Monthly interest from the Post Office Monthly Income Scheme on any deposit up to the limit.
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Post Office Monthly Income Scheme (POMIS)
Monthly income = Deposit × rate ÷ 100 ÷ 12MIS pays interest every month for 5 years and returns the deposit at maturity. At 7.4%, ₹9,00,000 gives ₹5,550 a month (₹66,600 a year); a joint account with ₹15,00,000 gives ₹9,250 a month.
Key rules
- Minimum ₹1,000; maximum ₹9 lakh in a single account and ₹15 lakh in a joint account (limits raised in April 2023).
- Interest is paid monthly into your post-office savings account; it is taxable, with no TDS.
- Premature closure allowed after 1 year with a 2% deduction (1% after 3 years).
- No 80C benefit — compare with SCSS (8.2%, for 60+) and post-office time deposits.
Rates change. The default rate is the one announced for the current quarter. You can type a different rate any time — the result updates instantly.
Sources & last reviewed
Small-savings interest rates notified quarterly by the Ministry of Finance (Department of Economic Affairs); this page uses the rate for the October–December 2026 quarter. Scheme rules follow the Government Savings Promotion Act, 1873 and the 2019 scheme rules. National Savings (Monthly Income Account) Scheme, 2019: 5-year term, 7.4% paid monthly, limits ₹9 lakh single / ₹15 lakh joint.
Official sources: India Post – savings schemes · National Savings Institute
Last reviewed: 17 October 2026. Rules and rates change — if you spot something outdated, tell us and we will fix it.
Frequently asked questions
How much monthly income from ₹9 lakh in post office MIS?
₹5,550 per month at 7.4% (₹9,00,000 × 7.4% ÷ 12).
What is the maximum amount in MIS?
₹9 lakh for a single account and ₹15 lakh for a joint account; a person's share across joint accounts is counted towards the ₹9 lakh limit.
Can I open MIS online?
No — MIS accounts are opened at a post office with KYC documents; interest can be credited to a linked post-office savings or bank account.