POMIS pays a fixed rate (7.4% p.a. in recent quarters) for 5 years, after which the principal is returned. Interest is taxable. The rate is reviewed every quarter – check the current rate.
How to use the Post Office Monthly Income Scheme Calculator
- Deposit amount
- Account type
- Interest rate (p.a.)
Results update as you type, and every field accepts the units shown in its menu.
How it works
Enter the deposit amount, account type and interest rate.
Tips
- Figures use the latest published rates; government scheme rates are revised every quarter.
- Choose between the old and new tax regimes carefully – deductions only count in the old regime.
- Keep proofs of investments and rent for your employer and the tax return.
- Use the official portal of each scheme for exact maturity values.
Common mistakes to avoid
- Assuming scheme interest rates are fixed for the whole term.
- Forgetting tax on interest from fixed and recurring deposits.
- Missing the yearly minimum deposit on PPF or Sukanya Samriddhi accounts.
Inputs explained
| Field | What to enter |
|---|---|
| Deposit amount | Amount in ₹ |
| Account type | Choose one: Single (max ₹9 lakh), Joint (max ₹15 lakh) |
| Interest rate (p.a.) | In % |
What each result means
- Deposit used (within the limit) = min([Deposit amount], [Account type])
- Monthly income = [Deposit used (within the limit)]×[Interest rate (p.a.)]÷1200
- Yearly income = [Monthly income]×12
- Total interest over 5 years = [Monthly income]×60
- Amount returned at maturity = [Deposit used (within the limit)]
Example values
How the main result changes when Deposit amount changes and everything else stays at the example values above:
| Deposit amount | Monthly income |
|---|---|
| 450,000 | 2,775 |
| 675,000 | 4,162.5 |
| 900,000 | 5,550 |
| 1,125,000 | 5,550 |
| 1,350,000 | 5,550 |
| 1,800,000 | 5,550 |
Formula
Monthly income = deposit × rate ÷ 12Total interest = monthly income × 60Maximum deposit: ₹9 lakh (single), ₹15 lakh (joint)Worked example
Inputs — Deposit amount: ₹900,000; Account type: Single (max ₹9 lakh); Interest rate (p.a.): 7.4 %.
Results — Deposit used (within the limit) = ₹900,000.00; Monthly income = ₹5,550.00; Yearly income = ₹66,600.00; Total interest over 5 years = ₹333,000.00; Amount returned at maturity = ₹900,000.00.
Frequently asked questions
What is the POMIS interest rate?
7.4% p.a. in recent quarters, paid monthly.
What is the maximum deposit?
₹9 lakh single, ₹15 lakh joint.
Is POMIS interest taxable?
Yes, as income from other sources (no TDS).
What formula does the Post Office Monthly Income Scheme Calculator use?
Monthly income = deposit × rate ÷ 12.