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Work out the monthly income from the Post Office Monthly Income Scheme at 7.4% (Oct–Dec 2026), on up to ₹9 lakh in a single account or ₹15 lakh in a joint one.
Your deposit
The rate is fixed for the whole term when you open the account, even if later rates change.
What you receive
The monthly interest is taxed at your slab rate; there is no 80C deduction for MIS.
The Post Office Monthly Income Scheme (MIS) pays interest every month for 5 years. It pays 7.4% for accounts opened in Oct–Dec 2026, fixed for the whole term.
You can deposit up to ₹9 lakh in a single account and ₹15 lakh in a joint one. The deposit comes back at the end of 5 years.
Monthly interest = deposit × rate ÷ 12
Lata deposits ₹9 lakh in a single account
₹9 lakh in a single account and ₹15 lakh in a joint account, across all your MIS accounts.
7.4% a year for accounts opened in Oct–Dec 2026, fixed for 5 years.
Not in the first year. After that, 2% of the deposit is deducted if you close it before 3 years, and 1% after.
No. It is added to your income and taxed at your slab rate.
Results are estimates. Returns are assumed constant, rates and tax rules can change, and your actual numbers will differ. This is not financial or tax advice.