How to Open a RD Account in Post Office?

Post Office RD or Recurring Deposit is a government-backed savings scheme provided by the India Post. RD accounts have lower investment risk and work well to fulfill short-term financial goals. You can open an RD account in the post office either online or offline.

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What is a Post Office Recurring Deposit Scheme?

The Post Office Recurring Deposit Scheme is a mid-term savings scheme where you can park your investments for at least 5 years. It falls under the Post Office Savings Scheme backed by the government of India. 

Recurring Deposits are not influenced by the market, are relatively risk-free, and cater to novice investors and those with low-risk appetite. Recurring deposit schemes are best suited if you look to generate wealth steadily over time and earn a fixed income. 

At the end of the fixed tenure of the Recurring Deposit, you receive the maturity amount, including the principal and the interest earned. You can also transfer your Recurring Deposit balance from one post office to another. 

Disclaimer: All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

What Are the Steps to Open a Post Office RD Account Online?

The IPPB (India Post Payments Bank) application was launched in 2018 for fulfilling post office banking requirements online. You can open a bank account via the app and make payments to your Recurring Deposit account. Given below is a step-wise guide to open an RD account online:

  • Download the IPPB app on your device.
  • Enter the essential details, such as the contact and PAN number. Verify your mobile number via OTP and proceed to open a post office savings account through the app.
  • Enter your Aadhaar Card number and verify through OTP.
  • Fill out the online application form giving the following details:
    • Personal information
    • Communication address
    • Account information
    • Nominee details
  • Once you enter the details and submit the form, the post office savings account is ready with a customer ID and account number. 
  • Now, you can use your customer Id, Date of Birth, and account number to generate a PIN to log in to the app.
  • On the menu tab in the app, there is a “Send Money” option. Under this option, you must click on “DOP Products” to deposit money in their RD account. 

What Are the Steps to Open a Recurring Deposit Account at the Post Office?

If you wish to open your RD account at the post office, these are the steps:

  • Visit your nearest post office.
  • Ask for and fill out the RD form accurately.
  • Submit the RD form along with the initial deposit amount and the pay-in-slip form.
  • You can make the initial deposit payment either by cash or cheque.

The Final Words!

The Department of Posts has made opening a post office RD account online and offline hassle-free for the customers. The internet banking facility of the DOP enables you to enjoy a range of services related to your RD account.


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