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Post Office MIS Calculator

Investment Amount
Rate of Interest (p.a)
%
Lock in Period
Yr

Monthly Income

₹617

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.

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FAQs on Post Office MIS Calculator

How long will the POMIS take to give me the results?

The POMIS will provide interest payments monthly, with the principal amount returned after 5 years.

Does the Post Office's monthly income scheme have risks?

The scheme is considered low-risk as it is government-backed, offering a fixed return with no market-linked volatility.

Is the POMIS calculator accurate?

The POMIS calculator is accurate for estimating monthly payouts based on the principal amount and interest rate.

What is the interest rate for MIS in the post office?

The current interest rate for the Post Office Monthly Income Scheme (MIS) is 7.4% per annum, payable monthly.

What details do I need to enter in the MIS scheme post office calculator?

You need to enter the investment amount, tenure (5 years), and applicable interest rate to calculate monthly income.

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