Post Office Recurring Deposit Accounts

Who can open Recurring Deposit Accounts:

  • A single adult or two adults jointly,
  • A guardian on behalf of a minor or a person of unsound mind; or
  • A minor who has attained the age of ten year, in his own name.

Where can be opened :

A Recurring Deposit Accounts can be opened at any post office.

Maturity of Recurring Deposit Accounts

Period of maturity of an account is five years.

Deposits:

Sixty equal monthly deposits shall be made in an account in multiples of Rs.five subject to a minimum of ten rupees.

Defaults in deposits :

  • Accounts with not more than four defaults in deposits can be regularized within a period of two months on payment of a default fee.
  • Account becomes discontinued after more than four defaults.

Interest & Repayment on maturity :

  • On maturity of the accounts opened on or after 1st March, 2003, an amount (inclusive of interest) of Rs. 728.90 is payable to a subscriber of Rupees: Ten denomination account.
  • Amount repayable, inclusive of interest, on an account of any other denomination shall be proportionate to the amount specified above.

Pass Book in Recurring Deposit Accounts :

Depositor is provided with a pass book with entries of the deposited amount and other particulars duly stamped by the post Office.

Premature closure :

Premature closure of accounts is permissible after expiry of three years provided that interest at the rate applicable to post office savings account shall be payable on such premature closure of account.

Continuation after maturity in Recurring Deposit Accounts :

Permissible for a maximum period of five years.

18 comments for “Post Office Recurring Deposit Accounts

  1. Harcharan Singh Rawat
    June 17, 2016 at 8:14 am

    Can an RD account be opened by a guardian in case of a minor in the Post Office.

    • Harcharan Singh Rawat
      June 17, 2016 at 8:19 am

      can an RD account be opened by a guardian on behalf of a minor in the Post Office

  2. manav
    March 30, 2016 at 5:57 am

    hello sir i want to know the preasent value of my rd account open in oct 2012 deposited 3000 per month….

  3. March 5, 2016 at 7:20 am

    HI SIR HOW TO KNOW MY RECURRING DEPOSIT STATUS ON ONLINE

  4. January 7, 2016 at 12:29 pm

    Hi Sir
    Can i avail this as under tax saving scheme.

    Thanks
    Gulam

  5. RAJESH KUMAR SINGH
    November 10, 2015 at 4:58 pm

    Dear Sir
    Namaste

    i want to deposit RS. 2000 Per month in ( Monthly interst Scheme) for 05 years

    I have some query

    1. Can I deposit amont through online or not
    2. If Suppose i have open account in Branch Name – A & I Can deposit my amount in Branc Namw B, C & other or not .
    3. Total interest rate.
    4. Centralise withrow facilities are there or not
    5 i can open my account through online or not

    Regards
    rajesh singh

  6. pawan kumar
    October 26, 2015 at 7:54 pm

    Sir l am work in private sector as a fresher. Whose scheme is suitable for me

  7. Dakshina Jamatia
    October 7, 2015 at 9:42 am

    Sir. I am planning to open an RD Account on from November,2015 for sum Rs :2000 per month for five years only. Please tell me the rate of Interest. and Maturity amount of the RD. What are the system of calculation.

    thanking you sir,

    • Raman Debbarma
      October 14, 2015 at 8:42 am

      Sir. I am planning to open an RD Account from November,2015 for sum Rs :2000 per month for five years only. Please tell me the rate of Interest. and Maturity amount of the RD. What are the system of calculation.

      thanking you sir,

  8. Dipankar Mukherjee
    July 7, 2015 at 3:53 pm

    I was opened a RD accout in Post Office for Rs 6000/- per month for 5 yrs with effect from 07 Jul 2010. please tell me how much maturity value and rate of interest

  9. Rahul
    February 26, 2015 at 5:25 am

    Sir ,
    I have taken RD of Rs. 1100/- in the year May 2009 for 5 years and it was extended for 1 more year
    Kindly give me the interest which i get right now and let me know the calculation of interest

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    November 7, 2014 at 2:08 pm

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  11. pawan kumar
    May 27, 2014 at 10:43 pm

    sir
    what benefit i get with saving scheme. like— RD,monthly deposit 1,2 & 3

  12. snehal
    February 10, 2014 at 10:31 am

    Hello

    I don’t have any bank A/C and I am not interested in opening any. Now, is there any method to have my monthly deposit post recurring account’s money by cash. Please help.

  13. Snehal Shah
    February 10, 2014 at 9:56 am

    Sir,
    I have not an A/C in any bank and I am not interesting in opening A/C in bank then what is the method for having money by cash from post-office when closed monthly post recurring 5 years scheme?
    Please answer

  14. Lekshmi
    August 19, 2013 at 11:11 am

    is this scheme is available to NRI’s?

  15. Puttan Lal Maurya
    December 17, 2012 at 2:08 pm

    Sir. I was open an RD Account on July 2009 for sum Rs :8000 per month and an other Rs : 8500 per month . for five years only please tell me the rate of Intrest. and Maturiy amount of the same RD. What are the system of caculation
    The other RD Is Rs : 1700 per month for five year opened on July 2012. also calculate maturity amount.
    thankin you sir,

    Please Email to me My Email is : puttanlal.maurya@rediffmail.com

  16. somnath dutta
    October 6, 2012 at 8:33 am

    Sir,
    Am not able to deposit the money in reccuring a/c.what happen ?is any charge will apply by post office???

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