Post Office MIS Calculator
See how much monthly income a Post Office MIS deposit will give you and the total interest over 5 years.
How Post Office MIS works
MIS is a post office scheme that gives you a fixed monthly income from a lump-sum deposit. You put the money in once, and every month the post office sends the interest to your savings account. The same amount, every month, for 5 years. At the end, you get your original deposit back in full. Nothing compounds here.
The limit is ₹9 lakh for a single account and ₹15 lakh for a joint one (raised in April 2023 from ₹4.5L/₹9L). It works well if you have a lump sum and want a steady monthly income without worrying about markets. The interest is taxable as income, and the post office doesn't deduct TDS, so you declare it yourself. For the current rate, see the India Post MIS page.
Common questions
What's the maximum I can put in?
₹9 lakh per single account, ₹15 lakh per joint account. You can open multiple accounts, but all your single MIS accounts put together can't cross ₹9 lakh. These limits were raised in April 2023.
Is the monthly income taxable?
Yes. It counts as income and gets taxed at your slab rate. The post office doesn't cut TDS, so you need to show it in your income tax return.
Can I close it before 5 years?
Not in the first year. After that: closing between 1–3 years costs you 2% of the deposit, and between 3–5 years costs 1%. After 5 years there's no penalty, you just get your full deposit back.