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S. K. Raghav

financial advisor for small saving

Post Office Recurring Deposit Accounts

Indian Postoffice Savings

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 :

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.

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    60 Responses to “Post Office Recurring Deposit Accounts”

    Sangeetha [ 08Sep08]

    Hello Sir,

    Post Office Recurring Deposit Accunts is it exempted from tax? under what section is it exempted?

    I would like to invest montly for a short period may be five years and would like to get exemption for the same.

    Please advice.

    Thanks in advance for ur reply.

    Thanks & regards
    Sangeetha S

    PANKAJ KUMAR [ 08Sep08]

    COULD YOU PLEASE EXPLAIN THE MATURITY AMOUNT OF RS 100.00 RECURING DEPOSIT WITH POST OFFICE RECURRING DEPOSIT FOR FIVE YEARS

    mitra [ 10Sep08]

    2 questions:

    1) If someone opens this a/c on behalf of a minor, can he avail income tax benefits?

    2) Can the post office a/c be shifted to other post office in another city?

    Prasanna [ 26Sep08]

    COULD YOU PLEASE EXPLAIN THE MATURITY AMOUNT OF RS 750.00 RECURING DEPOSIT WITH POST OFFICE RECURRING DEPOSIT FOR FIVE YEARS

    Yuvaraj V [ 20Nov08]

    Hello Sir,

    Post Office Recurring Deposit Accunts is it exempted from tax? under what section is it exempted?

    I would like to invest montly for a short period may be five years and would like to get exemption for the same.

    Please advice.

    Thanks in advance for ur reply.

    Thanks & regards
    Yuvaraj V

    Vijay [ 27Nov08]

    Tax benefits are available for PORD under section 80L of income tax. you can show 11,000 Rs per year under this section.

    The post office account can be shifted to any postoffice

    Ajay Godse [ 09Feb09]

    I want to take agency for Recurring deposits. Will guide me?

    waiting for your reply

    Ajay Godse

    Sreenivas [ 12Feb09]

    What is the rate of interest on Post Office recurring deposits?

    If I put monthly 1000 Rs for 5 years, how much I will get back?

    Any Tax benefit?

    Transfer of Post office to other cities?

    Thanks,
    Sreenivas

    Sreenivas [ 12Feb09]

    What if I want to cancel with in a year or two.

    sampath_165 [ 16Feb09]

    for account detels

    Anand [ 26Feb09]

    Sir,
    could you please explain the maturity value of Rs 300/- recurring deposit with post office recurring deposit scheme for 5 years.

    Srinivas [ 13Mar09]

    if i open RD at post office near by our area(say Tumkur, karnataka)at first time by paying Rs.500. Can i deposit the next deposit in bangalore post office to same account?

    Sayan [ 13Mar09]

    What is the rate of interest on Post Office recurring deposits?

    If I put monthly 500 Rs for 5 years, how much I will get back?

    abhijeet [ 17Mar09]

    sir,
    iam an engineering student, and i can invest a 1000 every month… can u please guide me with the saving plans… my saving requirement is short term… n i want it at minimum risks…
    perhaps post office is the best option i feel, but wud u please help me.
    regards.

    sanjeev kumar [ 31Mar09]

    Sir,

    Kindly whether income tax rebate u/s 80-c is available on 5 years postal recurring deposit for f.y 2008-09

    M.Lakshmi narayanann [ 29Apr09]

    Sir,

    If i am pay monthly Rs 1000 for five years what will be the return sir

    Thanks in advance for your reply

    With Regards

    M.LAkshmi Narayanann

    kosha [ 02May09]

    sir,

    Can the amount deposited in recurring deposit account of post office be claimed as deduction in computing income tax?

    thanking you

    Gagan Deep Gupta [ 26Jun09]

    Hello
    I am looking for some saving schemes, like RD. Please let me know which policy/scheme provided with post office?

    Thanks in advance

    nagaraju padma [ 01Jul09]

    sir,

    I deposited in bank of baroda in my daughter name (age 6 years) for 5 years.
    is it tax saver.
    thanking you sir.

    chhaya Salvaji [ 15Jul09]

    How can transfer post office Recurring deposit account from Baroda (Guj) to Mumbai (Maharashtra).
    Branch.
    Please let me advice …..

    chhaya Salvaji

    surbhi gupta [ 21Jul09]

    hi,
    If I invest Rs1000 monthly in post office RD does it come under 80c tax exemption?

    Also does interest received after 5 years is exempted from Income Tax and if so which section?

    Siddu [ 21Jul09]

    I am investing in postal Recurring deposit Rs. 500/- PM for the period of 5 Years, Can I withdraw premature, Please advise

    abhi [ 07Aug09]

    If i pay monthly 5000

    what is the maturity amount, ppl tell me the interst rates also.

    satish kumaar [ 07Sep09]

    9844350483/9901844362

    Regarding how to get agency from postal department of small saving

    Debra [ 25Sep09]

    Please explain more on this relating to RD.For advance deposits, including deposit for current month, rebate is allowed at the following rates:

    Denomination Rs.10:
    6 advance deposits…….Re. 1/-
    12 advance deposits…… Rs. 4/-

    If I plan to invest Rs 5000 every month, and pay twelve months deposits in advance how much do I save?

    C.D.Thomas [ 27Sep09]

    Iam an NRE, can I start a recurring deposit in my daughter’s name (11 years). What is the minimum and maximum monthly amount can be deposited. what will be the maturity amount for a monthly deposit of Rs.1000 for 60 months. Please reply in mail.
    Thank you.

    basha [ 01Oct09]

    I am investing in postal Recurring deposit Rs. 500/- PM for the period of 5 Years, Can I withdraw premature, Please advise

    amresh jain [ 07Oct09]

    i wants r.d. ac. maintain softwer

    amalanathan [ 16Oct09]

    Sir,

    Kindly whether income tax rebate u/s 80-c is available on 5 years postal recurring deposit for f.y 2009-10 and my huspand RD eligible please clarify

    Rima [ 23Oct09]

    1. how can i tranfer post office recurring deposit account in my minor daughters name from Maharashtra to Kerala
    2. Can i deposit the premium due in kerala when the recurring deposit account is in Maharashtra

    raman agrawal [ 26Nov09]

    sir
    i want some information that if i open a/c on b/f of minnors name and after maturity we want matuare amount cheque in the name of mainnore is it is possibal

    K.N. MURTHI [ 27Dec09]

    I am of over 70 years by agde. If I deposit
    in a 5 year R.D.Post Office Account, Will I
    get any extra rate of interest as a Senior Citizen?
    KN MURTHI

    Harish Sharma [ 02Jan10]

    Post office account be shifted to other post office in another city?

    a.mani [ 04Jan10]

    what is the rate of interest in post office?

    shsankar [ 07Jan10]

    I would like to save Rs1,000 per month for 30 years
    how much i will get after maturity

    Ashutosh [ 07Jan10]

    what is the maturity amount after 5 yr in reccuring deposit if i deposit monthly Rs 300

    mr a pereira [ 08Jan10]

    Want to become an agent of post office saving schemes. Kindly guide how to obtain the agent number

    Ankush S. Sutar [ 09Jan10]

    I am the member of RD with Rs.500 per month.
    Post Office Recurring Deposit Accunts is it exempted from tax? under what section is it exempted?

    I would like to invest montly for a short period may be five years and would like to get exemption for the same.

    Please advice.

    VANITA LAMBA [ 13Jan10]

    If i pay monthly Rs 2000 for five years what will be the return.

    Thanks in advance for your reply

    Regards,
    Vanita

    raja iyer [ 21Jan10]

    sir please let me know the maturity amount after five years on Rs. 300 per month recurring deposit along with interest

    pawan kumar [ 31Jan10]

    Rate of interst on post office recuring deposit. if I put monthly Rs. 4000 for 5yrs. how much i will get back.
    any tax benefit.

    vinod kumar [ 18Feb10]

    sir
    i have recurring deposit account in post office
    i will deposit the amount in po for 5yr 1month
    and become it maturity time is 10year account opening date is 28th jan 2000 what is the maturity amount

    preethi [ 01Mar10]

    what’s the maturity value of Rs.500 in RD after 5 years?preethi

    ashwathi [ 07Mar10]

    Post Office Recurring Deposit Accunts is it exempted from tax? under what section is it exempted?

    meherprakash [ 12Mar10]

    if i invest 3000/monthly in post office RD does it come under tax exemption.09215189226,09416651760

    K Keshav Nayak [ 15Mar10]

    what shold i do to extend the period by 10 years on completion of 5 tyear term for my RD? DO they have any prescribed applicationfor extending validity or will a letter addressed to the PM suffice? Reply to my Email address above.

    BIJU B [ 27Mar10]

    I am working in a private firm.To save income tax I would like to invest in post office Recurring Deposit scheme. Is post office recurring deposit scheme valid for saving income tax while working in a private firm?

    SP [ 08Apr10]

    Hi,
    I planning to deposit 1000 per month,
    Could you please let me know how much i will get after 5years.

    Thanks.

    geetha [ 15Apr10]

    What is the rate of interest on Post Office recurring deposits?

    If I put monthly 1000 Rs for 5 years, how much I will get back?

    Any Tax benefit?

    Transfer of Post office to other cities?

    geetha [ 15Apr10]

    I am looking for some saving schemes, like RD. Please let me know which policy/scheme provided with post office?

    RAJENDRA KUMAR MONDAL [ 22May10]

    RAJENDRA KUMAR MONDAL
    VILL-PALPARA
    POST-GONPUR
    DIST-BURDWAN
    PIN-713160
    PHONE NO-9434586372

    pradeep kumar dash [ 19Jun10]

    Dear Sir,

    May I know what are the documents required to open a rd account in post office.

    Pradeep

    ravi [ 20Jun10]

    any tax exemption ?

    Venkat [ 24Jun10]

    Iam lloking for invest in monthly income scheme and the monthly income invest in recurring deposit scheme. Is the recurring deposit scheme can be extended to 6 yeas from 5 yers?

    MANOJ [ 04Jul10]

    Dear Sir,
    If 1000/- p.m. we deposit continuously for 5 years as recurring deposits, how much pension i may get afterwards. Please reply in details and other benefits also in details if any on my e-mail address.
    Thanks. waiting for your early reply.

    purna [ 04Jul10]

    could you please let me know what will be the maturity amount of Rs.2600/- per month in R.D after 5 years

    aul shah [ 08Jul10]

    dear sir,
    latest ruls from post department is for new open r.d. a./c. is three p.p. fota and i.d. proof and address proof for same person often is how much resanoble ? investo in r.d. are not
    satisfied by thise new rulse of post dep.pls.
    be practical in this matter. now so many investor has stopped saving in post r.d.scheme.
    thanks..

    mrs. varghese [ 09Jul10]

    sir,

    Since the Recurring deposit amount is paid through an Agent by Cash and the Pass Book is being kept by him/her, is there any provision that the lapse of monthly payment,if any, by the Agent is informed to the R.D.Accountee ? Please let me know ?

    Deep Dhanotiya [ 15Aug10]

    hi, sir please send me a excel based sheet of post office reccuring deposit in which we manage our all coustmers accounts

    JEETU [ 15Aug10]

    Hello Sir,

    Post Office Recurring Deposit Accunts is it exempted from tax? under what section is it exempted?

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