Minus/plus icon
ResourcesExplore the full ACKO experience and make the most of your plan

MIS Calculator

The Monthly Income Scheme Calculator helps with key aspects of financial planning. Learn how.

The only insurance you need for your life's changing needs

Starting at ₹534/month*

A product of ACKO Life Insurance - ARN: L0021

Home / Life Insurance / Calculators / Articles / MIS Calculator

Financial planning plays a crucial role in ensuring a stable and secure future. One of the key aspects of financial planning is estimating and managing monthly income. To assist individuals in this process, a valuable tool known as the Monthly Income Scheme Calculator comes into play. In this comprehensive guide, we will delve into the intricacies of this calculator and explore how it can aid in effective financial management.

What is the post office Monthly Income Scheme?
Jump Tag Icon

The Post Office Monthly Income Scheme (POMIS) is a financial investment scheme offered by the Indian postal service. It provides individuals with a reliable and secure option to invest their savings and receive a steady monthly income in return. POMIS is designed to cater to the needs of risk-averse investors who seek regular income without the fluctuations associated with market-based investments.

Under the scheme, investors deposit a specific amount into their POMIS account, and in return, they receive fixed monthly interest payments. The interest rates are determined by the government and are subject to periodic revisions. The scheme offers a stable source of income, making it an attractive option for retirees, senior citizens, and individuals seeking a consistent cash flow.

MIS Calculator

Plan Your Savings with Our Monthly Income Scheme Calculator

Monthly Investment
Rate of interest (p.a) %
Time period
Total Maturity Amount
₹ 0
Money you invested
₹ 5,000
₹ 0

Monthly Income Scheme Calculator: What is it and how does it work?
Jump Tag Icon

The Monthly Income Scheme Calculator is a powerful tool that enables individuals to estimate their monthly income based on various financial inputs. It takes into account factors such as investment amount, interest rates, and tenure to provide an accurate projection of monthly income. This calculator allows individuals to make informed decisions regarding their financial investments and plan their monthly budgets effectively.

How can a Post Office Monthly Income Scheme Calculator help you?
Jump Tag Icon

Here are the advantages of using this tool.

Post Office MIS Interest Rate for 2023
Jump Tag Icon

The Post Office Monthly Income Scheme (POMIS) offers a guaranteed monthly income through interest payouts. The rate of interest for POMIS is determined by the Finance Ministry and the Central Government. This interest rate is reviewed and announced quarterly, based on the returns generated by Government Bonds with similar tenures. As of now, the Interest Rate stands at 7.10%.

The payouts are disbursed on a monthly basis, providing investors with a regular income stream. To facilitate convenience, investors have the option to choose auto-transfer of withdrawals. The interest amount can be automatically transferred to their savings account using either a Post Dated Cheque or ECS.

How to use the Monthly Income Scheme Calculator effectively
Jump Tag Icon

To make the most of the Monthly Income Scheme Calculator, follow these simple steps.

  1. Input the Investment Amount: Enter the amount you intend to invest in the designated field.

  2. Select the Tenure: Choose the duration for which you plan to invest your funds.

  3. Specify the Interest Rate: Enter the expected interest rate offered by the investment scheme.

  4. Calculate: Click on the "Calculate" button to obtain the estimated monthly income.

  5. Analyse the Results: Carefully review the results generated by the calculator, which will provide you with a clear understanding of your potential monthly income.

How to open a POMIS Account?
Jump Tag Icon

Benefits of opening a POMIS Account
Jump Tag Icon

  1. Makes it possible to get steady returns: Post office monthly invoice schemes provide a fixed rate of interest income. As of October 2023, the interest rate is 7.04%.

  2. It's great for reinvestment: Individuals can collect the fixed monthly interest from their POMIS and reinvest it in SIPs or a post office recurring deposit. 

Eligibility criteria to open a Post Office MIS account
Jump Tag Icon

The Post Office Monthly Income Scheme (POMIS) is specifically designed for conservative investors who prefer low-risk investment options. It serves as an excellent alternative for those who are not comfortable with market-linked instruments and seek guaranteed returns backed by the Government of India. POMIS stands out as one of the best monthly income plans available in the market.

To open a Post Office MIS account, individuals must meet the following eligibility criteria:

  1. Residency: The account holder must be a resident of India. Non-Resident Indians (NRIs) are not eligible for this scheme.

  2. Age Requirement: An individual must be 10 years of age or above to open a POMIS account. Parents can open an account in the name of their child only if the child is 10 years or older.

  3. Maximum Investment for Minors: For minor account holders, the maximum investment limit in POMIS is Rs. 3,00,000.

  4. Account Opening Amount: The minimum amount required to open a POMIS account is Rs. 15,000. On the other hand, the maximum investment limit for a single-holder account is Rs. 9 lakhs. In the case of a joint account, the maximum investment limit is Rs. 15 lakhs.

By fulfilling these eligibility criteria, individuals can take advantage of the benefits offered by the Post Office Monthly Income Scheme and secure a stable source of monthly income.

Types of accounts offered by India Post
Jump Tag Icon

India Post offers a range of accounts apart from the Post Office Monthly Income Scheme. These include the following.

  1. Post Office Savings Account: A basic savings account provided by India Post that offers secure storage for funds and easy withdrawal options.

  2. Senior Citizens Savings Scheme: A savings scheme specifically designed for senior citizens, offering attractive interest rates and regular income.

  3. Kisan Vikas Patra: A savings scheme aimed at farmers and individuals looking for long-term investment options with assured returns.

  4. Public Provident Fund Account: A long-term investment scheme that offers tax benefits along with guaranteed returns and flexibility in investment amounts.

  5. Sukanya Samriddhi Yojana: A scheme targeted towards parents or legal guardians of a girl child, promoting savings for her education and future needs.

  6. 5-Year Post Office Recurring Deposit Account: An account where individuals can deposit a fixed amount each month for a tenure of 5 years, earning a fixed rate of interest.

  7. Post Office Time Deposit Account: A fixed deposit account offered by India Post with various tenure options, providing assured returns.

  8. National Savings Certificate: A savings scheme that encourages long-term investments while offering tax benefits under Section 80C of the Income Tax Act.

All of these India Post schemes are investment plans with different maturity periods and lock-in periods. The maturity periods range from 5 years to 18 years, depending on the specific scheme. Regardless of the scheme chosen, all of them guarantee returns, providing individuals with a diverse range of investment options to suit their financial goals and preferences.

Frequently Asked Questions (FAQs)
Jump Tag Icon

Here are some common questions about the Monthly Income Scheme and MIS Calculator.


Can the Monthly Income Scheme Calculator be used for any investment scheme?

Yes, the Monthly Income Scheme Calculator can be used to estimate monthly income for various investment schemes, such as fixed deposits, mutual funds, and government bonds.

Is the Monthly Income Scheme Calculator reliable?

Yes, the Monthly Income Scheme Calculator employs robust algorithms and accurate financial data to provide reliable estimates of monthly income.

Can the calculator account for inflation?

No, the calculator does not factor in inflation. It provides an estimation based on the initial investment amount and expected interest rates.

Can I change the inputs after calculating?

Yes, the Monthly Income Scheme Calculator allows users to modify the inputs anytime to explore different investment scenarios and assess their impact on monthly income.

Are the results generated by the calculator guaranteed?

The results provided by the Monthly Income Scheme Calculator are based on the inputs provided and the prevailing interest rates. While the calculator aims to provide accurate estimates, it cannot guarantee the actual returns.

How frequently should I use the Monthly Income Scheme Calculator?

It is recommended to use the calculator periodically, especially when there are significant changes in your financial situation or investment plans. This will ensure that your monthly income estimates remain up-to-date and aligned with your goals.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes.