Post Office Monthly Income Scheme (MIS) Calculator
Monthly interest from the post office MIS at the Oct-Dec 2026 rate of 7.4%, for up to ₹9 lakh single or ₹15 lakh joint, with the rate history.
The post office Monthly Income Scheme interest rate for Oct-Dec 2026 is 7.4%, unchanged since April 2023 (it was 7.1% before that). ₹9 lakh (the single-account limit) pays ₹5,550 a month; ₹15 lakh in a joint account pays ₹9,250 a month, for 5 years.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- MIS (Monthly Income Scheme)
- A 5-year post office deposit that pays interest into your account every month and returns your money at the end. Up to ₹9 lakh alone or ₹15 lakh jointly.
- Monthly payout
- Interest paid to you every month instead of being added to the balance. Your deposit stays the same and comes back at the end.
- Small savings rate
- The interest rate the Ministry of Finance sets every quarter for post office schemes such as PPF, SSY, NSC and SCSS. Most schemes lock it in when you open; PPF and SSY use each quarter's rate.
- Premature closure
- Closing a deposit before its term ends. Usually allowed after a minimum period, with a penalty or a lower interest rate.
- Tax slab
- The income-tax rate for your income band. Dividends are added to your income and taxed at your slab rate.
The post office Monthly Income Scheme (MIS) takes a lump sum for 5 years and pays interest into your savings account every month. Your deposit comes back in full at maturity. The rate you open at stays fixed for the 5 years.
Monthly income from the MIS
| Deposit | Interest every month | Interest a year |
|---|---|---|
| ₹1,00,000 | ₹617 | ₹7,400 |
| ₹3,00,000 | ₹1,850 | ₹22,200 |
| ₹5,00,000 | ₹3,083 | ₹37,000 |
| ₹9,00,000 | ₹5,550 | ₹66,600 |
| ₹15,00,000 | ₹9,250 | ₹1,11,000 |
Monthly interest = deposit × rate ÷ 12. ₹15 lakh is possible only in a joint account.
MIS interest rate history
| Period | Interest rate |
|---|---|
| 1 Apr 2023 to now | 7.4% |
| 1 Jan 2023 to 31 Mar 2023 | 7.1% |
| 1 Oct 2022 to 31 Dec 2022 | 6.7% |
| 1 Apr 2020 to 30 Sep 2022 | 6.6% |
| 1 Jul 2019 to 31 Mar 2020 | 7.6% |
| 1 Oct 2018 to 30 Jun 2019 | 7.7% |
| 1 Jan 2018 to 30 Sep 2018 | 7.3% |
| 1 Jul 2017 to 31 Dec 2017 | 7.5% |
| 1 Apr 2017 to 30 Jun 2017 | 7.6% |
| 1 Oct 2016 to 31 Mar 2017 | 7.7% |
| 1 Apr 2016 to 30 Sep 2016 | 7.8% |
| 1 Apr 2013 to 31 Mar 2016 | 8.4% |
| 1 Apr 2012 to 31 Mar 2013 | 8.5% |
| 1 Dec 2011 to 31 Mar 2012 | 8.2% |
Rates from the National Savings Institute (Ministry of Finance) rate history and India Post's current rates; the Oct-Dec 2026 rates were confirmed by the Ministry of Finance memorandum of 30 September 2026.
Limits and early closure
Minimum ₹1,000. Maximum ₹9 lakh in a single account and ₹15 lakh in a joint account; the limit applies across all your MIS accounts. The account matures in 5 years.
It can be closed after one year: 2% of the deposit is deducted if closed before 3 years, 1% if closed after 3 years.
Tax
MIS interest is taxed at your slab rate. There is no section 80C/123 benefit.
Key takeaways
- MIS pays 7.4% for Oct-Dec 2026, every month, for 5 years.
- Limit ₹9 lakh single, ₹15 lakh joint.
- Early closure after 1 year costs 2% (before 3 years) or 1% (after).
Frequently asked questions
What is the post office MIS interest rate?
7.4% a year for Oct-Dec 2026, paid monthly, unchanged since April 2023.
How much monthly income will ₹9 lakh give in post office MIS?
₹5,550 a month at 7.4%.
What is the maximum in post office MIS?
₹9 lakh in a single account and ₹15 lakh in a joint account.
Can I close MIS early?
After one year. 2% of the deposit is deducted before 3 years, 1% after 3 years.
Is MIS interest taxable?
Yes, at your income tax slab rate.