of your deposit, starting one month after it. A deposit made on the 29th, 30th or 31st is paid on the last day of shorter months.
Can I close MIS before 5 years?
After one year, yes. 2% of the deposit is deducted if you close within 3 years, 1% after that. The monthly interest already paid is yours to keep.
Is Post Office MIS interest taxable?
Yes. It is taxable at your slab and MIS gives no section 123 deduction. Senior citizens in the old regime can deduct up to ₹50,000 of deposit interest under section 153.