Post office MIS — the monthly number

A fixed monthly credit for five years, guaranteed by the government, any age. Enter the deposit and account type.

Deposit (₹) — multiples of ₹1,000 Account

The rules this tool applies

Rate 7.4% for accounts opened July–September 2026, fixed for 5 years; interest paid monthly from the date of opening, simple, not compounded.
Limits: ₹9 lakh single, ₹15 lakh joint (each joint holder's share counts toward their own ₹9 lakh across all MIS accounts); minimum ₹1,000. Minors 10+ can open in their own name.
Tax: interest fully taxable at slab in both regimes. No TDS is deducted by the post office — so nothing appears in 26AS; report it yourself. No 80C on the deposit.
Term: 5 years; principal returned at maturity. Premature closure not allowed in year 1; 1–3 years: 2% of deposit deducted; 3–5 years: 1%.
Uncollected monthly interest earns nothing extra — link a post-office savings account for auto-credit.

Worked example

₹9,00,000 single: ₹5,550 a month, ₹66,600 a year, ₹3,33,000 over five years, then ₹9 lakh back. A joint ₹15,00,000 account pays ₹9,250 a month. The interest is taxable in full — at the 20% slab, ₹5,550 becomes about ₹4,440 in hand.

Edge cases to know

Old-regime 80TTB (s.153) lets 60+ deduct ₹50,000 of post-office/bank interest — MIS interest counts.
Reinvest the payout in a 5-year post-office RD (6.7%) to compound — a common MIS+RD pairing.
NRIs cannot open MIS; an existing resident account continues to maturity after status change.
Compare: SCSS pays 8.2% quarterly for 60+; MIS is the option below 60 or beyond the SCSS cap.

Related tools

SCSS calculator — 8.2% for seniors.
FD / RD calculator — payout FD compared.
Income tax calculator.

Last verified: 18 September 2026 — Rate 7.4% per MoF (30 June 2026); limits ₹9L/₹15L per National Savings (MIS) Scheme amendment 2023; no-TDS position per India Post scheme rules. Rates: Ministry of Finance notification of 30 June 2026 for July–September 2026 (ninth unchanged quarter); re-checked quarterly. · Not tax advice.