Post Office MIS Calculator
Monthly Interest
₹0
Total Interest
₹0
Maturity Value
₹0
Post Office Monthly Income Scheme (POMIS)
The Post Office Monthly Income Scheme (POMIS) is a government-backed savings scheme offered by the Indian Postal Service that provides guaranteed monthly interest payouts. It is an excellent option for conservative investors looking for a stable and regular income stream with minimal risk.
In POMIS, investors deposit a lump sum amount for a fixed tenure of five years and receive interest payouts every month. The scheme offers a fixed interest rate, which is reviewed quarterly by the government. Investors can calculate their expected monthly income using a Post Office MIS Calculator to plan their finances efficiently.
The Post Office MIS Calculator on Tradejini helps you estimate your monthly interest income quickly and helps you plan your investments with clarity.
How the Post Office MIS Calculator Helps You
- Accurate Monthly Income Calculation: Provides precise monthly interest income based on the amount invested and the current interest rate.
- Time-Saving and Error-Free: Instantly gives results without the risk of calculation mistakes.
- Financial Planning Assistance: Helps you visualize your monthly earnings to manage expenses and plan for future needs.
- Compare Investment Options: Allows comparison of POMIS income with other fixed-income instruments to help choose the right option.
Formula for Post Office MIS Calculation
The POMIS Calculator uses a simple interest formula to calculate monthly interest payouts. The formula is as follows:
Monthly Interest (I) = (P × R) / 12
Where:- P = Principal amount invested
- R = Annual interest rate in decimal form
- 12 = Number of months in a year
Example: Suppose Ms. Rina invests Rs. 9,00,000 in a post office MIS at an annual interest rate of 7.4%.
Step 1: Apply the formula:
Monthly Interest = (9,00,000 × 0.074) / 12 = Rs. 5,550
The monthly interest income will be Rs. 5,550, and she will receive this amount every month for 5 years.
How to Use the Post Office MIS Calculator on Tradejini
- Enter Investment Amount: Input the amount you plan to deposit under the MIS scheme.
- Enter the Interest Rate: Input the prevailing annual interest rate for POMIS.
- Click on Calculate: The calculator will instantly show the monthly income and total interest over the tenure.
The POMIS Calculator on Tradejini helps investors make precise and informed investment plans for regular monthly returns.
Investment Rules for Post Office MIS
- Minimum Investment Amount: The minimum deposit is Rs. 1,000, and further investments can be made in multiples of Rs. 1,000.
- Maximum Investment Limit: Rs. 9 lakh for a single account and Rs. 15 lakh for a joint account (up to three adults).
- Tenure: The fixed tenure is 5 years.
- Interest Payout: Interest is paid monthly but not compounded.
- Premature Withdrawal: Allowed after one year, with a penalty—2% if withdrawn before 3 years, and 1% if withdrawn after 3 years.
- Transfer Facility: Accounts can be transferred from one post office to another.
- Joint and Minor Accounts: Allowed with up to three adults in joint accounts or on behalf of minors.
- Tax Treatment: Interest earned is taxable, but no TDS is deducted.
- Auto Credit Option: Monthly interest can be auto-credited to a savings account via ECS.
Advantages of Using the Post Office MIS Calculator on Tradejini
- Saves Time and Effort: Quickly computes results without manual math.
- Prevents Errors: Reduces the chances of mistakes in manual calculations.
- Helps Plan Cash Flow: Gives a clear monthly income figure for better expense management.
- Facilitates Comparison: Easily compare monthly returns with other instruments to choose what suits you best.
- User-Friendly Interface: Simple to use for all, even beginners.
Utilizing the Post Office MIS Calculator on Tradejini enables better visibility into monthly income planning and empowers users to make sound investment decisions with clarity and ease.
