How do I open a Post Office RD account and make contributions online?



oi-Vipul Das


For bond investors with low risk tolerance, investing in Recurring Deposits (RD) is highly recommended as the scheme has a flexible duration and offers assured returns. Investing in recurring deposits is especially beneficial for the salaried class as the plan does not require a lump sum investment and allows you monthly installments. In the digital age, opening an RD account is no longer a big problem and can be opened online even if you are a postal customer. The Department of Posts (DoP) provides a Postal Recurring Deposit (RD) Account with a term of 5 years, which can simply be established online if you already have a savings account at a post office. .

Key Benefits of the National Savings (RD) Recurring Deposit Account

Key Benefits of the National Savings (RD) Recurring Deposit Account

  • A 5-year Postal Recurring Deposit (RD) Account can be opened by a single adult, together with a maximum of 3 adults, or on behalf of a minor.
  • To open an RD account at the post office, a monthly deposit of Rs 100/- or any amount in multiples of Rs 10/- with no maximum limit is required.
  • Currently, the National Savings Recurring Deposit Account (RD) guarantees a quarterly compound interest rate of 5.8% per annum.
  • After depositing 12 monthly installments and keeping the account open for a year, the depositor can apply for a loan of up to 50% of the amount active in the account.
  • After three years from the date the account was opened, an RD postal account can be closed early by submitting the appropriate application form to the relevant post office. If the account is closed prematurely, the interest rate of the Post Office Savings Account will apply.
  • The Post Office RD account has a validity period of 5 years (60 monthly deposits).
  • An RD postal account can be renewed for an additional 5 years by submitting a completed application form to the relevant post office. The interest rate applicable throughout the extended period will be the same as the interest rate at which the account was originally opened.
  • Upon the death of the account holder, the agent/claimant may file a claim with the same post office where the account was opened. Once the application is approved, the legal representative/heirs can maintain the RD account until maturity by filing and submitting a duly filed application to the relevant post office.
How to open an RD postal account online?

How to open an RD postal account online?

Customers with a postal savings account and net banking credentials can create an RD account online. If you are not a registered post office online banking user, you can learn how to register and activate it by clicking on here. You can open an RD postal account by logging into the DoP eBanking portal and entering your username and password. The steps to follow are described below.

  • Visit and enter your Login User ID and Password.
  • Once logged in, you will be redirected to the dashboard section of your net banking account under which you must click on “General Services”.
  • Now click on the ‘Service Request’ tab and select ‘New Request’ from the drop-down menu.
  • Now in the ‘Request Type’ options select ‘RD Accounts – Open RD Account’
  • No complete the online form by entering the required details such as deposit amount, deposit period, account opening date, debit account.
  • Once done, click on ‘Submit online’ and you will be redirected to the ‘Request confirmation’ page under which you will have to confirm your information entered by clicking on ‘Submit’.
  • Once done, you will receive an online receipt with a reference ID number.
  • You can also download the online receipt in PDF format.
How do I contribute to the Post Office RD account online?

How do I contribute to the Post Office RD account online?

You must have a digital savings account with the India Post Payments Bank (IPPB) to make online contributions to an RD post account. The IPPB allows digital savings account holders to make online deposits with various post office schemes. If you don’t have an IPPB Digital Savings Account, you can learn how to open one by clicking here. If you already have an IPPB digital savings account, follow the steps below to make monthly payments online to your RD postal account.

  • Open the IPPB Mobile Banking app and log in with your 4-digit MPIN.
  • Tap on the ‘DOP Services’ option and then select ‘Recurring Deposit’.
  • Now enter your RD account number, DOP client ID, installment amount, number of installments.
  • Press “Continue” and confirm the details on the screen.
  • Press the ‘Pay’ button and confirm the amount to be paid by clicking ‘Confirm’.
  • Now enter the received OTP on your SMS registered mobile number.
  • Once the entered OTP is successfully verified, you will receive a successful payment message on your screen and also on your mobile number via SMS.

Article first published: Saturday, February 12, 2022, 4:51 p.m. [IST]


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