POMIS Calculator Single & Joint Account
post office monthly income scheme, Tax & Joint Account Calculator for Senior Citizens
Post Office Monthly Income Scheme Calculator: Planning a steady and predictable monthly income after retirement is one of the biggest financial priorities for senior citizens in India. Market-linked investments may offer higher returns, but they also come with volatility that many retirees prefer to avoid. This is where government-backed savings schemes play a crucial role. Among them, the Post Office Monthly Income Scheme Calculator has become an essential tool for senior citizens who want clarity, safety, and regular cash flow.
The Post Office Monthly Income Scheme, commonly known as POMIS, is designed to provide fixed monthly interest income with capital protection. Using a reliable POMIS calculator helps investors accurately estimate their monthly income, total interest earned, and overall maturity value before investing. This page explains the POMIS scheme in detail, how the calculator works, eligibility rules, tax implications, joint account benefits, and whether POMIS is better than FD for senior citizens. Try our calculator tool and share your experience with us. Okay, let’s get into the topic below.
Also Check: SCSS Calculator [Post Office]
What Is POMIS Scheme in Post Office?
The Post Office Monthly Income Scheme (POMIS) is a government-backed small savings scheme offered by India Post. It is ideal for conservative investors who want guaranteed monthly income with minimal risk.
Under this scheme, you invest a lump sum amount for a fixed tenure of five years. In return, you receive monthly interest directly into your savings account. At the end of the tenure, the entire principal amount is returned.
Key highlights of POMIS include capital safety, predictable returns, and sovereign guarantee, making it a preferred choice for retirees and senior citizens.
Why Use a Post Office Monthly Income Scheme Calculator?
A Post Office Monthly Income Scheme Calculator eliminates guesswork from financial planning. Instead of manually calculating interest or relying on rough estimates, the calculator gives you precise results instantly.
Using a POMIS calculator helps you:
- Estimate monthly income accurately
- Know total interest earned over five years
- Understand maturity value clearly
- Compare POMIS with FD and other schemes
- Plan post-retirement expenses efficiently
Whether you are checking returns for a single account or a joint account, a calculator ensures transparency and confidence before investing.
How Does the POMIS Calculator Work?
The POMIS scheme follows a simple interest structure with monthly payouts. There is no compounding involved.
The calculator uses the following logic:
- Interest is calculated annually on the invested amount
- The annual interest is divided into 12 equal monthly payouts
- Interest is paid every month
- Principal is returned in full after 5 years
For example, investors often ask: How much interest for 1 lakh in post office per month?
If the interest rate is 7.4%:
-
Annual interest on ₹1,00,000 = ₹7,400
-
Monthly interest = ₹616.67 (approximately)
The calculator performs this calculation instantly for any amount within the allowed limits.
POMIS Calculator Excel vs Online Calculator 2026
Many users search for POMIS calculator excel or POMIS calculator online 2026. While Excel calculators work, online calculators are more practical.
Download POMIS Calculator Excel Sheet
Advantages of online calculators:
- Always updated with latest rates
- No formula errors
- Works on mobile and desktop
- Faster and more accurate
Excel calculators require manual updates and can lead to incorrect results if formulas are modified accidentally.
Post Office Monthly Income Scheme Latest Interest Rate
The Post Office Monthly Income Scheme latest interest rate is announced quarterly by the Government of India. While rates may change over time, they remain fixed for the entire tenure once you invest.
This stability ensures that your monthly income does not fluctuate, unlike market-linked instruments. A good POMIS calculator allows you to input the latest interest rate and instantly see updated income projections.
POMIS Eligibility Criteria
Understanding POMIS eligibility is essential before using the calculator or investing.
Eligible investors include:
- Resident Indian individuals
- Senior citizens
- Joint account holders (up to three adults)
Not eligible:
- NRIs
- HUFs
- Trusts and institutions
A POMIS calculator usually assumes eligibility and focuses on income calculation, but investors must ensure compliance with scheme rules before investing.
Post Office Monthly Income Scheme Maximum Limit
The Post Office Monthly Income Scheme maximum limit depends on the account type.
| Account Type | Maximum Investment |
| Single Account | ₹9,00,000 |
| Joint Account | ₹15,00,000 |
The Post Office Monthly Income Scheme Calculator joint account option is particularly useful for couples, as it allows higher investment and higher monthly income while maintaining safety.
Joint Account in POMIS Explained
A joint account under POMIS can be opened by up to three adults. The investment limit is higher, but the interest calculation remains the same.
Important points:
- Interest is calculated on the total investment, not per holder
- Monthly income is credited to the linked savings account
- All joint holders share equal ownership
A good POMIS calculator clearly shows monthly interest and total returns for joint accounts without confusion.
Is POMIS Taxable or Tax Free?
One of the most common questions is: Is POMIS taxable? Is POMIS tax free?
The answer is simple:
- POMIS interest is fully taxable
- It is added to your income and taxed as per your slab
- No TDS is deducted by the post office
Using a calculator with tax slab options helps estimate post-tax monthly income, which is crucial for realistic retirement planning.
Which Is Better, POMIS or FD?
Investors often compare POMIS with bank fixed deposits.
Here is a clear comparison:
| Feature | POMIS | Fixed Deposit |
| Risk | Very low | Low |
| Monthly income | Yes | Optional |
| Interest certainty | Fixed for 5 years | Depends on bank |
| Tax benefit | No | No |
| Premature exit | Limited | Available |
For retirees needing guaranteed monthly income, POMIS often works better than FD. For liquidity and flexibility, FD may be preferable. A calculator helps compare both objectively.
Which Post Office Scheme Is Tax Free?
While POMIS is taxable, some post office schemes offer tax benefits.
Examples include:
However, these schemes focus on long-term growth, not monthly income. POMIS is designed specifically for regular cash flow, which is why many senior citizens prefer it despite the taxability.
Frequently Asked Questions (FAQs)
1. What is the tenure of POMIS?
- The tenure is fixed at 5 years from the date of investment.
2. Can senior citizens open a POMIS account?
- Yes, senior citizens are fully eligible and commonly use this scheme for monthly income.
3. How much interest for 1 lakh in post office per month?
- At 7.4% interest, ₹1 lakh generates approximately ₹617 per month.
4. Is premature withdrawal allowed?
- Yes, but penalties apply depending on how early the account is closed.
5. Can I reinvest the interest?
- Interest is paid monthly and can be reinvested elsewhere, but it does not compound within POMIS.
6. Is POMIS better than SCSS?
- POMIS offers monthly income, while SCSS offers quarterly income with tax benefits. The better option depends on income needs and tax planning.
Final Words
The Post Office Monthly Income Scheme Calculator is an essential planning tool for senior citizens and conservative investors who value income stability over high-risk returns. POMIS stands out as a government-backed scheme that delivers predictable monthly income, full capital protection, and peace of mind during retirement years.
By using a reliable POMIS calculator, investors can clearly understand how much monthly income they will receive, how much total interest they will earn over five years, and what their final maturity value will be.
The calculator also helps evaluate joint account benefits, tax impact, and how POMIS compares with fixed deposits and other post office schemes. While POMIS is not tax-free, its simplicity, safety, and consistent cash flow make it an excellent choice for retirees who need dependable income.
When used alongside proper tax planning and realistic expense forecasting, the Post Office Monthly Income Scheme can form a strong foundation for a stress-free retirement strategy.
I hope the above pomis calculator and guide will help you to invest your money on a proper government safety montly income scheme. If you still have any questions on the above tool and its features please feel free to contact us. Follow our site for more investment related finance guides and tools. Thanks for your visit.
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