Post Office MIS (POMIS) Calculator

Rules, opening & closing

How to open, how to close, premature withdrawal rules, and main regulations for this scheme.

How to open a Post Office MIS account?

Visit any post office with identity proof (Aadhaar, PAN), address proof, and the deposit amount. Fill the MIS account opening form. Minimum deposit ₹1,000; maximum ₹9 lakh (single) or ₹15 lakh (joint, up to 3 adults). An individual’s total in all MIS accounts (including share in joint) cannot exceed ₹15 lakh. Account can be single or joint.

How to close or withdraw at maturity?

Maturity is 5 years from the date of opening. On maturity, visit the post office with the passbook and identity proof. Submit a closure form. The principal is returned; interest is already paid monthly. No automatic renewal; you can withdraw the full amount.

Can I close or withdraw prematurely? What are the rules?

Premature closure is allowed after 1 year. Deduction: 2% of the deposit if closed before 3 years; 1% if closed after 3 years but before 5 years. No closure in the first year. No partial withdrawal; only full closure. No loan against MIS.

What are the main rules and regulations?

Interest is paid monthly at the rate notified by the government (e.g. 7.4% p.a.). Single account max ₹9 lakh; joint max ₹15 lakh. Tenure 5 years. Only one MIS in single name and one in joint name per person. Interest is taxable. Nomination is allowed. Resident Indians only; NRIs cannot open.

Who is eligible and what documents are needed?

Resident individuals; can be single or joint (up to 3 adults). Minors through guardian. Documents: Aadhaar/identity proof, address proof, photograph, and completed form. NRIs are not eligible.