Looking for a safe, steady, and government-backed way to earn ₹9,250 every month? The Post Office Monthly Income Scheme (POMIS) is a powerful tool for individuals who want a fixed, reliable income stream. Whether you’re a retiree, a conservative investor, or someone looking for low-risk financial stability, the POMIS scheme is an excellent choice.
In this article, we’ll break down exactly how you can use the POMIS scheme calculator to figure out how much to invest to earn ₹9,250 monthly. We’ll explain the interest rates, investment limits, key benefits, and step-by-step strategies, all in a simple, easy-to-understand way.
POMIS Scheme Calculator
| Feature | Details |
|---|---|
| Scheme Name | Post Office Monthly Income Scheme (POMIS) |
| Interest Rate (as of March 2025) | 7.4% per annum |
| Monthly Income Example | ₹9,250 monthly from a ₹15,00,000 investment |
| Investment Limit (Single Account) | Up to ₹9,00,000 |
| Investment Limit (Joint Account) | Up to ₹15,00,000 |
| Lock-in Period | 5 years |
| Premature Withdrawal | Allowed after 1 year with penalties |
| Taxation | Interest is taxable, but no TDS deducted |
The POMIS Scheme Calculator helps you strategically plan your monthly income from a reliable, government-backed source. By investing ₹15 lakh in a joint account, you can comfortably receive ₹9,250 per month, making it an ideal choice for retirees, conservative investors, and families seeking financial stability.
What is the Post Office Monthly Income Scheme (POMIS)?
The Post Office Monthly Income Scheme (POMIS) is a government-backed savings plan offered by India Post. It’s designed to provide individuals with a fixed monthly income by investing a lump sum amount. Think of it as a safe place to park your money and watch it grow steadily without worrying about market fluctuations.
Why is POMIS Popular?
- Zero risk: Your investment is secured by the Government of India.
- Fixed returns: Interest rates are fixed and announced quarterly.
- Simple eligibility: Available to any Indian resident.
- Tax efficiency: No TDS (Tax Deducted at Source) on interest income.
see also: Withdrawing Money from ATM Will Become More Expensive
How Can You Earn ₹9,250 Monthly with POMIS?
Let’s get straight to the big question: How do you earn ₹9,250 every month using the POMIS scheme?
The Math Behind It
The formula to calculate your monthly income is:
Monthly Income = (Investment Amount × Annual Interest Rate) / 12
The current annual interest rate is 7.4% (as of March 2025).
So: ( ₹15,00,000 × 7.4% ) / 12 = ₹9,250 per month
Important:
- The maximum limit for a single account is ₹9 lakh.
- However, you can open a joint account (up to 3 adults) to invest up to ₹15 lakh and achieve this target.
Step-by-Step Guide:
- Decide on Investment Type: Single or Joint Account?
- Single account limit: ₹9 lakh.
- Joint account limit: ₹15 lakh.
- Use the POMIS Calculator: Try Groww’s POMIS Calculator or official post office tools to check expected monthly income.
- Open an Account at Post Office: Visit the nearest branch with KYC documents (Aadhaar, PAN, passport-sized photo).
- Deposit Amount: Minimum ₹1,000. For ₹9,250 monthly income, deposit ₹15 lakh (joint account).
- Receive Monthly Interest: The interest is credited monthly to your post office savings account.
Benefits of Using POMIS
| Pros | Details |
|---|---|
| Guaranteed Returns | No market risk; fixed interest payments monthly. |
| Government-Backed Security | Safe investment; backed by the Indian government. |
| Flexible Account Options | Single or joint account flexibility. |
| Premature Withdrawal Options | Possible after 1 year with nominal penalties. |
| Tax Efficiency | No TDS; but interest taxable as per slab. |
Things to Keep in Mind
1. Interest is Taxable
While there’s no TDS, the interest earned is added to your total income and taxed based on your applicable slab.
2. Lock-in Period
Your money is locked for 5 years. If you withdraw early:
- After 1 year, but before 3 years: 2% penalty.
- After 3 years: 1% penalty.
3. Max Investment Limits
- Single account: ₹9 lakh
- Joint account: ₹15 lakh
How to Calculate Monthly Income Using POMIS Calculator
Want to double-check how much monthly income you’d earn? Here’s how you can use an online calculator:
Step-by-Step:
- Visit a reliable tool like Groww’s POMIS Calculator.
- Enter your investment amount.
- Enter the current interest rate (7.4%).
- Choose 5 years tenure.
- Click Calculate.
The calculator instantly shows:
- Your total investment
- Monthly interest income
- Total maturity amount after 5 years
Example: Investing ₹15 lakh results in ₹9,250 monthly income.
see also: If You Want Exemption in Income Tax Then Invest in These 5 Schemes
POMIS Scheme Calculator FAQs
1. What is the current interest rate of POMIS?
As of March 2025, it is 7.4% per annum.
2. Can NRIs open a POMIS account?
No, Non-Resident Indians (NRIs) are not eligible for POMIS.
3. Is the interest income from POMIS taxable?
Yes, the interest is fully taxable as per your income tax slab, though there is no TDS deduction.
4. Can I reinvest my maturity amount in POMIS?
Yes, after the 5-year tenure ends, you can reinvest the amount in a new POMIS account.
5. Is there any age limit to open a POMIS account?
No age limit. Even minors above 10 years can open an account with a guardian.
6. How safe is POMIS?
It is one of the safest schemes, backed by the Government of India.
