Post Office MIS Calculator

The Post Office MIS (Monthly Income Scheme) Calculator is a tool designed to help investors calculate the monthly interest they can earn from their Post Office MIS account. Users can quickly determine their monthly income by entering the principal amount and interest rate. This scheme is popular for its low-risk, fixed returns and is ideal for conservative investors. It simplifies the process of planning regular income from savings in Post Office schemes.

Post Office Monthly Income Scheme

The Post Office Monthly Income Scheme is a savings plan offered by India Post that provides a monthly income to its users. It is available to all Indian citizens and can be opened in individual, joint, or minor accounts.

To invest in this scheme, the minimum amount is Rs. 1,000. The maximum investment allowed is Rs. 9 lakhs for a single account and Rs. 15 lakhs for a joint account. The scheme lasts for five years.

What is the Post Office Monthly Income Scheme Calculator?

The Post Office MIS Interest Rate Calculator or Monthly Income Calculator is a tool that automatically calculates your monthly income based on your investment.

You just need to enter a few details about your investment, and the tool will instantly show you how much money you will earn each month after investing for a specific time at the current interest rate.

How Does the Post Office Monthly Income Plan Calculator Work?

In the MIS calculator, you need to enter details like the amount you want to invest, the current interest rate, and the lock-in period. Once you fill in these details, you will see the monthly income you can earn from the scheme.

Post Office MIS Calculator Formula

As mentioned earlier, this online tool uses an in-built calculator to provide instant solutions, and the formula that is used is:

(POMIS) monthly interest = Amount Invested * Annual Interest Rate/12

Let us understand this formula with a calculator:

Mr. Ramesh wants to invest Rs. 1,50,000 in the Monthly Income Scheme for five years. The current interest rate for the scheme is 7.4%. Let us figure out how much monthly income he will receive from this investment.

Monthly Income = 1, 50,000*7.4%/12 

Mr. Ramesh's Monthly Income from the Scheme = Rs. 925

How to Use the MIS Calculator?

Using this calculator is easy. Just follow these steps:

Go to the BlinkX POMIS calculator.

Enter how much you want to invest.

Enter the current interest rate.

Enter how long you plan to keep your investment.

 

Benefits of the Post Office MIS Scheme Calculator

Below are the benefits of the Post Office MIS (Monthly Income Scheme) Calculator:

Easy Calculation: It helps you quickly calculate the monthly income you can earn from your Post Office MIS investment based on the principal amount and the prevailing interest rate.

Accurate Results: The calculator provides precise figures for the monthly income you’ll receive, reducing manual calculation errors.

Time-Saving: Instead of manually going through complex formulas, you can instantly know the returns from your investment.

Helps in Planning: By using the calculator, you can plan your investments and monthly income according to your financial goals and requirements.

Interest Rate Updates: It considers the current interest rates set by the government, so you always get the most up-to-date income projections.

User-Friendly: The Post Office MIS Calculator is typically simple to use and requires only basic information like the deposit amount and interest rate.