All about Post Office Recurring Deposit (RD) Account Scheme

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Is Post Office Recurring Deposit (RD) Account Scheme is one of the best recurring deposit scheme in India? Many of us invest in this product. However, we hardly know the rules and regulations of the same. Let us see rules in details.

Post Office Recurring Deposit (RD) Account Scheme

Who can open Post Office Recurring Deposit (RD) Account Scheme?

The Post Office Recurring Deposit (RD) Account Scheme can be opened by anyone of the below-mentioned individuals.

1. A single adult.

2. Two adults jointly (Remember that in case of joint accounts, the maturity amount will be payable to both jointly or survivor or to either of them or survivor). A single account can be converted into jointly and vice versa.

3. A guardian on behalf of a minor or a person of unsound mind.

4. A minor who has attained the age of 10 years, in his own name. This rules may not be known to many. However, it is the truth that if your kid is 10 years or more, then he can open the account in his name itself. Guardian is not required for such accounts.

A single depositor may have more than one account in his name or jointly with another individual. NRIs (Non-Resident Indians) are not eligible to open the Post Office Recurring Deposit (RD). Also, HUFs are not eligible to open the Post Office Recurring Deposit (RD).

However, if an individual opened the account and after that he becomes NRI, then he can continue the account till maturity on a  non-repatriation basis.

There is no maximum age limit to open the Post Office Recurring Deposit (RD) Account Scheme.

Tenure of the Post Office Recurring Deposit (RD) Account Scheme

It is 5 years scheme or 60 months scheme. Therefore, the maturity period will be 5 years.

Minimum and Maximum Deposit in Post Office Recurring Deposit (RD) Account Scheme

  • The minimum amount to deposit in Post Office RD is Rs.10 and in multiples of Rs.5.
  • There is no such maximum limit specified.

What is the interest rate of Post Office Recurring Deposit (RD) Account Scheme?

Currently, as per the new rules of Post Office Saving Schemes 2016, the interest rate will be declared on a quarterly basis. Hence, while opening the account, you have to track what is the rate of interest for that particular quarter. Based on that the interest will be fixed for your RD. Refer this post for the changes “Post Office Savings Schemes -Changes effective from 1st, April 2016“.

Tax Benefits of Post Office Recurring Deposit (RD)

There are no tax benefits available by investing in Post Office RD. However, the interest income should be considered as taxable income. This interest income will be taxed under the income head of “Income from Other Sources”.

There is no TDS on such accumulated corpus. But it is purely depositor responsibility to declare the income and pay the tax as per his tax slab.

When to deposit Post Office Recurring Deposit (RD) Account Scheme?

The first investment should be at the time of account opening. After that let us say you opened the account between 1st to 15th date of the month, then subsequent deposits must be within 1st to 15th of a month.

However, if the account opened between 16th to the end of the month, then you can deposit on any day between 16th date to end of the month.

If a deposit is made by means of a cheque/pay order/DD, the date of its clearance into the Post Office Savings Bank will be considered as the date of deposit.

Nomination facility in Post Office Recurring Deposit (RD)

You can nominate during account opening time or even after the opening of the Post Office RD at your ease.

What if you failed to deposit or default in Post Office Recurring Deposit (RD)?

# If defaults are not more than 4 months-If your default is not more than 4 months (7 months for  personnel of Defence Services (excluding Civilian Defense Employees)), then you can extend the maturity date to equal numbers of such defaults. For example, if you defaulted for 3 months, then you can extend the maturity date to 3 months. You can deposit the defaulted amount during such extended period.

# If defaults are more than 4 months– If there are more than 4 defaults ((7 months for  personnel of Defence Services (excluding Civilian Defense Employees)), the account will be treated as discontinued. The revival of the account will be permitted only within a period of two months from the month of fifth default.  If the depositor fails to deposit next monthly deposit within this time prescribed, a default fee at the rate of 5 paise for every Rs.5 per defaulted deposits will also be paid along with a regular monthly deposit.

If you deposited all defaulted deposits along with prescribed default fee and within a prescribed time, then the account will not be treated as discontinued.

Advance deposit facility in Post Office Recurring Deposit (RD)

You can deposit in advance into your Post Office Recurring Deposit (RD). But the minimum such advance deposits are 6 monthly installments. You can opt this option at any point of time in a month. There is a rebate for such advance deposit and it is as below.

# If you deposit more than 6 but less than 11 installments in advance in a month-Rs.1 discount for each Rs.10 installment. Therefore, if you are depositing Rs.10,000, then the discount is Rs.1,000.

# If you deposit more than 12 installments in advance in a month-Rs.4 discount for every Rs.12 deposits and one rupee for the balance, if any, of not less than six deposits.

Premature closure of Post Office Recurring Deposit (RD)

You are allowed to close the Post Office Recurring Deposit (RD) at any point of time after 3 years of completion. But you will not receive the RD interest rate on such premature closure account. Instead, Post Office will pay you the savings account interest rate.

However, premature closure is not allowed until the period for which the advance deposit made in cases of advance deposit in RD.

Whether you can extended the Post Office Recurring Deposit (RD)?

Here you have two options to extend and I explained the both as below.

1) Extension of Post Office Recurring Deposit (RD) with the contribution

If you completely paid 60 monthly installments at maturity time, then you can extend the account for further 5 years. However, this extended account is considered as fresh account for deposit and interest rate calculation. The new RD rules will apply to such extended account.

The only exception during this extended period is that you can discontinue the account at any point of time. There is no such hard rule that you must complete another 3 years to close it.

However, you will not receive the RD interest rate for such premature closure accounts. Post Office will pay you the savings account interest rate.

2) Extension of Post Office Recurring Deposit (RD) without further contribution

If you completely paid the 60 monthly installments at maturity time, then you can extend the account for further 5 years without any further contribution.

However, if you closed the account before the 5 years (at any point of time you can close it), then you are entitled for the post office savings account interest rate.

What if the depositor dies before the maturity of Post Office Recurring Deposit (RD) Account?

In the case of the death of depositor in a single account or both in joint accounts, your nominee will not be allowed to deposit in such accounts.

Nominee or legal heir is allowed to withdraw the full value of RD account as of today immediately.

However, below is some exception to it.

If 5 years completed but not extended, then such account will be eligible for savings account interest rate (for the period of the days after maturity).

If less than 5 years completed, then nominee have rights to withdraw the money at the time of maturity, then the savings account interest rate will be applicable for such amount to till maturity period.

In the case of joint accounts, if one holder dies, then the surviving holder can continue the account as usual. However, if the surviving account holder wish to close the account, then he can close it at any point of time.

In the case of death of a guardian, the new guardian may close the account at any point of time.

Advance withdrawal facility in Post Office Recurring Deposit (RD)

If your account is not in a condition of discontinued, then you are allowed to withdraw after a year (or 12 installments paid) but not more than 50% of the deposits made into account.

You can repay at any point of time before the closure of an account. They charge some simple interest on such withdrawal.

If you have not paid the due advance and interest on that, then at maturity time, then during payment such withdrawal is recovered and paid to the depositor, nominee or legal heirs as the case may be.

Procedure of minor attaining the majority in Post Office Recurring Deposit (RD)

  1. Minor can continue the account till maturity by writing a letter to Post Office as ““I hereby declare that the Post Office Savings Bank General Rules, 1981 and the Post Office Recurring Deposits rules 1981 have been read by/to me and that I accept the said rules and all such amendments thereto as may be issued from time to time as binding on me”.
  2. If he intends to stop then he can do so by claiming the proportionate amount.

How to open Post Office Recurring Deposit (RD) Account Scheme?

# First select the Post Office where you want to open the account. Remember that you can transfer the account anywhere in India at a later stage.

# Fill the Post Office Recurring Deposit (RD) Account Opening Form. Download the same HERE.

# Furnish all details provided in the form like PAN details, address proof, nomination details.

# You must carry original PAN Card, Address Proof, and ID proof for the in person KYC verification purpose.

# Submit the same and start operating the account.

Post Office Recurring Deposit (RD) Account Scheme -Best recurring deposit plan?

After reading all features and benefits of the RD, do you feel that it is BEST RECURRING DEPOSIT PLAN? My thoughts are as below.

# Liquidity is an issue. Hence, I try to avoid the product as much as possible.

# Online facility of deposit is yet to takes place. Hence, operating the account may be cumbersome (Only option is to link the post office savings account to the recurring deposit account for standing transfer instruction to the RD.)

# There is no tax benefit. Hence, no point in investing for your 5 years goal as a debt instrument. Instead of that, short-term or ultra short term debt funds feels more tax efficient.

# Treat this product as debt product. Hence, safety, liquidity, and tax efficiency must be your priority rather than return expectation.

# Rules may confuse many or few Post Officials may not know the rules completely. This may turn to be the biggest hazard in investing and operating RD account.

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376 Responses

  1. It is learnt that in case of extended RDs(Beyond 5 years) the rate of interest applicable is the same as on the date,of initial deposit(5 years back), Is it correct?

  2. My Post office RD is getting matured this month but I am not in India this whole year, is there any online mode available from where I can withdraw it.
    Any help or suggestions are highly appreciated!!

    Thank you

  3. Hi,

    My Dad had renewed his Post Office RD and at the end of 10 years on maturity, he was paid the interest together earlier this year.
    However, as the RD is across 10 years, can we divide that interest by 10 to arrive at interest for only this FY and pay tax on that? Also, post office has not deducted any TDS on this.
    As tax on RD interest rule is only for last few years, should we still pay tax on the whole interest amount, which is for the last 10 years?
    Thanks

    1. Dear Aishwarya,
      You can’t carry forward or backword this income. Instead, you have to show it in income and pay the tax as per the applicable tax rate for him.

  4. Hello sir,
    I started RD account on 15th July 2017 and continue my deposits for 24 months but due to financial conditions i stoped my installments. Today I received a message for account maturity. Sad part is the account was opened in bangalore and now i am in Gurgaon. Can i close and withdraw money from Gurgaon. I have Indian post office savings account.

    1. Dear Kishlay,
      If both the branches are centralized, then you can withdraw. Otherwise, sadly you have to visit the concerned post office.

  5. What if my maturity is due 6 months and i pay all the money in advance. Can i withdraw my matured rd or i will have to wait untill it reaches maturity date

  6. Sir,
    My MIS matured this year. I want to know that whether whole amount is taxable or only the interest?

  7. Respected Sir,
    I opened RD in post office in year 2019 and in march 2021i relocated abroad for contract of 3 years. Can I continue my RD or I have to close them as they would get matured in 2024? I am really confused as I am not able to get clear details
    Thanks

  8. Sir
    I have opened rd in 2016 monthly rs. 10000
    Maturity is 1.1.2021.
    Continued for further and paying r d. For a period upto my daughter’s marriage likely to b held during 2024 I.e., three years extention from 1.1.21..
    Roi is 8.5. At the time of opening the r d.
    Will I get the same roi.
    What is the amount I will get appx. In 1.1. 2024

    Whether interest is taxable…
    Pl reply

    1. Dear Cheeha,
      You will get the interest as per the current prevailing rate once you extend. Interest is obviously taxable.

  9. Hello sir,

    I have opened RD account in 2018 and is due to mature in the year 2022 December. I’ve been regularly making payments to PO for the RD account and no penalties till date. I had been to PO to withdraw certain amount (less than 50% of what I had in 3rd year), but the PO people bluntly say, we are not allowed. It’s for an emergency I’m trying to withdraw and these people without asking for a reason, they directly say – No. I’m planning to close the account, would it be possible? I still have an year left to make the deposit to complete 5 years. Any insight would help me to tackle this situation. Thank you

  10. Sir
    My name is krishna I paid 4 months rd after that I noticed that agent was not paying amount regularly so I was not paid amount 8 months now one year completed I want withdraw rd amount or closing id possible.

  11. Dear Basu,
    Suppose if one wants to open a RD, then do he/she needs to show the source of income? Because I read on India post website ‘The customer has to submit copy of document showing source of receipt of funds tendered for investment’ for high risk customers. if yes, what can be shown? Secondly, can a nri’s wife, who is living in India and jobless/housewife, can open a RD? If yes, what can be shown as source of income?
    Thanks for your reply.
    Raja.

    1. Dear Raja,
      I don’t think one has to show the income proof to open RD. You can do it. Yes, wife of NRI can open the RD.

  12. Hello sir,
    I’m paying 5000rs p.m. as RD in post office.
    But due to uncertain events I want to discontinue RD , as I ve paid 15 installments, I cannot withdraw for next 20 months.
    Atleast can I reduce the deposit amount to 500 rsor 1000rs???

  13. Hi,
    I recently received my post office deposits from my father which he made when i was a minor and now i am 30 year old, what documents do i need to close my deposit and receive the money.
    Thanks in advance.

  14. Sir
    If post office RD account was extended for 5 years after maturity but the party died after 8 years. What is the interest rate is applicable to this extended account and ruling please

  15. Hi,
    My post office RD matured on April 2021. The agent agreed to open a post office SB account for transferring matured amount from RD to SB account.
    After amount transfer, my presence in post office is mandatory for any kind of transaction or is Internet banking available? If yes, should I go to post office at least once for enabling internet banking?

  16. I have just renewed my Rd after 5 years. I just want to know whether I will receive interest for 10 years or 5 years on my first installment of recurring deposit . How can I know what will be maturity amount of my RD.

    1. Dear Raj,
      If you renewed your RD, then you will get your contribution of 10 years and interest on it at maturity. Check with Post Office to know about exact maturity value.

  17. Sir,
    I have One RD Account in a Tamil Nad (TN) Post Office. I live in Karnataka. RD Account was opened with my Karnataka residential address. All instalments have been paid and the account has now matured for repayment in May 2021. I have a valid and active P. O. S B Account in the town of my residence in Karnataka.

    As Senior Citizens (self and my husband), owing to Covid – 19 conditions, we have not travelled out of our place of residence for the past two years. For the TN RD account closure, the Account closure form (SB – 7A) and the RD account Pass Book were presented to the RD Account-holding TN Post Office through a representative, seeking closure of my matured RD Account and transfer of the proceeds by TN Post Office to my Karnataka Post Office S B Account.
    TN Post Office insists on my personal presence at the TN Post Office.

    As a measure of safety, Govt. advisories and doctors advise people — particularly senior citizens — not to go out unless absolutely unavoidable. Is the insistence of the TN Post Office for my personal presence correct ? Is there any way we can avoid travel to TN Post Office from Karnataka for this purpose? Please advise.

    1. Dear Lakshmi,
      These guys not understand the situation. But they have to follow the rules at any cost. This is the biggest issue with Post Office. Better you wait for some time and then approach physically.

  18. Dear Sir,
    I have submitted in post office rd by agent to 2 years 8 month but with some
    financial problem as well as agent behavior not good I wish to close it after 3 years. He is saying that it will require to submit 37 months regular. In my updated account
    he has given 1 default in mean though I submitted in regular. Please clear me if I really need to submit 37 months to closure my account or I can withdraw it after 36 deposit. Is there some rule or required sign by agent to withdraw my money.

  19. Hello Sir
    My RD and MIS accounts are already matured in march20. But I was not able to get it closed and collect money as I am out of India since then and my stay got extended here . I had already made power of attorney on my father’s name earlier .( notarized )
    The post master is not allowing to close it saying that my proof of existence is required .
    Is there any way to get those money back . ( it will only be able to go back after 1 year )

    Thanks in advance

      1. Thanks sir for response . And appreciate this , as it is helping numerous common people .
        Is there any time limit by which I will have to close these account. It is already 1 year and probably one more year , as I will be returning India next year .
        Is there any rule so that Post office will make my accounts dormant as no body claimed money and forfeit my money after specific period . I just wanted to know that my money until then .

        Thanks in Advance
        Brijen

  20. I did Rd account in post office by Rd agent,but unfortunately Rd agent expired.now I don’t now my Rd account no.how to recollect my account no and do further . Pl give suggest.

  21. Can I close prematurely before 3 years as I am not in the situation to continue due to family commitments.. please suggest me some options. TilI now paid 12 installments.. cannot continue further

      1. AS Above Situation I discontinued the Account due to Emergency And I paid 12 Installments And there is gap of 4 months can i withdraw the amount of 50%..Any chance ?

  22. Hi Basu,
    Is there a rule that all RDs opened after May-16 would need to have a savings account opened with the Post Office? For my RD, which matured in May-21, the post office is asking me to open a savings account and maturity proceeds will be transferred to that account. Is this a mandatory requirement?

  23. Hi I have a rd account in post office from last one year it’s a 5 year plan now after one year I want to cancel the rd account what will be the procedure

  24. Hello, After maturity date my mother put all money into fixed in post office as post officer told us to do and he also took RB book which has all the proof. Now he took all the money we don’t have any proof of fixed money how to take legal action against him please help anyone .

  25. Hi sir,
    My father RD scheme is matured but when I went to office for withdrawal then post office employee said me you can withdraw only 25k amount at the one point of time.
    He is not allow us to withdraw full amount at one point of time.
    Kindly suggest me it’s the only way of withdrawal?

  26. How did I unlink my RD account from an agent .
    The agent deposits the amount at his own freee will which I am not liking ,so I wanted to do this job on my own.So how do i unlink my Rd account which is through an agent and link it to self

  27. My postoffice rd account is getting matured by next month(april 2021). How do i transfer that matured rd to my savings account through internet banking? Please advise

      1. I asked to postoffice staff, and she said that you can get that amount in online. Before april im planning to move abroad. Is there any possibilities to get that amount once after it has matured ? All my kyc details are already submitted and linked in my postoffice account

  28. Sir I have RD account at postoffice. I have failed to deposit installment from 1 year. I account is discontinued. Can I continue it ??

  29. Sir, I opened the Rd account in post office in March 2020. I paid 4 installment through IPPB app. of post office.But due to some reason failed to deposit 4 installment. Now my RD number is frozen. How to unfreeze the RD number?

  30. Hello,
    You mentioned about a person originally Indian becoming NRI after opening the account is allowable. What is the procedure for closing the account and transferring the money into an NRO (non-repatriable) account after the maturity if the account holder is not present in India! Can simply a cheque be issued on account holders name ?

  31. Hi Sir

    My RD account is metured during November 2020. But for some reason I have not yet withdrawn my money.
    I can only visit the account opening branch by Apr -2021.

    Is there any time lapse or specific period with in I need to withdraw my money?
    Would there be any issue if I wait till Apr – 2021?

  32. My mother opened RD in Guttavilli (BO). Of Burjamandal, Srikakulam Dist.. In 2016. Now the maturity date over.. We paid all installments in online.
    We consulted BPM. He toldme go and meet SO office burja. Is it right manner to get withdrall the maturity amount.

  33. I tired to pay RD through IPPB, notification shows pending instalment is less than paid instalment. What does this mean?

  34. I have open Rd in March 2016 against advance deposit of interest of 5 yr TD in the same branch . I have saving account also on same branch of post office.
    I have deposit my installment upto March 2020 but I cannot transfer the interest of TD in Rd because of covid & lockdown after curfew . So I cannot transfer interest of TD in Rd .can I transfer interest of TD in Rd ?

  35. Sir,
    I had opened a Rd in indian post which has matured in this year,confusion is that the employee are asking to open saving account to transfer the withdrawal amount,
    Can you clarify as is it mandatory to open saving account or are their any different modes like cheque or other bank account transfer which can be opted.if possible elaborate withdrawal process for mature RD with requirements

  36. Hello sir, I have started my rd on 2jan2021 with 5000rs per month…but due to some problem i dont won’t to continue…If i close the rd what will happen…when i will get my 5000rs back…

  37. Sir, I have paid 5 instalment of RS 1000per month and stopped paying of amount monthly from past 2years, so can I withdraw my amount now,

  38. Sir / mam

    I have a question..
    My 5 years of RD paid successfully..
    However I am unable to come to Chennai office and withdraw the amount ….

    How can I get my money back….

  39. Sir,
    I started rd on 9th jan 2018 by 9th jan 2020 i m completing 3yrs. I asked the concern representative to close my account. My doubt is if I close the account in jan means I will get cash in in feb or In the same month I will get the cash.

  40. Dear Sir, I have opened a RD account in post office with the monthly contribution of RS.8000 on Jan 24th 2016. I paid the monthly contribution till 3 years 1 month (total 37 months) and later I discontinued for 2 years. It is getting matured on 24th Jan 2021 (Next Month). What would be the maturity amount at the interest rate of (8.4%)? Will I get the interest for the discontinued period?

    1. Sir, I want to know whether I will get the interest for the discontinued period (2 Years) on the outstanding balance at the end of 3 years at the rate of interest 8.4%?

  41. Sir, I have completed60(sixty) monthly installment of 5(five) years R.D. at post office last month . The interest rate was 8.40%. Now, if I continue the R.D. for another 5(five) years. @ Rs 10000/- per month , what will be interest rate and maturity amount after 10(ten) years. Please comment.

  42. My father opened an Rd but we would like to discontinue. But post office informed us that we have to wait for 3 years? Is it mandatory? Is it possible to close the account by doing advance deposit until 3 years?

  43. Sir I opened an Rd account for 5 years in post office but defaulter since last 8 months. Can I discontinue and close the rd account ?

  44. Dear Sir,
    My RD maturity is completed on December 2019. Due to lock down I couldn’t withdraw my amount. is it possible to transfer my matured amount in to my SBI account. if not what is the alternative process.

  45. Dear Sir,
    Opened RD account in my native town and it has matured now. Now I’m staying in different place in India. Can i approach post office near by and close my RD account?

  46. Hi sir,

    I opened Post office RD for 5 years but now I completed 2 years but right now i am not able to continue. Is it possible to close RD account?

  47. I have paid 4 rd installments but i am not able pay further installments can I close this account and how much amount will i get back .

  48. Sir,I have not paid my Rd amount for 6months because of locked down,now I am trying to pay with IPPB aaplication…but it shows the status that my Rd account is frozen.why it is so..?what should I do?

  49. Sir, now i’m completed my post office RD deposit 1 year, now i’m planning to take 50% advance and stop next deposits, what is the procedure? , we can stop this after receiving of advance? Balance 50% we will get after 2 years?

  50. Helo sir, I have to clear one last month of my 5 years rd period after that my 5 years will complete , when will they give money back sir..

  51. Sir, is aadhaar card mandatory to submit after the maturity of an rd account? Because I don’t have so I’m facing a problem, I thought only pan card is enough.

  52. Sir,

    I have a clarification on the rate of interest when RD account is extended. As per my broker, I will get the old rate i.e. 8.4% for account opened in June 2015. I checked various web sites and India POST web site but nowhere interest rate is mentioned for extensions. I also downloaded an app “Post Office Interest Calculator” by relicus global and that also says that old interest will continue.

    Please advise.

      1. Thanks sir for your quick help. Is there some reference that I can show him as many people are following my broker?

            1. Anuj Did you get the clarification on the same as my broker also saying same that old interest will continue for extended period.

  53. Dur to covid 19 I’m facing financial crises, I have made investment in only post office RD. two years have been completed, now I want to break RD as if I take loan it will be restricted to 50% only
    Plz suggest any means by which I can break the RD

  54. Hello Mr. Basavaraj.. I had an RD account with an agent who is not from my town.. I just wanted to know if the RD accounts that I hold with this particular agent are transferable to a nearer postoffice where I live. If so what needs to be done.. please guide me

  55. Is it mandatory to have a SB account in post office to collect the matured RD amount?

    Thanks for reply in advance

  56. Hi sir, I had a RD in post office ,maturity date is in April 2020.
    is my account will be discontinued.

  57. Sir my rd account has been discontinued from last two years.what is the procedure to get the amount that deposit ed.

  58. Sirji, Today Date-21/04/2020,
    My Recuring Account Amount Is 75000, So Sir Possuble, Today Withdrawl, Bcoz Uegent Need, In This Lockdown…!?

  59. I had opened PDRD account on Aug-2015.I have made only two installments..after that I stopped paying because I moved to different location..Can I get the two month amount which I had paid after maturity period ends

  60. Dear Sir,
    If i want to close my RD account prematurely after 3 years, what is the interest rate will apply. Whether it is rate of interest during opening the RD account or SB interest of that time?

    Thank You

  61. Sir can I draw rd amount only after 6 month from opening.i have paid only 2 month amount.but now I want to draw money.

  62. Hi sir,
    Can we deposit different installment amount each month?
    That is 500 in 1st month, 2000 in 2nd month and 1500 in 3rd month like this….

  63. Sir, I wanted to ask that on the request of the depositor can the RD account be transferred from one agent to another as the initial agent died?

  64. hello sir,i want to open 5000 rs per month rd in post office,if ican make advance payment of rs 60000 in starting ,what will be the rebate on that

  65. Dear Sir,

    My RD account is matured this month (Feb 2020) and would like to extend it for another 5 years with the same deposit amount. I read that the interest rate of my RD won’t continue and the new rates will be applicable. So it’s similar to closing the existing RD and opening a new one with a new interest rate, the extension only helps in not feeling the details and updating the forms again. Am I right here? Thanks in advance.

  66. Hello , I have opened RD Saving account at Post office(near where I stay) I deposit 500 RS every paid but after 5 times I stopped as I move to other place … so my balance is 2500 and this Aug 2020 I wil complete 5 years .. will I be eligible to claim with interest

  67. Hi, I have an RD account. Which were supposed to be matured on 29th-nov. But due to confusion my agent and I gave the application for account closer on 26th-nov (3days early) and account got closed by post office. I got a interest rate of savings account not the R.D. account.
    What we can do for this. Agent and I both got confused in the maturity date and Post-office counter person did not informed us that it is a premature closer.

    I lost around 20000/- just because we closed the account 3 day early. Please suggest what we can do to correct it.

    1. Dear Dhiranjan,
      As the maturity is few days away and you are eligible to close the RD after 3 years of completion, savings account interest is not applicable to you. Hence, you have reason to fight.

  68. Hello, My brother and my mother has joint account, my brother passed away, per your article my mother can close the account. What are the formalities and what paperwork is required for the same.

    1. Sir, I have been paying RD for 7 months now I want to close the account so now I can withdraw entire amount what I had deposited with the saving interest rate?or after 3year completion of mature time?

  69. Sir, my rd has matured. I want to withdraw the same. Is it possible to withdraw from any of the post offices. Or should I go to the concerned post office where I opened?

  70. Dear Basavaraj,

    I transferred my RD account to a different post office one year ago. After the transfer, the first payment into the account is not reflecting in the account statement. But there is no default in payment (or default fee) applicable as well. Now that I have made 26 payments, the account balance shows only 25 payments.

    Any idea this could be due to error in software?

    Whom should I approach regarding the issue?

    Kindly help.

  71. My RD has got matured this month. The agent is insisting me to an account with Indiapost to withdraw . Is the only way to withdraw my amount?
    Can’t I get this money in to any of my existing bank accounts?

      1. Sir i need ur advice.my rd is matured two years before but my rd copy is misplaced but i have rd number.how can i withdraw my rd amount.pls suggest

  72. Sir mene RD khula he aur 13 months mene deposite kiya abhi me surrender karna chahta because of financial problem. Is it possible sir..please suggest me

  73. insted of all verification during opening any RD can any account holder compelled to deposit his/her ID

  74. Is the nominee continue the deposit in recurring deposit account after the death of depositor.own his name.pls explain.

      1. Dear , basavraj. Pls read recurring deposit rules 1981 rule no.12 (2) maybe nominee his own name continues account.

        1. Dear Mahesh,
          Please understand the nominee rights. He is acting as a trustee of the asset but turned to be owner of the asset. In such a situation, how can a nominee claim the asset automatically and CONTINUE?

      2. My 22 rd installment are completed but some personal reasons around 6 month I am not paying any rd show what should I do now help me

  75. I have a RD account in post office. But I dont have saving account in post office. So my question is maturity amount can transfer in my SBI account ? what is the procedure.

  76. My Rd going to mature by next month. But my agent saying that I need to open a new bank a/c in SBI to withdraw the maturity amount. Is there any such rule? Can I withdraw the amount through any of my existing a/c with other bank?

  77. if a person stops depositing after 6 months in post office rd scheme will he get the deposit amount after 5 year

  78. in case RD amount withdraw for 4 years 11 months 29 days by mistake withdraw procedure done, now interest came for 3 years. now what to do recover all interest i.e. 5 years on amount

  79. Hi,
    I have an RD account in post office. I have paid for 45 months. My maturity date is next month but I want to withdraw the money now.
    Is it possible. If yes what is the procedure.

  80. Hello sir,i have an RD account in post office.From past 5 months i was unable to pay the amount.today when i went to post office to pay the pending amount ,they told my account got closed.Is that possible? Can I pay my amount further,what should i do next?

  81. Hi sir..

    My name is SEKHAR.. iam worked In privite sector. Sir iam paid 5months to postal RD.each month 6000.now iam stopped (discontunued)from 5months this. So how can i withdraw my amount? or How can i continue please tell me. .

    1. Dear Padmanabhan,
      No such rules, but you can advance as one withdrawal up to 50% of the balance allowed after one year. It may be repaid in one lumpsum along with interest at the prescribed rate at any time during the currency of the account.

  82. hi sir, i had made RD deposit for 60months, maturity date is came. now how to withdraw that amount?
    officer in the post office is saying to open a savings account in the post office. Is it must?

  83. Sir, i have rd account. If i deposit 12 instalment in advance can i get rs 1 rebate for each 10 rs for the remaining 48 installment. My monthly installment is rs 10000.can i get a rebate of rs 1000 for each month for the remaining 48 month(total 48000).

  84. Dear Sir, pls tell that to get full and final payment of matured RD is it necessary to open saving account in post office to take the money or post office can transfer it in our bank account directly.

  85. Dear sir,mere mummy ka RD account post office me tha but usme Nominni nhi register karwaya unhone ab mummy hamare bich nhi rhe and post office se bhi koi guidance nhi de pa rhe ki ham RD claim kese Kare ,to please hame btaye ki ham Kya Kare.

  86. Dear Sir, I have a RD account in postoffice in which I deposit an amount of Rs.5000 per month. This year I have got a rebate of Rs.2000 on an adavance deposit of 12 months amounting to Rs. 60000.They have calculated the rebate amount as 4 per Rs.10. So in 5000 I got a rebate of 2000. Is this calculation correct or should I get a rebate on amount 60000.?

    1. Dear sir,

      Can you explain how this correct amount, the post office provide us 1 Rs per 10 and 4 Rs per 12 as a rebate for such advance deposit, it should be more then 2000 SR if she deposit her 12 installments in a month according to below given information by your website.

      Please advise.

      Advance deposit facility in Post Office Recurring Deposit (RD)
      You can deposit in advance into your Post Office Recurring Deposit (RD). But the minimum such advance deposits are 6 monthly installments. You can opt this option at any point of time in a month. There is a rebate for such advance deposit and it is as below.

      # If you deposit more than 6 but less than 11 installments in advance in a month-Rs.1 discount for each Rs.10 installment. Therefore, if you are depositing Rs.10,000, then the discount is Rs.1,000.

      # If you deposit more than 12 installments in advance in a month-Rs.4 discount for every Rs.12 deposits and one rupee for the balance, if any, of not less than six deposits.

  87. Hi sir I m kalisha from vijayawada , i was opened a rd account in post office on my wife name on June 2016 . I was paid 6000 every month till Aug 2017, after that due to financial problems i didn’t continue the account.when i can get that my deposit amount from post office and how much I can get .

  88. Sir I opened Post office Rd on 3rd Jan 2018 one year ago & deposited rs.1.20 lakh in one go for one year instalment @ 10k pm but now I want to stop it @ withdraw it after one year please guide me how to do it. Regards R K Nigam

  89. Dear Sir, Our RD is finished 60 months we payed. We applied for maturity amount one weekfinished but we are not getting checK. Po is sharada nagar, hyderabad. 500070

  90. Hi sir,
    I am planning to open an RD account with 10000/- per month for 3 years period, if I open in a bank I see that tds is levied on it. But in post office rd as there is no tax, but it is 5 year plan if I want to close the post office rd in 3 years what will be the interest I be getting, should I choose to do it in a bank or post office , please suggest, thank you in advance

    1. Dear Naresh,
      Do you feel avoiding TDS means avoiding TAX? Regarding your requirement, you can open with Post Office and close it once it completes 3 years. You will get the same interest rate without any penalty.

      1. Sir , but as it is written in the blog “You are allowed to close the Post Office Recurring Deposit (RD) at any point of time after 3 years of completion. But you will not receive the RD interest rate on such premature closure account. Instead, Post Office will pay you the savings account interest rate” as the savings account interest will be just 4 to 4.5 percent which we get on a normal savings account then what difference does it make . if that is not the case then wat could be the approximate interest i can expect for rs10000pm * 3 years. Could you please suggest why and in what all ways it is better for me . Thank you

  91. Dear Sir
    I opened a RD account on Nov22,2015 for 5year tenure. But since Sept 2017 onwards I unable to deposit the said amount. My question is shall I withdraw my amount now.

  92. I have 3 rd account and due to some reason I have failed to submit monthly installment from 5 months and I want to continue it . What can I do

  93. Yearly recurring already paid for 49 months now 12 months is left and I dont want yearly debate to miss .earlier due to post mistake we had paid one month extra to save debate earlier now in last year how can I save yearly debate.pls advice

      1. I have a number of RD accounts in post office. I am extending them from time to time for 5 more years. But I am facing problem every time as the dealing hand says that I should apply for extension only on thedate of maturity and not even one day earlier or later.can you please clarify. PVR

  94. Hi, i had opened a P.O recurring deposit in 2007 and had paid the amount for a year. Then did not continue, can I still remover the money as its already crossed 11yrs.

  95. Sir,
    Please let me know non taxable long term (5 Year or more) fixed deposit options even in senior citizen schemes (actually I want to deposit 10,00,000 with paying any time of tax)

  96. 1) Extension of Post Office Recurring Deposit (RD) with the contribution

    If you completely paid 60 monthly installments at maturity time,…………………………..The new RD rules will apply to such extended account.
    In this above statement, please explain the the new RD rules for me. Actually I have done full payments and continuing an rd. When I started the rd the interest rate was 8.4. So when I am continuing my rd since the current rate now is 6.9. Shall I get the same old interest rate or the new rate for my continuing one and please let me know the interest rate for my money in finished rd. Also if I want to close continuing rd what will be the rate and procedure. Please help.
    Deepa S

  97. what will be the rebate if I pay 12 months installments in advance. At present, I am depositing Rs.10,000 per month

  98. Hello Sir,
    I currently have a RD running for the past 3 years (out of 5 years), I have opened it in my wife’s name, I was paying all the installments, now if I want to change the RD account to my name and continue for the remaining 2 year period, Is it possible?

  99. Hi Basava,

    I am having 4 questions.
    1) is there any possiobility to deposit 30laksh at a time in post office under this RD?
    2) can we change the nominee after next or next month like , after we opened the account with RD?
    3) can we close the account after 1 month ?
    exp: if we found best scheme in out side in such a cases.
    4) can’t we keep two keep two nominees ?

    Thanks,
    Prasad

  100. I have 5 Year Recurring Deposit (RD), and this is my second last month of maturity of RD, so

    should i have to pay last month installment or not?

      1. sorry i hvn’t understood…

        My recurring Deposit will complete in july, 17 this year….so should i have to pay july month installment or not?

  101. Can I shift my recurring deposit to another post office since my nearby one’s service is very poor. Often I have to come back due to system failure/slow /updation or rude behaviour of the clerks I curse even the time I thought of starting the RD

  102. Sir I deposit 12 months Rd in advance that is 24000 rs (2000 per month).what rebate will I get on this.

  103. Hi .. i have a RD in post office which is about to mature after 5 years which is 8.40% interest rate (started RD in 2013). I am thinking of renewing the RD to another 3 years and as per the blog i believe the new interest rate will be applicable as per April 2018. Please confirm. Also, would you be able to suggest a better option to FD or any other option for a better rate of interest for the amount which is matured now. Lets say the amount is 300,000 (5000 * 60 months). would you tell me the better option where will the rate of interest is more and Reliable ?

      1. Thanks for the reply. I am just asking if I want to invest 300000 the matured amount what will be the better option other than post office for a better rate of Interest and reliable organization.

  104. Does the interest rate for post office RD remains the same for whole five year term as at the time of opening or changes with change in interest rates declared for every quarter.

      1. My father has an account in post office rd deposit. But father is died before expiry of that account. But that account has defallt to pay amount. My father paid only three instalment.account opened on 20th february 2017.amount paid as instalment of rs. 500 in three instalment. My father is passed away on 22nd march 2019.so only paid three instalment. I’m nominee of that account.Because what is the procedures to withdrew that account after three years of maturity period?? Is Any amount is charged in this account before expiry of period?? What are details required to withdrew that account? Which rate of interest is get in that account?

  105. Hi, Basvarajjee

    I m staying in Mumbai and having Recurring Deposit Matured this month at Surat. My agent is forcing me to come to Surat Post office nd sign docs and receive cheque, he says I have to present there personally, is it so?

      1. I am also facing same issue? is it possible to send a signed RD withdrawal form to a relative and submit it to the post office? So that the amount could be transfer to my postal account?

  106. Sir ibhave a query that in 2013 i opened rd with 5000 monthly deposit for 60 months and maturity is 2018 February. I deposited total 300000 for 60 months now when my rd is matured on February 2018 the total amount i am getting is 330083. How can it be possible. When i asked the post master regarding this they told that the system is showing this only. Please help me what i can do to get the right interest amount.

        1. Sir i contacted post master he told that your date of maturity was 04.02.2018 sunday and I closed my recurring deposit on 03.02.2018. So i got interest as per saving account 4% nearly. So he told to give a letter about all this. And then he will pass on to senior superintendent and will see what happens.. Sir will i get my additional interest. I closed on 3rd feb by mistake not knowing that one day preclosure will cost me this much..

  107. I’m complete my post office rd scheme account in 2016

    But still I am not withdraw my Rd amount
    When I swift my home I am miss my Rd passbook and account number also

    Then now what can I do
    How to find my account number

  108. Hi, I have a RD account which has been matured, but now I am staying outside India. How can I close the RD account? Can I send an Email or Fax or should I physically sign? Once its closed it will be deposited to SB at post office? How to transfer to some other bank account?

  109. Sir ,I want to open post office RD @ Rs.5700 per month.if i pay 12 month rd amount (rs.68400/-)in advance then how much amount as a rebate I will get in one year?sir I have gone through your page regarding RD but I am not clear sir.plz explain.thanks

      1. Kindly give reply to at least one person sir….
        I m also wating for reply of same question.

        You allways reply same thing

  110. I want to open an rd account of my 8 mnth old son
    M confused with the documentation.
    What all documents would be required.?

  111. If one will not be able to pay suppose after 6 months , then will the person get something or total amount will be forfeited

  112. For Opening RD account Jointly, both applicant require to present in post office ?

    We are submitting all required document and First applicant is present. 2nd applicant is out of station but provided all document with signature

      1. So, If I make my RD account in Jamshedpur…
        I’ll be able to do deposits in any post office in Bhubaneswar…
        Right…??

          1. Thanx for simultaneous replies…
            How do we know whether a post office is connected with core banking or not..?
            Bcoz while fetching details of nearby post offices on the official website… There was a column for ‘Service’ and I couldn’t find ‘RD Account’ in it…
            So will I have to physically go and ask to the concerned Post Office for this…?

  113. Hi,
    When the RD amount matures after a 5 year tenure, the matured amount will be deposited to Post Office savings account? If so, can withdraw the amount next day itself?
    Thanks in advance,

  114. Dear Mr. Basavaraj jee .
    I Opened Postal Recurring Deposit for Rs.3600 per annum for five years in Jan 2015 through agent.
    The installments are paid before the due dates to the agent.the RD Pass Book is not updated by the agent instantly
    soon after the payment is made.I doubt the integrity of the agent.
    In this regard I seek your clarification whether any provision is there for online payment?. Is there any
    means to verify the account status online. Kindly clarify.

  115. Is it compulsory that the maturity proceeds of a matured RD is to be deposited in SB account with post office cant itbe credited to any SB account maintained with any bank.

    If I do not have any savings bank account with post office then am i bound to open anew SB account with post office

    Pl clarify

    Yasaswee Vuppla

  116. Good morning sir,

    I am seenevasa from chennai, am 22 years old. I want to open RD in Post office for 2 years. Is there any option for deposit the money from other bank account through online for 2 years.

  117. Hi sir I had opened an account in the year 2014 in October with an amount of 1000 rs .. my agent tells me that I can with this amount next month since it completes 3 years and the Amount I will receive will be 44 000 with an interest of 4% just wanted to confirm is d calculation correct nd how much will I get after 5 years plshelp

        1. My RD of 10000 was going to mature 28 may 2019 but my mistake by the officials it was pre matured closed on 25 may without even notifying me…the loss of interest is of 90000..what can I do ahead,?

  118. Hi, I started a Rd ac on 8/8/2012 for rs 1500 per month, continued till Dec, 2015 but after that I had to leave the city for some work when I came back they said Ur account is discontinued. I waited till maturity n filled the same..but I received only 61500/- whereas 60000/- was my contribution how is this possible????

  119. I have opened RD account for 1000 rupees from June’17. I talked with the agent through i opened the account regarding the rebate but he told about 200 for 6000 rupees and 500 for 12000 rupees. I want you to please clarify this to me that i want to deposit 6 months advance i.e. 6000 rupees than how much amount will be rebated to me.

    Regards,

  120. Respected Sir, I am Jayanta Mandal.I opened a Recurring Deposit 25/10/20014 ,i deposited money last 28/10/2016.Now it is discontinued account but I want to deposit money in my account.what can I do for this?if there is no option for deposit , please tell me how can I withdraw my money and how much money i will get? I deposited monthly ?500.please quickly answer.

  121. sir, i opend RD account 2014 May iam extend another 6 to 10 (5 years) period how much amount i will receive now iam monthly invest Rs.1500/- plz.give details different terms

  122. sir, my rd is falling for maturity this month and i would like to extent for further five years, kindly let me know the maturity amount at the end of tenth year.

    regards,

  123. please help me i want to withdraw 50 % of my total payment of rd but i am in other city far from my native place do i have to go to my branch only for withdrawal or i can get it done where i am staying now?

  124. hi
    I opened RD in Kanykumari Post Office that RD is Matured.Now I am in chennai .I applied for transfer the RD March 12 2017.today date is 18 April 2017 still that RD is not transfer.how to track my RD postion or any complaint is required for that.please give me a nice advice

  125. but my Post Agent says that I will get the same interest rate on which date I have 0pened Rd Account and I Will get 8.50% again when I extend this Rd for another 5 years please clear my doubt

    1. Dear sir,
      I have a matured rd account in post office .I want to know how much time needed to withdraw the money from post office .Bcz my agent collected all the necessary documents from me and saying 1 month .Is it right .wt is the exact time and procedures for withdrawal.hope for the reply
      Thanks
      Dinesh

  126. Dear Basavaraj

    Your article ‘All about Post Office Recurring Deposit (RD) Account Scheme’ has been elaborated very clearly in detail but you forgot to write on ‘Interest Payable of RD’. Please clarify?

    Thanks

    RK Bhuwalka

  127. you are correct.

    I opened sukanya samridhi scheme and whenever I try to go for making my deposit they claim the server is down.

    The person is on leave. They irritate us.

    Government needs to take enough action so that our Central Government employees value customers.

    We are not treated as valuable customers like a private bank.

    Now I saw you post on transferring account to Banks this is very helpful to avoid wasting time in roaming around PO.

    The pity point is this issue is in Chennai GPO they claim best serviced branch.

    1. Dear Sir, I had withdrawn RS. 50000 from my RD account if I don’t deposit the above amount whether I get RD interest on remaining amount or not. Please suggest. Thanks.

      1. Hi sir I had a RD with post office and have paid only 3months installments and it’s still not withdrawn can I restart
        means continue the same RD with same iinterest rate.

      2. Sir I opened a rd account but I cannot able to pay the amount further. Is there any way to close the account and get the money from the post office

        1. Dear Raju, you can stop deposits in your RD account, but you can claim the balance alongwith savings interest only after completion of 3 years from the account opening date.

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