What is a post Office MIS Calculator?
The Post Office Monthly Income Scheme is a 5-year, government-backed deposit that pays out interest every month rather than compounding it — a straightforward income option for anyone who wants a predictable monthly amount from a lump sum, without market risk.
The principal is returned in full at maturity, and the rate is fixed for the full 5-year tenure at whatever was notified on your date of deposit.
How the monthly payout is calculated
Like SCSS, MIS uses simple (non-compounding) interest paid out monthly rather than added back to the principal, so the payout stays level throughout the 5-year term.
Frequently asked questions
What is the current MIS interest rate?
The rate is notified at 7.4% per annum for Q2 FY 2026-27 (July–September 2026), paid monthly, fixed for the deposit’s 5-year tenure once invested.
What is the maximum MIS deposit?
The commonly cited ceiling is ₹9 lakh for a single account and ₹15 lakh for a joint account — confirm the current limit at your post office, as scheme limits are periodically revised.
Is MIS interest taxable?
Yes, fully taxable at your income slab rate, though there’s no TDS deducted at source on MIS interest — you’re expected to declare and pay tax on it yourself.