New Sarkari Yojana List 2024 (नई सरकारी योजनाओं की सूची)

New Sarkari Yojana List 2024 (नई सरकारी योजनाओं की सूची)

प्रधानमंत्री मोदी एवं विभिन्न राज्य के मुख्यमंत्री द्वारा शुरू की गयी सभी योजनाएं, केंद्र व राज्य सरकार की योजनाएँ 2024, सरकारी योजना हिंदी और अंग्रेजी में योगी योजना वेबसाइट पर

Post Office Recurring Deposit (RD) Form 2024 PDF - Download Account Opening, Closure, Extension Form | Check RD Interest Rate, Loan, Min Deposit Amount, Max Balance, Premature Withdrawal Rules

Indian Post Office has started Recurring Deposit (RD) scheme 2024 for common citizens. Read this article to know how to download post office 5-Year Post Office Recurring Deposit Account (RD) account opening form PDF, what is interest rate, minimum deposit amount, maximum balance to be retained in RD account. Also know RD premature withdrawal rules, account closure / extension details. RD is an important scheme of Post Office Savings Bank and its official website is indiapost.gov.in.

About 5 Year Post Office Recurring Deposit Account (RD) 

Central government revises Small Savings Scheme interest rates on a quarterly basis. Currently, recurring deposit scheme offers 6.7% interest rate w.e.f 1 April 2024. The interest rate offered under RD account is quarterly compounded.

Who can open National Savings Recurring Deposit Account (RD)

  • a single adult
  • Joint Account (up to 3 adults) (Joint A or Joint B)
  • a guardian on behalf of minor
  • a guardian on behalf of person of unsound mind
  • a minor above 10 years in his own name.
Note - Any number of accounts can be opened.

Deposit in PO 5-Year Recurring Deposit Account (RD) 

  • Account can be opened by cash/cheque and in case of cheque the date of deposit shall be date of clearance of cheque.
  • Minimum Amount for monthly deposit is Rs. 100 and above minimum in multiple of Rs. 10.
  • Subsequent deposit shall be made up to 15th day of month, if account is opened up to 15th of a calendar month.
  • Subsequent deposit shall be made up to last working day of month, if account is opened between 16th day and last working day of a calendar month.

Post Office Recurring Deposit (RD) Interest Rate

  • From 01.04.2024, interest rates under National Savings Recurring Deposit Account is 6.7​% per annum (quarterly compounded).

Default in National Savings RD Account

  • If subsequent deposit is not made up to the prescribed day for a month, a default is charged for each defaulted month, default @ 1 rupee shall be charged for 100 rupee denomination account (proportionate amount for other denomination) shall be charged.
  • If in any RD account, there is monthly default, the depositor has to first pay the defaulted monthly deposit with default fee and then pay the current month deposit.
  • After 4 regular defaults, the account becomes discontinued and can be revived within two months from 4th default but if the account is not revived within this period, no further deposit can be made in such account and account became discontinued.
  • If there are not more than four defaults in monthly deposits, 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.

Advance Deposit in 5 Year Post Office RD Account

  • If an RD account is not discontinued can made advance deposit up to 5 years in an account.
  • Rebate on advance deposit of at least 6 installments (inclusive of month of deposit), for Rs. 100 denomination rebate Rs. 10 for 6 month , Rs. 40 for 12 month
  • The advance deposit may be made at the time of opening of the account or any time thereafter.

Loan under Recurring Deposit Scheme

  • After 12 installments deposited and account is continued for 1 year not discontinued depositor may avail loan facility up to 50% of the balance credit in the account.
  • Loan can be repaid in one lump-sum or in equal monthly installments.
  • Interest on loan will be applicable as 2% + RD interest rate applicable to the RD account.
  • Interest will be calculated from date of withdrawal to date of repayment.
  • In case loan is not repaid till the maturity, loan plus interest will be deducted from the maturity value of the RD account.
Note - Loan can be taken by submitting loan application form with passbook at concerned Post Office. Application form for loan / withdrawal from RD / PPF and SSA accounts.

National Savings Recurring Deposit (RD) Account Opening Form PDF

If you want to open Recurring Deposit account, then you can follow process here.
  • Then page showing Post office savings schemes will open.
  • You can download this RD form, take a printout, fill it manually and submit it at nearest post office branch to open your recurring deposit account.

Premature Closure for PO Recurring Deposit Scheme Account

  • RD Account can be closed prematurely after 3 years from the date of account opening by submitting prescribed application form at concerned Post Office.
  • PO Savings Account interest rate will be applicable if the account is closed prematurely even one day before maturity.
  • No premature closure of account shall be permissible until the period for which the advance deposits have been made.
Application Form for Premature Closure of RD account - https://www.indiapost.gov.in/VAS/DOP_PDFFiles/form/Premature.pdf

Account Closure on Maturity of RD Account

  • 5 years (60 monthly deposits) from the date of opening.
  • Account can be extended for further 5 years by giving application at concerned Post Office. Interest rate applicable during extension will be the interest rate at which account was originally opened.
  • Extended account can be closed any time during the period of extension. For completed years, RD interest rate will be applicable and for period less than a year, PO Savings Account interest rate will be applicable.
  • RD account can be retained up to 5 years from the date of maturity without deposit also.
Application Form for Closure of Account on Maturity - https://www.indiapost.gov.in/VAS/DOP_PDFFiles/form/Closure.pdf

Extension of RD Account

  • Account holder may extend the recurring deposit account from the date of maturity by submitting prescribed form with passbook at concerned post office.
  • Extended account shall earn interest at the rate applicable on the date of maturity.
Application Form for Extension of RD Account - https://www.indiapost.gov.in/VAS/DOP_PDFFiles/form/ExtensionRD.pdf

Repayment on Death of RD Account Holder

  • On the death of account holder nominee/claimant can submit claim at concerned Post Office to get the eligible balance of such RD account.
  • After sanction of claim, Nominee/legal heirs can continue RD account till maturity by submitting application at the concerned Post Office.

Minimum Amount to Open RD Account

As per the official Indian Post website, the minimum amount to open an RD account in Post office is Rs. 100. Then people shall make any deposit in RD account in multiple of Rs. 10.

Maximum Balance that can be Retained in RD Account

The maximum balance which can be retained in RD account has no limit. 

If you want to get more details regarding RD account, go to official website indiapost.gov.in

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