POMIS Calculator
Calculate your guaranteed monthly income from the Post Office Monthly Income Scheme.
Investment Details
Max limit: ₹9 Lakh
Current POMIS interest rate is 7.4% p.a.
Monthly Income
Guaranteed for 60 months
Total Interest Earned
Over 5 years
Maturity Amount
Principal returned at end
Total Returns Breakdown
POMIS Insights
By investing ₹5,00,000, you secure a fixed monthly payout of ₹3,083 for the next 5 years.
Over the 5-year tenure, you will earn a total interest of ₹1,85,000, and your original principal will be fully refunded at maturity.
Tax Tip: The monthly interest is taxable, but there is no TDS deducted by the Post Office. You must declare it under "Income from Other Sources".
Understanding Post Office Monthly Income Scheme (POMIS)
The Post Office Monthly Income Scheme (POMIS) is one of the most reliable and risk-free investment options in India, backed by the Ministry of Finance. It is specifically designed for investors seeking a steady, guaranteed regular income.
Key Features of POMIS
- Guaranteed Returns: Interest rates are fixed by the government and remain constant for your 5-year tenure.
- Capital Protection: Since it's a government-backed scheme, your principal investment is 100% safe.
- Investment Limits: Minimum ₹1,000. Maximum ₹9 Lakh for single accounts and ₹15 Lakh for joint accounts.
- Maturity: The scheme matures in exactly 5 years from the date of opening.
Premature Closure Rules
While POMIS is meant for a 5-year lock-in, emergencies happen. The Post Office allows premature withdrawal with the following penalties:
| Time of Closure | Penalty Deducted |
|---|---|
| Before 1 Year | Not Allowed |
| 1 Year to 3 Years | 2% of the principal amount |
| 3 Years to 5 Years | 1% of the principal amount |
Frequently Asked Questions
What is the Post Office Monthly Income Scheme (POMIS)?
POMIS is a popular savings scheme backed by the Government of India. It allows investors to deposit a lump sum amount and receive a guaranteed fixed monthly income in the form of interest for a tenure of 5 years.
What is the maximum investment limit for POMIS?
The maximum investment limit is ₹9 Lakh for a single account and ₹15 Lakh for a joint account (up to 3 adults). The minimum investment required is ₹1,000.
What is the current interest rate for POMIS?
The interest rate is reviewed quarterly by the government. Currently, it is 7.4% per annum, payable monthly. The rate at which you open the account remains fixed for your entire 5-year tenure.
Can I close my POMIS account prematurely?
Yes, but with penalties. You cannot withdraw before 1 year. If closed between 1 to 3 years, a 2% penalty is deducted from the principal. If closed between 3 to 5 years, a 1% penalty is deducted.
Is the monthly income from POMIS taxable?
Yes, the monthly interest earned from POMIS is fully taxable as per your income tax slab. However, there is no TDS (Tax Deducted at Source) on the interest payouts.