Indian Post Office RD Account Check Online Interest Rate 2022

The government has decided not to change the interest rates of small savings schemes for the third quarter (July-September 2022) of the financial year 2022-23. The RD account interest rate will remain the same at 5.8%.

Individuals who have enough money to invest in Recurring deposits (RDs) monthly can do so if they have the funds. A Recurring Deposit account allows people to pay monthly in installments. They don’t have to make one lump sum payment, like an FD. Indian Post Office RD interest rates are 5.8% per year and can be calculated by using the Post Office Recurring deposit Calculator / RD Calculator. Post Office RD Account Check Online is possible. Candidates can log in to www.indiapost.gov.in and complete RD Account Login / RD Login

In accordance with the regulations in the Central Government, the Post Office Recurring Deposit Account has a duration for 5 years. To establish the online RD account, one must deposit a minimum in the amount of 100 rupees per month, and the subsequent amounts in multiples of 10 rupees. There is no limit on the amount that can be deposited for an Post Office Recurring Deposit Account (RD) of five years. Customers can look at every post office scheme prior to making a decision to invest.People National Savings Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Sukanya Samriddhi Yojana (SSY), Post Office Savings Account, Senior Citizen Savings Scheme (SCSS), Fixed Deposit Account (TD) Monthly Income Scheme. You can also check out other schemes from the post office such as MIS. Check NSC vs PPF vs KVP and SSI against SSC and TD and MISS vs RD and Savings Account.

To establish a recurring deposit bank account at every post office across India the relevant authorities must submit an RD Account Opening Form. People can now download India Post Office RD Account Opening Form through the direct link at https://www.indiapost.gov.in/VAS/Pages/Form.aspx#SavingBank. After clicking on this link, you will be taken to a new page on which RD account opening application form is available. If you click on “Application Form for Opening of Account” link, and then click Post Office Account Online Application Form Account On-line Application Form for Opening of Account will be displayed.

India Post Office Recurring Deposit Account


The account can be opened by cash/cheque and in case of cheque, the date of deposit will be the date of withdrawal of the cheque.
The minimum amount for monthly deposit is Rs 100 and the minimum is higher in multiples of Rs 10.
If the account is opened by the 15th of a calendar month, the subsequent deposits will be made up to the 15th day of the month.
If the account is opened between the 16th day of a calendar month and the last working day, the subsequent credit will be made up to the last working day of the month.
Minimum/Maximum amount in Post Office RD Account
Minimum INR 100/- per month or any amount in multiples of INR 10/-. No maximum limit.

Recurring Deposit (RD) Account Details


If subsequent deposits are not made by the prescribed day for a month, a default fee is levied for each defaulted month, a fee of default @ Re 1 for Rs 100 denomination account (amount proportional to other denominations) will be taken.
If there is a monthly default in an RD account, the depositor will have to first pay the default monthly deposit amount along with the default charges and then pay the current month’s deposit amount.
4 After regular default, the account is closed and can be revived within two months from the fourth default but if the account is not revived within this period, no further credit can be made to such account And the account is closed.
If there are not more than four defaults in the monthly deposit, the account holder may, at his option, extend the maturity period of the account by as many months as the number of defaults and deposit the defaulted installments during the extended period.


India Post Office RD Advance Deposit


In case an RD account is not closed, an advance can be deposited in the account up to 5 years.


Discount on advance deposit of at least 6 installments (including month of deposit), Rs.10 for 6 months for Rs.100 denomination, Rs.40 for 12 months
Advance deposit can be made at the time of account opening or any time thereafter.


Indin post office RD Account interest rate

RD account can be opened in any post office in India. Candidates can also take advantage of the Recurring Deposit Scheme in banks. The central government has allowed opening of RD account in various nationalized banks like SBI, HDFC, Canara Bank to ensure high access and easy access. Candidates can open this account through cash or cheque.

The RD interest rate is 5.8% per annum (compounded quarterly) with effect from July 1, 2022. The interest earned can be calculated using the Post Office RD calculator. The RD account provides sovereign guarantee, capital protection and quarterly interest payments which act as a source of income. Apart from being a safe investment, this investment also has attractive interests.

Check Post Office RD Account Online – Tax Benefits


In case of lump sum amount, fixed deposit (FD) is preferred and if one can save a certain amount from income every month, then recurring deposit (RD) is preferred. Subscribers have the option to withdraw the interest earned or to reinvest it. However, if the interest earned is more than Rs 10,000 per annum, TDS of 10% can be deducted for both the options under 194A of the IT Act. Further, the income tax on the interest earned is calculated as per the income tax slab rates.

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