Post Office Monthly Income Scheme Calculator
Print| Total Interest Income Over 5 Years | $0 |
| Principal Refunded at Maturity | $0 |
The Post Office Monthly Income Scheme Calculator (POMIS Calculator) is a reliable financial planning tool designed to compute exact monthly interest income generated by small savings deposits in India Post. Backed by the Ministry of Finance, POMIS offers guaranteed monthly payouts over a 5-year maturity tenure, making it a favorite choice for retirees, senior citizens, and risk-averse investors.
Whether opening a single account (up to ₹9 Lakhs limit) or a joint account (up to ₹15 Lakhs limit), this calculator projects your precise monthly income stream.
The POMIS Monthly Interest Formula
Monthly interest payouts under the Post Office Monthly Income Scheme are calculated using simple interest math divided into 12 equal monthly disbursements:
Monthly Interest Income (₹) = (Deposit Amount * Annual Interest Rate) / 12
POMIS Deposit Limits & Features
- Single Account Maximum Deposit: ₹9,00,000 (₹9 Lakhs)
- Joint Account Maximum Deposit: ₹15,00,000 (₹15 Lakhs)
- Maturity Tenure: 5 Years (60 months)
- Current Interest Rate: 7.4% per annum (paid out monthly)
- Principal Protection: 100% principal returned intact at the end of 5 years.
POMIS Monthly Income Benchmark Table
The table below presents guaranteed monthly payouts across common deposit amounts at the current 7.4% Annual Interest Rate:
| Account Type | Deposit Amount (₹) | Annual Interest Rate | Guaranteed Monthly Income (₹) | 5-Year Total Interest Payout (₹) |
|---|---|---|---|---|
| Single Account | ₹100,000 | 7.40% | ₹617 / month | ₹37,000 |
| Single Account | ₹500,000 | 7.40% | ₹3,083 / month | ₹185,000 |
| Single Account (Max Limit) | ₹900,000 | 7.40% | ₹5,550 / month | ₹333,000 |
| Joint Account (Max Limit) | ₹1,500,000 | 7.40% | ₹9,250 / month | ₹555,000 |
Step-by-Step POMIS Calculation Example
Consider a couple opening a Joint POMIS Account depositing the maximum allowable sum of ₹1,500,000 (₹15 Lakhs) at 7.4% interest.
Step 1: Calculate Annual Interest
Annual Interest = ₹1,500,000 * 0.074 = ₹111,000 per year
Step 2: Calculate Monthly Income Disbursement
Monthly Income = ₹111,000 / 12 = ₹9,250 per month
Step 3: Calculate 5-Year Cumulative Earnings
Total Interest Over 5 Years = ₹9,250 * 60 months = ₹555,000
Result: The joint account generates a guaranteed ₹9,250 monthly income for 5 years, returning the full ₹15 Lakhs principal upon maturity.
Frequently Asked Questions
Is POMIS interest eligible for Section 80C tax deductions?
No. Deposits made into Post Office Monthly Income Scheme do not qualify for Section 80C tax deductions. Furthermore, monthly interest income earned is taxable based on your applicable income tax slab.
Can I withdraw my money before the 5-year maturity period?
Yes, premature withdrawal is permitted after 1 year. If withdrawn between 1 and 3 years, a penalty of 2% is deducted from the principal balance. If withdrawn after 3 years, a 1% penalty is deducted.
How is monthly interest credited to the investor?
Monthly interest can be automatically credited directly to your Post Office Savings Account or transferred electronically to your linked bank savings account via ECS.
Can a minor open a Post Office Monthly Income Scheme account?
Yes. A minor above 10 years of age can open and operate a POMIS account in their own name, up to a maximum deposit limit of ₹3 Lakhs.