About this Post Office MIS calculator
The Post Office Monthly Income Scheme pays a fixed monthly interest on your deposit for five years. It suits retirees and anyone wanting a steady monthly income from a lump sum.
Enter the investment amount and the annual rate. The tool computes the monthly income and the total interest over five years. The maximum investment is ₹9 lakh for a single account and ₹15 lakh for a joint account.
The interest is taxable. The scheme allows premature closure with a penalty. Always confirm the current rate and rules at the post office.